Exhibit 11.0Computation of Per Share Earnings

During the third quarter of 1998, the Company adopted Statement of Financial Accounting Standards No. 128,Earnings Per Share(SFAS No. 128). Basic earnings per
share is calculated by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per share is
calculated by dividing net income by average number of shares adjusted for the dilutive effect of outstanding stock options. ESOP shares are only considered outstanding for earnings per share
calculations when they are committed to be released. Earnings per share of common stock for the nine months ended September 30, 1998 has been determined by dividing net loss from
April 3, 1998 (date of initial public offering) through September 30, 1998 by the weighted average number of shares of common stock outstanding.

Presented
below are the calculations for the basic and diluted earnings per share:

|                                             |  | Three Months
Ended
September 30,
1999 |           | Three Months
Ended
September 30,
1998 |           | Nine Months
Ended
September 30,
1999 |           | April 3,
Through
September 30,
1998 |           
|-------------------------------------------- |  | ------------------------------------- | --------- | ------------------------------------- | --------- | ------------------------------------ | --------- | ----------------------------------- | ----------
|Basic:                                       |  |                                       |           |                                       |           |                                      |           |                                     |           
|Net income                                   |  | $                                     | 969,448   |                                       | 1,069,681 |                                      | 3,081,317 |                                     | (1,409,363
|Weighted average shares outstanding          |  |                                       | 4,874,633 |                                       | 6,914,241 |                                      | 5,829,065 |                                     | 6,914,241 
|                                             |  |                                       |           |                                       |           |                                      |           |                                     |           
|Basic earnings per share                     |  | $                                     | 0.20      |                                       | 0.15      |                                      | 0.53      |                                     | (0.20     
|                                             |  |                                       |           |                                       |           |                                      |           |                                     |           
|Diluted:                                     |  |                                       |           |                                       |           |                                      |           |                                     |           
|Net income                                   |  | $                                     | 969,448   |                                       | 1,069,681 |                                      | 3,081,317 |                                     | (1,409,363
|Weighted average shares outstanding          |  |                                       | 4,874,633 |                                       | 6,914,241 |                                      | 5,829,065 |                                     | 6,914,241 
|Effect of dilutive stock options outstanding |  |                                       |          |                                       |          |                                      |          |                                     |          
|                                             |  |                                       |           |                                       |           |                                      |           |                                     |           
|Diluted weighted average shares
outstanding  |  |                                       | 4,874,633 |                                       | 6,914,241 |                                      | 5,829,065 |                                     | 6,914,241 
|                                             |  |                                       |           |                                       |           |                                      |           |                                     |           
|Diluted earnings per share                   |  | $                                     | 0.20      |                                       | 0.15      |                                      | 0.53      |                                     | (0.20     
|                                             |  |                                       |           |                                       |           |                                      |           |                                     |