Attached files
Exhibit 11.1
Statement Regarding Computation of Per Share Earnings
Computation of Earnings Per Share
The following formula was used to calculate the earnings per share, page 3, Consolidated Statements of Income for the year ended December 31, 2009, 2008 and 2007, included in this report as Exhibit 13.1.
(Calculation)
Net Income / Weighted average shares of common stock outstanding for the period = Earnings Per Share
December 31, | ||||||
2009 | 2008 | 2007 | ||||
Weighted Average Shares Outstanding |
1,589,411 | 1,589,411 | 1,589,411 | |||
Net Income |
$2,304,986 | $2,205,511 | $2,035,962 | |||
Per Share Amount |
$1.45 | $1.39 | $1.28 |