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, Consolidated Statements of Income for the three months ended March 31, 2011 and 2010, included in this report as Exhibit 13.3.
Earnings Per Share
Net Income / Weighted average shares of common stock outstanding for the period
Three months
ended March 31, |
||||||||
2011 | 2010 | |||||||
Weighted Average Shares Outstanding |
1,652,814 | 1,652,814 | ||||||
Net Income |
$ | 549,907 | $ | 460,651 | ||||
Per Share Amount |
$ | 0.33 | $ | 0.28 |
No common stock equivalents exist.