EXHIBIT NO. 11



STATEMENT OF COMPUTATION OF EARNINGS PER SHARE



|                                          |  |                                     |  |                                       |      |        |       |                   |   |     
|----------------------------------------- |  | ----------------------------------- |  | ------------------------------------- | ---- | ------ | ----- | ----------------- | - | ----
|                                          |  | Nine Months EndedSeptember 30, 2004 |  | Three Months EndedSeptember 30, 2004 
|                                          |  | Shares                              |  | Earnings Per Share                    |      | Shares |       | EarningsPer Share
|                                          |  | (in Thousands)                      |  | (in Thousands)                       
|Basic Weighted Average Shares Outstanding |  | 5,496                               |  | $                                     | 1.62 |        | 5,817 |                   | $ | 0.55
|                                          |  |                                     |  |                                       |      |        |       |                   |   |     
|Diluted                                   |  |                                     |  |                                       |      |        |       |                   |   |     
|Average Shares Outstanding                |  | 5,496                               |  |                                       |      |        | 5,817 |                   |   |     
|Common Stock Equivalents                  |  | 162                                 |  |                                       |      |        | 102   |                   |   |     
|                                          |  |                                     |  |                                       |      |        |       |                   |   |     
|                                          |  | 5,658                               |  | $                                     | 1.59 |        | 5,919 |                   | $ | 0.54
|                                          |  |                                     |  |                                       |      |        |       |                   |   |     
|                                          |  |                                    
|                                          |  | Nine Months EndedSeptember 30, 2003 |  | Three Months Ended September 30, 2003
|                                          |  | Shares                              |  | Earnings Per Share                    |      | Shares |       | EarningsPer Share
|                                          |  | (in Thousands)                      |  | (in Thousands)                       
|Basic Weighted Average Shares Outstanding |  | 4,141                               |  | $                                     | 1.46 |        | 5,012 |                   | $ | 0.53
|                                          |  |                                     |  |                                       |      |        |       |                   |   |     
|Diluted                                   |  |                                     |  |                                       |      |        |       |                   |   |     
|Average Shares Outstanding                |  | 4,141                               |  |                                       |      |        | 5,012 |                   |   |     
|Common Stock Equivalents                  |  | 166                                 |  |                                       |      |        | 168   |                   |   |     
|                                          |  |                                     |  |                                       |      |        |       |                   |   |     
|                                          |  | 4,307                               |  | $                                     | 1.43 |        | 5,180 |                   | $ | 0.51
|                                          |  |                                     |  |                                       |      |        |       |                   |   |