EX-11 6 ex11-0.txt EXHIBIT 11.0 COMPUTATIONS OF EARNINGS PER SHARE Three Months Ended June 30, 2003 Less Total Shares Unallocated Shares Used For Outstanding ESOP Shares EPS Calculation ------------ ----------- --------------- March 31, 2003 1,163,887 25,574 1,138,313 April 30, 2003 1,163,887 25,574 1,138,313 May 31, 2003 1,163,887 25,574 1,138,313 June 30, 2003 1,171,724 25,574 1,146,150 Weighted average number of shares outstanding for the quarter ended June 30, 2003, for earnings per share calculation 1,140,272 --------- Stock options outstanding at June 30, 2003: 142,372 ------- Exercise price of stock options: $9.39 per share --------------- Average stock price for three-month period: ended June 30, 2003 $13.68 ------ Three Months Ended June 30, -------------------------- Basic Earnings Per Share 2003 2002 ------------------------ ----------- ----------- Income available to common stockholders $ 249,848 $ 502,238 =========== =========== Weighted average number of common shares outstanding for basic EPS calculation 1,140,272 1,123,979 =========== =========== Basic Earnings Per Share $ .22 $ .45 =========== =========== Diluted Earnings Per Share Income available to common stockholders $ 249,848 $ 502,238 =========== =========== Weighted average number of common shares outstanding for basic EPS calculation 1,140,272 1,123,979 Weighted average common shares issued under stock option plans 148,250 151,776 Less weighted average shares assumed repurchased with proceeds (101,819) (126,158) ----------- ----------- Weighted average number of common shares outstanding for diluted EPS calculation 1,186,703 1,149,597 =========== =========== Diluted Earnings Per Share $ .21 $ .44 =========== =========== COMPUTATIONS OF EARNINGS PER SHARE Nine Months Ended June 30, 2003 Less Total Shares Unallocated Shares Used For Outstanding ESOP Shares EPS Calculation ------------ ------------ --------------- September 30, 2002 1,162,320 25,574 1,136,746 October 31, 2002 1,162,320 25,574 1,136,746 November 30, 2002 1,162,320 25,574 1,136,746 December 31, 2002 1,162,320 25,574 1,136,746 January 31, 2003 1,162,320 25,574 1,136,746 February 28, 2003 1,162,320 25,574 1,136,746 March 31, 2003 1,163,887 25,574 1,138,313 April 30, 2003 1,163,887 25,574 1,138,313 May 31, 2003 1,163,887 25,574 1,138,313 June 30, 2003 1,171,724 25,574 1,146,150 Weighted average number of shares outstanding for the nine months ended June 30, 2003, for earnings per share calculation 1,138,157 --------- Stock options outstanding at June 30, 2003: 142,372 ------- Exercise price of stock options: $9.39 per share --------------- Average stock price for nine-month period: Ended June 30, 2003 $12.72 ------ Nine Months Ended June 30, -------------------------- Basic Earnings Per Share 2003 2002 ------------------------ ----------- ----------- Income available to common stockholders $ 978,085 $ 1,525,145 =========== =========== Weighted average number of common shares outstanding for basic EPS calculation 1,138,157 1,123,979 =========== =========== Basic Earnings Per Share $ 0.86 $ 1.36 =========== =========== Diluted Earnings Per Share Income available to common stockholders $ 978,085 $ 1,525,145 =========== =========== Weighted average number of common shares outstanding for basic EPS calculation 1,138,157 1,123,979 Weighted average common shares issued under stock option plans 150,366 151,776 Less weighted average shares assumed repurchased with proceeds (111,022) (135,512) ----------- ----------- Weighted average number of common shares outstanding for diluted EPS calculation 1,177,501 1,140,243 =========== =========== Diluted Earnings Per Share $ 0.83 $ 1.34 =========== ===========