EX-11 3 exhibit11.txt EXHIBIT 11.0 COMPUTATIONS OF EARNINGS PER SHARE Three Months Ended March 31, 2002 --------------------------------------------------------------------------------
Less Total Shares Unallocated Shares Used For Outstanding ESOP Shares EPS Calculation ----------- ----------- --------------- December 31, 2001 1,162,320 38,341 1,123,979 January 31, 2002 1,162,320 38,341 1,123,979 February 28, 2002 1,162,320 38,341 1,123,979 March 31, 2002 1,162,320 38,341 1,123,979
Weighted average number of shares outstanding for the quarter ended March 31, 2002, for earnings per share calculation 1,123,979 Stock options outstanding at March 31, 2002: 151,776 ------- Weighted average exercise price of stock options: $9.39 per share --------------- Average stock price for three-month period: ended March 31, 2002 $11.40 ------
Three Months Ended ------------------ March 31, --------- Basic Earnings Per Share 2002 2001 ------------------------ ---- ---- Income available to common stockholders $ 369,741 $ 291,199 =========== =========== Weighted average number of common shares outstanding for basic EPS calculation 1,123,979 1,110,416 =========== =========== Basic Earnings Per Share $ 0.33 $ 0.26 =========== =========== Diluted Earnings Per Share Income available to common stockholders $ 369,741 $ 291,199 =========== =========== 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 151,776 151,776 Less weighted average shares assumed repurchased with proceeds (125,052) (151,776) -------- -------- Weighted average number of common shares outstanding for diluted EPS calculation 1,150,703 1,110,416 =========== =========== Diluted Earnings Per Share $ 0.32 $ 0.26 =========== ===========
COMPUTATIONS OF EARNINGS PER SHARE Six Months Ended March 31, 2002 -------------------------------------------------------------------------------- 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 January 31, 2002 1,162,320 38,341 1,123,979 February 28, 2002 1,162,320 38,341 1,123,979 March 31, 2002 1,162,320 38,341 1,123,979 Weighted average number of shares outstanding for the six months ended March 31, 2002, for earnings per share calculation 1,123,979 --------- Stock options outstanding at March 31, 2002: 151,776 ------- Exercise price of stock options: $9.39 per share -------------------------------- --------------- Average stock price for six-month period: Ended March 31, 2002 $10.28 --- ---- ------
Six Months Ended ---------------- March 31, --------- Basic Earnings Per Share 2002 2001 ------------------------ ---- ---- Income available to common stockholders $1,022,907 $340,251 ========== ======== Weighted average number of common shares outstanding for basic EPS calculation 1,123,979 1,110,416 ========= ========= Basic Earnings Per Share $0.91 $0.31 ===== ===== Diluted Earnings Per Share Income available to common stockholders $1,022,907 $340,251 ========== ======== 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 151,776 4,500 Less weighted average shares assumed repurchased with proceeds (138,676) (4,495) -------- ------ Weighted average number of common shares outstanding for diluted EPS calculation 1,137,079 1,110,421 ========= ========= Diluted Earnings Per Share $0.90 $0.31 ===== =====