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SUBURBAN BANCSHARES, INC.                                          EXHIBIT 11
EARNINGS PER SHARE CALCULATION
March 31, 1999

INFORMATION FOR COMPUTATION OF DILUTION

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Market Price per Share:                                                    Daily Average

<S>                                                                       <C>                     <C>
    First Quarter 1999                                                            $2.7169         62 trading days
    Second Quarter 1999
    Third Quarter 1999
    Fourth Quarter 1999

  Average Price for the Period Ended March 31, 1999                               $2.7169         62 trading days


(a)   12,600 options granted 1/22/97 exercisable at $2.625and outstanding for
      the entire year


(b)   178,000 options granted 1/21/98 exercisable at $3.625 and outstanding
      for the entire year

          First Quarter 1999                                                             Diluted
                178,000 - ((178,000*3.625)/avg price) =                                 (59,496)          Antidilutive

(c)   41,590 options granted 1/21/98 and vested 1/21/99, exercisable at
      $3.625

            First Quarter 1999                                                           Diluted
                  41,590 - ((41,590*3.625)/avg price) =                                 (13,901)          Antidilutive

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EARNINGS PER SHARE CALCULATION -  1st QUARTER 1999

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                                                                                Income                 Shares
Basic Earnings per Share:                                                     (Numerator)           (Denominator)          EPS
----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                             <C>                 <C>                   <C>
      Net Income                                                                     $295,942

      Common Shares Outstanding                                                                           11,301,218

      Basic EPS                                                                      $295,942             11,301,218         $0.03

                                                                                 Income                Shares
Diluted Earnings per Share:                                                   (Numerator)          (Denominator)          EPS
----------------------------------------------------------------------------------------------------------------------------------

      Net Income                                                                  $295,942             11,301,218

      Additional shares to be issued upon assumed exercise of incentive
      stock options (a)                                                                                    12,600

      Shares hypothetically repurchased at the average market price
      with the proceeds                                                                                   (12,174)

      Diluted EPS                                                                 $295,942             11,301,644            $0.03


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