<PAGE>   1
                                                                  Exhibit 11

                 SCHEDULE OF COMPUTATION OF EARNINGS PER SHARE
                     (In Thousands, Except Per Share Data)
                                  (Unaudited)

<TABLE>    
<CAPTION>
                                                    Six Months    Six Months
                                                       Ended         Ended
                                                    December 31   December 31
                                                        1995          1994
<S>                                                 <C>            <C>

Primary                                             

Net Income                                          $    3,246      $    2,525
                                                    ==========      ==========

Weighted Average Shares Outstanding                  7,724,559       7,609,346

Incremental Shares from Assumed
  Exercise of Stock Options                            198,444         315,125
                                                    ----------      ----------

Total Shares                                         7,923,003       7,924,471
                                                    ==========      ==========

Primary Per Share Amounts

Net Income                                          $     0.41      $     0.32
                                                    ==========      ==========

Fully Diluted* 

Net Income                                          $    3,246      $    2,525
                                                    ==========      ==========

Weighted Average Shares Outstanding                  7,724,559       7,609,346

Incremental Shares from Assumed
  Exercise of Stock Options                            198,444         302,849
                                                     ---------      ----------

Total Shares                                         7,923,003       7,912,195
                                                    ==========      ==========

Fully Diluted Per Share Amounts                     

Net Income                                          $     0.41      $     0.32
                                                    ==========      ==========


</TABLE>

* Fully diluted earnings per share calculation is presented in accordance with
  Regulation S-K item 601(b)(11) although not required by footnote 2 to
  paragraph 14 of Accounting Principles Board Opinion No. 15 because it results
  in dilution of less than 3%.

 


<PAGE>   2
                                                                    Exhibit 11

                 SCHEDULE OF COMPUTATION OF EARNINGS PER SHARE
                     (In Thousands, Except Per Share Data)
                                  (Unaudited)
<TABLE>
<CAPTION>

                                         Three Months            Three Months
                                            Ended                   Ended
                                         December 31             December 31
                                            1995                    1994

<S>                                     <C>                      <C>
Primary

Net Income                               $    1,559               $    1,189
                                         ==========               ==========
Weighted Average Shares Outstanding       7,724,891                7,554,038

Incremental Shares from Assumed
  Exercise of Stock Options                 146,170                  302,757
                                         ----------               ----------
Total Shares                              7,871,061                7,856,795
                                         ==========               ==========

Primary Per Share Amounts

Net Income                               $     0.20               $     0.15
                                         ==========               ==========

Fully Diluted*

Net Income                               $    1,559               $    1,189
                                         ==========               ==========

Weighted Average Shares Outstanding       7,724,891                7,554,038

Incremental Shares from Assumed
  Exercise of Stock Options                 183,304                  307,057
                                         ----------               ----------
Total Shares                              7,908,195                7,861,095
                                         ==========               ==========

Fully Diluted Per Share Amounts

Net Income                               $     0.20               $     0.15
                                         ==========               ==========

</TABLE>

* Fully diluted earnings per share calculation is presented in accordance 
  with Regulation S-K item 601(b)(11) although not required by footnote 2
  to paragraph 14 of Accounting Principles Board Opinion No. 15 because it
  results in dilution of less than 3%.