EXHIBIT 11

MIDSOUTH BANCORP, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE (Unaudited)
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003

	Third Quarter		Third Quarter		Year-to-Date		Year-to-Date
	September 30,		September 30,		September 30,		September 30,
	2004		2003		2004		2003
BASIC
Earnings:
Income applicable to common stock	$	1,954,116	$	1,734,567	$	5,360,431	$	4,668,260
Shares:
Weighted average number of common shares outstanding		3,183,057		3,173,579		3,186,058		3,174,972
Earnings per common share:
Income applicable to common stock	$	0.61	$	0.55	$	1.68	$	1.47
DILUTED
Earnings:
Net income	$	1,954,116	$	1,734,567	$	5,360,431	$	4,668,260
Weighted average number of common shares outstanding		3,183,057		3,173,579		3,186,058		3,174,972
Assuming exercise of options, reduced by the number of shares which could have been purchased with the proceeds from exercise of such options at the average issue price		143,989		151,924		143,339		128,834
Weighted average number of common shares outstanding, as adjusted		3,327,046		3,325,503		3,329,397		3,303,806
Fully diluted earnings per common share	$	0.59	$	0.52	$	1.61	$	1.41