EX-11 2 l06884aexv11.txt EXHIBIT 11 . . . Exhibit 11 STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS (Dollar amounts in thousands, except share per share data)
THREE MONTHS ENDED MARCH 31, MARCH 31, 2004 2003 -------------------------------------- 1. Net income $ 1,517 $ 1,724 ====================================== 2. Weighted average common shares outstanding 2,990,989 2,974,050 3. Common stock equivalents due to dilutive effect of stock options 124,646 94,891 -------------------------------------- 4. Total weighted average common shares and equivalents outstanding 3,115,635 3,068,941 ====================================== 5. Basic earnings per share $ .51 $ .58 ====================================== 6. Diluted earnings per share $ .49 $ .56 ======================================
All share and per share amounts have been adjusted for a three for two stock split declared October 21, 2003 18