Exhibit 11
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
Three months ended Nine months ended
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September 30, September 30, September 30, September 30,
1997 1996 1997 1996
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(In thousands, except per share data)
Primary:
Average outstanding shares 5,967 5,949 5,958 5,922
Net effect of dilutive stock options - based
on the treasury stock method using the
average market price 251 108 164 135
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Totals 6,218 6,057 6,122 6,057
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Net income $3,176 $ 887 $5,891 $2,617
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Per share amount $ .51 $ .15 $ .96 $ .43
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Fully diluted:
Average shares outstanding 5,967 5,949 5,958 5,922
Net effect of dilutive stock options - based
on the treasury stock method using the
quarter-end market price if higher than
the average market price 296 108 296 141
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Totals 6,263 6,057 6,254 6,063
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Net income $3,176 $ 887 $5,891 $2,617
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Per share amount $ .51 $ .15 $ .94 $ .43
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