EX-11 2 exhibit1138497_5-11.txt EXHIBIT 11.0 COMPUTATIONS OF EARNINGS PER SHARE Three Months Ended March 31, 2001 -------------------------------------------------------------------------------- Less Total Shares Unallocated Shares Used For Outstanding ESOP Shares EPS Calculation December 31, 2000 1,162,320 51,904 1,110,416 January 31, 2001 1,162,320 51,904 1,110,416 February 28, 2001 1,162,320 51,904 1,110,416 March 31, 2001 1,162,320 51,904 1,110,416 Weighted average number of shares outstanding for the quarter ended March 31, 2001, for earnings per share calculation 1,110,416 --------- Stock options outstanding at March 31, 2001: 151,776 ------- Weighted average exercise price of stock options: $9.39 per share --------------- Average stock price for three month period: ended March 31, 2001 $8.39 ----- Three Months Ended March 31, Basic Earnings Per Share 2001 2000 ------------------------ ---- ----- Income available to common stockholders $291,199 $52,804 ======== ======= Weighted average number of common shares outstanding for basic EPS calculation 1,110,416 1,096,007 =========== ========= Basic Earnings Per Share $.26 $.05 ==== ==== Diluted Earnings Per Share Income available to common stockholders $291,199 $52,804 ======== ======= Weighted average number of common shares outstanding for basic EPS calculation 1,110,416 1,096,007 Weighted average common shares issued under stock option plans 151,776 144,276 Less weighted average shares assumed repurchased with proceeds (151,776) (147,276) --------- --------- Weighted average number of common shares outstanding for diluted EPS calculation 1,110,416 1,096,007 ========= ========= Diluted Earnings Per Share $.26 $.05 ==== ==== COMPUTATIONS OF EARNINGS PER SHARE Six Months Ended March 31, 2001 -------------------------------------------------------------------------------- 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, 2000 1,162,320 51,904 1,110,416 January 31, 2001 1,162,320 51,904 1,110,416 February 28, 2001 1,162,320 51,904 1,110,416 March 31, 2001 1,162,320 51,904 1,110,416 Weighted average number of shares outstanding for the six months ended March 31, 2001, for earnings per share calculation 1,110,416 --------- Stock options outstanding at March 31, 2001: 151,776 ------- Exercise price of stock options: $9.39 per share --------------- Average stock price for six month period: Ended March 31, 2001 $8.51 ----- Six Months Ended March 31, Basic Earnings Per Share 2001 2000 ------------------------ ---- ---- Income available to common stockholders $340,251 $146,562 ======== ======== Weighted average number of common shares outstanding for basic EPS calculation 1,110,416 1,152,678 =========== ========= Basic Earnings Per Share $.31 $.13 ==== ==== Diluted Earnings Per Share Income available to common stockholders $340,251 $146,562 ======== ======== Weighted average number of common shares outstanding for basic EPS calculation 1,110,416 1,152,678 Weighted average common shares issued under stock option plans 4,500 147,276 Less weighted average shares assumed repurchased with proceeds (4,495) (124,492) ------- --------- Weighted average number of common shares outstanding for diluted EPS calculation 1,110,421 1,175,462 ========= ========= Diluted Earnings Per Share $.31 $.12 ==== ====