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, 2009 and 2008 (dollars in thousands except per share amounts):

	Three months ended March 31, 2009						Three months ended March 31, 2008
	Basic			Diluted			Basic			Diluted
Net income		$	3,444		$	3,444		$	2,694		$	2,694

Weighted average shares outstanding		57,919,412		57,919,412		57,488,499		57,488,499
Effect of dilutive securities		-		133,345		-		275,372
Adjusted weighted average shares outstanding		57,919,412		58,052,757		57,488,499		57,763,871
Earning per share	$	0.06	$	0.06	$	0.05	$	0.05