# EXHIBIT 11

Statement Regarding
Computation of Per Share Earnings

Three Months Ended
September 30, 2004 and 2003

(Dollars in thousands,
except per share amounts)

|                                                             | Three
      months ended September 30, |           
|------------------------------------------------------------ | -------------------------------------- | ----------
|                                                             |                                        |           
|                                                             | 2004                                   |           
|                                                             |                                        |           
|                                                             |                                        |           
|Net income                                                   | $                                      | 3,788     
|                                                             |                                        |           
|                                                             |                                        |           
|Number
      of shares outstanding (1):                      |                                        |           
|Weighted
      average shares issued and outstanding         |                                        | 13,735,629
|Less: Average
      shares held by the ESOP                  |                                        |          
|Plus: ESOP
      shares released or committed to be released |                                        |           
|during
      the fiscal year                                 |                                        |          
|                                                             |                                        |           
|Average basic
      shares                                   |                                        | 13,735,629
|Plus: Average
      common stock equivalents                 |                                        | 460,093   
|                                                             |                                        |           
|Average diluted
      shares                                 |                                        | 14,195,722
|                                                             |                                        |           
|                                                             |                                        |           
|Earnings
      per common share (1):                         |                                        |           
|Basic                                                        | $                                      | 0.28      
|                                                             |                                        |           
|Diluted                                                      | $                                      | 0.27      
|                                                             |                                        |           

---

|(1) | Share
and per share amounts are adjusted for the two-for-one stock split in the form of a 100%
stock dividend declared on September 29, 2004 and paid on October 29, 2004 to common
stockholders of record as of October 15, 2004.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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