EX-11 2 l21360aexv11.htm EX-11 EX-11
 

EXHIBIT 11
STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS
(Dollar amounts in thousands, except share per share data)
                                 
    Three Months Ended   Six Months Ended
    June 30,   June 30,   June 30,   June 30,
    2006   2005   2006   2005
     
1. Net income
   $ 1,834     $ 1,680     $ 3,283     $ 2,983  
     
 
                                
2. Weighted average common shares outstanding
     3,183,870       3,066,512       3,163,159       3,041,698  
3. Common stock equivalents due to dilutive effect of stock options
     25,424       91,219       42,621       107,466  
     
 
                                
4. Total weighted average common shares and equivalents outstanding
     3,209,294       3,157,731       3,205,780       3,149,164  
     
 
                                
5. Basic earnings per share
   $ .58     $ .55     $ 1.04     $ .98  
     
 
                                
6. Diluted earnings per share
   $ .57     $ .53     $ 1.02     $ .95  
     

21