EXHIBIT 11

COMPUTATION OF PER SHARE EARNINGS



|                                            |                                                           |                                  |           |                                 |   |           |  |      |           |  |   |          
|------------------------------------------- | --------------------------------------------------------- | -------------------------------- | --------- | ------------------------------- | - | --------- |  | ---- | --------- |  | - | ---------
|                                            |                                                           | Three Months Ended September 30, |           | Nine Months Ended September 30,
|                                            |                                                           | 2006                             |           | 2005                            |   | 2006      |  | 2005
|                                            | (Dollars in thousands, except per share data) (unaudited)
|Net Income                                  |                                                           | $                                | 760       |                                 | $ | 443       |  | $    | 2,217     |  | $ | 1,654    
|                                            |                                                           |                                  |           |                                 |   |           |  |      |           |  |   |          
|Weighted Average Shares Outstanding         |                                                           |                                  | 2,558,642 |                                 |   | 1,876,941 |  |      | 2,116,626 |  |   | 1,870,768
|                                            |                                                           |                                  |           |                                 |   |           |  |      |           |  |   |          
|Basic Earnings Per Share                    |                                                           | $                                | 0.30      |                                 | $ | 0.24      |  | $    | 1.05      |  | $ | 0.88     
|                                            |                                                           |                                  |           |                                 |   |           |  |      |           |  |   |          
|Net Income                                  |                                                           | $                                | 760       |                                 | $ | 443       |  | $    | 2,217     |  | $ | 1,654    
|                                            |                                                           |                                  |           |                                 |   |           |  |      |           |  |   |          
|Weighted Average Shares Outstanding         |                                                           |                                  | 2,558,642 |                                 |   | 1,876,941 |  |      | 2,116,626 |  |   | 1,870,768
|Net Effect of Dilutive Stock Options        |                                                           |                                  | 33,544    |                                 |   | 56,153    |  |      | 37,502    |  |   | 61,603   
|                                            |                                                           |                                  |           |                                 |   |           |  |      |           |  |   |          
|Weighted Average Diluted Shares Outstanding |                                                           |                                  | 2,592,186 |                                 |   | 1,933,094 |  |      | 2,154,128 |  |   | 1,932,371
|                                            |                                                           |                                  |           |                                 |   |           |  |      |           |  |   |          
|Diluted Earnings Per Share                  |                                                           | $                                | 0.29      |                                 | $ | 0.23      |  | $    | 1.03      |  | $ | 0.86     
|                                            |                                                           |                                  |           |                                 |   |           |  |      |           |  |   |