Exhibit 11

Statement Regarding Computation of Per Share Earnings

The following table is the reconciliation of basic and diluted earnings per share for the three months ended March 31, 2008 and 2007 (dollars in thousands except per share amounts):

	Three months ended March 31, 2008				Three months ended March 31, 2007
	Basic		Diluted		Basic		Diluted
Net income	$	2,694	$	2,694	$	4,941	$	4,941
Weighted average shares outstanding	57,488,499		57,488,499		60,534,234		60,534,234
Effect of dilutive securities	—		275,372		—		648,738
Adjusted weighted average shares outstanding	57,488,499		57,763,871		60,534,234		61,182,972
Earning per share	$	0.05	$	0.05	$	0.08	$	0.08