EX-11 2 0002.txt COMPUTATIONS OF EARNINGS PER SHARE EXHIBIT 11 COMPUTATIONS OF EARNINGS PER SHARE Three Months Ended December 31, 2000 Less Total Shares Unallocated Shares Used For Outstanding ESOP Shares EPS Calculation ------------ ----------- --------------- September 30, 2000 1,162,320 51,904 1,110,416 October 31, 2000 1,162,320 51,904 1,110,416 November 30, 2000 1,162,320 51,904 1,110,416 December 31, 12000 1,162,320 51,904 1,110,416 Weighted average number of shares outstanding for the quarter ended December 31, 2000, for earnings per share calculation 1,110,416 --------- Stock options outstanding at December 31, 2000: 151,776 ------- Weighted average exercise price of stock options: $9.39 per share --------------- Weighted average exercise price of dilutive stock options: $8.50 per share --------------- Average stock price for three month period: ended December 31, 2000 $8.656 ------ Three Months Ended December 31, Basic Earnings Per Share 2000 1999 ------------------------ ---- ---- Income available to common stockholders $49,052 $93,758 ======= ======= Weighted average number of common shares outstanding for basic EPS calculation 1,110,416 1,195,082 ========= ========= Basic Earnings Per Share $.04 $.08 ==== ==== Diluted Earnings Per Share -------------------------- Income available to common stockholders $49,052 $93,758 ======= ======= Weighted average number of common shares outstanding for basic EPS calculation 1,110,416 1,195,082 Weighted average common shares issued under stock option plans 4,500 148,451 Less weighted average shares assumed repurchased with proceeds (4,419) (116,534) ------- --------- Weighted average number of common shares outstanding for diluted EPS calculation 1,110,497 1,226,999 ========= ========= Diluted Earnings Per Share $.04 $.08 ==== ====