EXHIBIT 11
                       COMPUTATION OF NET INCOME PER SHARE
           FOR THREE AND NINE MONTHS ENDED DECEMBER 31, 2004 AND 2003
                                   (Unaudited)
                       (In thousands, except share data)

<TABLE>
<CAPTION>
                                                        THREE MONTHS ENDED             NINE MONTHS ENDED
                                                           DECEMBER 31,                    DECEMBER 31,
                                                 --------------------------------- --------------------------
                                                      2004             2003           2004          2003
                                                 ---------------- ---------------- ------------ -------------
<S>                                                         <C>            <C>          <C>           <C>
Earnings per common share - basic
---------------------------------
Net income                                                  $920           $1,236       $2,257        $3,749
Preferred dividends                                          (16)             (49)        (114)         (148)
                                                 ---------------- ---------------- ------------ -------------
Net income - basic                                          $904           $1,187       $2,143        $3,601
                                                 ---------------- ---------------- ------------ -------------

Weighted average common shares
      outstanding - basic                              2,462,750        2,282,369    2,346,588     2,284,066
                                                 ---------------- ---------------- ------------ -------------

Earning per common share - basic                           $0.37            $0.52        $0.91         $1.58
                                                 ================ ================ ============ =============


Earnings per common share - diluted
-----------------------------------
Net income - basic                                          $904           $1,187       $2,143        $3,601
Preferred dividends                                           16               49          114           148
                                                 ---------------- ---------------- ------------ -------------
Net income- diluted                                         $920           $1,236       $2,257        $3,749
                                                 ---------------- ---------------- ============ =============

Weighted average common shares
      outstanding - basic                              2,462,750        2,282,369    2,346,588     2,284,066
Effect of dilutive securities - convertible
      preferred stock                                     33,967          208,333      150,000       208,333
Effect of dilutive securities - options                   90,770          112,358       94,065        86,598
                                                 ---------------- ---------------- ------------ -------------
Weighted average shares
      outstanding - diluted                            2,587,487        2,603,060    2,590,653     2,578,997
                                                 ---------------- ---------------- ============ =============

Earning per common share-diluted                           $0.36            $0.47        $0.87         $1.45
                                                 ================ ================ ============ =============
</TABLE>


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