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                                                                  EXHIBIT 11


     The FASB has issued Statement No. 128, Earnings Per Share.  Statement No.
128 requires the presentation of earnings per share by all entries that have
common stock or potential common stock, such as options, warrants and
convertible securities, outstanding that trade in a public market.  Those
entities that have only common stock outstanding are required to present basic
earnings per share amounts.  Basic per share amounts are computed by dividing
net income (the numerator) by the weighted-average number of common shares
outstanding (the denominator).  All other entities are required to present basic
and diluted per share amounts.  Diluted per share amounts assume the conversion,
exercise or issuance of all potential common stock instruments unless the effect
is to reduce the loss or increase the income per common share from continuing
operations.  For purposes of this computation, the number of shares of common
stock purchased by the Bank's employee stock ownership plan which have been not
been allocated to participants accounts are not assumed to be outstanding.  The
activity from the date of Conversion, December 30, 1997, to the end of the 1997
fiscal year is insufficient to compute a per share amount for that fiscal year.
See Note 12 in the "Notes to the Consolidated Financial Statements" in the 1999
Annual Report for further information.

     Earnings per share has been calculated in accordance with FASB Statement
No. 128, Earnings Per Share.  For purposes of this computation, the number of
shares of common stock purchased by the Bank's employee stock ownership plan
which have not been allocated to participant accounts are not assumed to be
outstanding.  The following are reconciliations of the amounts used in the per
share calculations for 1999 and 1998, which are the years the Company was in
operation:
<TABLE>
<CAPTION>

                                          For the Year Ended December 31, 1999
                                         --------------------------------------
                                            Income        Shares      Per Share
                                         (Numerator)   (Denominator)   Amount
                                         ------------  -------------  ---------
<S>                                      <C>           <C>            <C>
Basis EPS
Income available to stockholders          $1,386,000        630,442       $2.20

Effect of dilutive securities
Stock Options                                      -            233           -

Dilutive EPS
Income available to stockholders          $1,386,000        630,675       $2.20
                                         ===========        =======   =========

                                          For the Year Ended December 31, 1998
                                        ---------------------------------------
                                           Income         Shares     Per Share
                                         (Numerator)   (Denominator)   Amount
                                         -----------   ------------   ---------
Basic and Diluted EPS                     $2,204,000        622,839       $3.54
                                         ===========        =======   =========

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