EX-11 3 exhibit11.txt EXHIBIT 11.0 COMPUTATIONS OF EARNINGS PER SHARE Three Months Ended December 31, 2001 -------------------------------------------------------------------------------- Less Total Shares Unallocated Shares Used For Outstanding ESOP Shares EPS Calculation ----------- ----------- --------------- September 30,2001 1,162,320 38,341 1,123,979 October 31, 2001 1,162,320 38,341 1,123,979 November 30, 2001 1,162,320 38,341 1,123,979 December 31, 2001 1,162,320 38,341 1,123,979 Weighted average number of shares outstanding for the quarter ended December 31, 2001, for earnings per share calculation 1,123,979 --------- Stock options outstanding at December 31, 2001: 151,776 ------- Exercise price of stock options: $9.39 per share --------------- Average stock price for three-month period: ended December 31, 2001 $8.82 ----- Three Months Ended ------------------ December 31, ------------ Basic Earnings Per Share 2001 2000 ------------------------ ---- ---- Income available to common stockholders $ 653,166 $ 49,052 =========== =========== Weighted average number of common shares outstanding for basic EPS calculation 1,123,979 1,110,416 =========== =========== Basic Earnings Per Share $ .58 $ .04 =========== =========== Diluted Earnings Per Share -------------------------- Income available to common stockholders $ 653,166 $ 49,052 =========== =========== Weighted average number of common shares outstanding for basic EPS calculation 1,123,979 1,110,416 Weighted average common shares issued under stock option plans 4,500 4,500 Less weighted average shares assumed repurchased with proceeds (4,337) (4,419) ----------- ----------- Weighted average number of common shares outstanding for diluted EPS calculation 1,124,142 1,110,497 =========== =========== Diluted Earnings Per Share $ .58 $ .04 =========== =========== SIGNATURES Pursuant to the requirement of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. East Texas Financial Services, Inc. Date: February 14, 2002 ----------------------------------------- Vice Chairman, President and CEO (Principal Executive Officer) Date: February 14, 2002 ----------------------------------------- Vice President/COO/CFO (Principal Financial and Accounting Officer)