EX-11 3 washingtonexhbt11.txt Washington Bancorp Computation of Earnings per Common Share Exhibit 11 For the three months ended March 31, For the nine months ended March 31, ------------------------------------ ------------------------------------- 2002 2001 2002 2001 2002 2001 2002 2001 Basic Basic Diluted Diluted Basic Basic Diluted Diluted EPS EPS EPS EPS EPS EPS EPS EPS ---------------------------------------------------------------------------- Computation of weighted average number of common shares outstanding: Common shares outstanding at the beginning of the period .............. 651,133 651,133 651,133 651,133 651,133 651,133 651,133 651,133 Unreleased common shares held by the Employee Stock Ownership Plan (ESOP) at the beginning of the period ............................... (24,880) (30,848) (24,880) (30,848) (26,195) (33,283) (26,195) (33,283) Weighted average common shares released by the ESOP during the period .................................. 710 657 710 657 2,024 1,875 2,024 1,875 Weighted average common shares outstanding - Stock Option Plan ............. - - - - 13,067 8,173 - - - - 12,238 7,013 Weighted average common shares into treasury ............................... (143,895) (136,162) (143,895) (136,162) (138,659) (121,903) (138,959) (121,903) --------------------------------------------------------------------------------- Total average shares outstanding .............. 483,068 484,780 496,135 492,953 488,303 497,822 500,541 504,835 ================================================================================= Net income .................................... $ 205,414 $281,808 $205,414 $281,808 $833,085 $785,215 $833,085 $785,215 ================================================================================= Net income per share .......................... $ 0.43 $ 0.58 $ 0.41 $ 0.57 $ 1.71 $ 1.58 $ 1.66 $ 1.56 ================================================================================= 1