EX-11 2 ex11.txt EXHIBIT 11 COMPUTATION OF EARNINGS PER SHARE The Company has computed and presented earnings per share ("EPS") in accordance with Statement of Financial Accounting Standards No. 128. Reconciliation of the numerators and the denominators of the basic and diluted per share computation for net income are as follows:
(amounts in thousands, except per share data) (unaudited) Income Shares Per-Share (Numerator) (Denominator) Amount ----------- ------------- ------ Twelve months ended December 31, 2006 Basic EPS Net income and income available to common shareholders $ 4,254 1,684 $ 2.53 Effect of dilutive securities, options 0 ------------ ------------ Diluted EPS Income available to common shareholders and assumed conversions $ 4,254 1,684 $ 2.53 ============ ============ Twelve months ended December 31, 2005 Basic EPS Net income and income available to common shareholders $ 4,561 1,683 $ 2.71 Effect of dilutive securities, options 0 ------------ ------------ Diluted EPS Income available to common shareholders and assumed conversions $ 4,561 1,683 $ 2.71 ============ ============ Income Shares Per-Share (Numerator) (Denominator) Amount ----------- ------------- ------ Three months ended December 31, 2006 Basic EPS Net income and income available to common shareholders $ 941 1,684 $ .56 Effect of dilutive securities, options 0 0 ------------ ------------ Diluted EPS Income available to common shareholders and assumed conversions $ 941 1,684 $ .56 ============ ============ Three months ended December 31, 2005 Basic EPS Net income and income available to common shareholders $ 793 1,683 $ .47 Effect of dilutive securities, options 0 0 ------------ ------------ Diluted EPS Income available to common shareholders and assumed conversions $ 793 1,683 $ .47 ============ ============
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