Exhibit 11

MIDWESTONE FINANCIAL GROUP

AND SUBSIDIARIES

STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS

	Three Months Ended September 30,				Nine Months Ended September 30,
	2003		2002		2003		2002
Earnings per Share Information:
Weighted average number of shares outstanding during the year		3,828,419		3,895,825		3,871,562		3,880,085
Weighted average number of shares outstanding during the year including all dilutive potential shares		3,941,184		3,977,102		3,974,208		3,958,864
Net earnings	$	1,402,672	$	1,541,542	$	4,128,234	$	4,500,666
Earnings per share—basic	$	0.37	$	0.40	$	1.07	$	1.16
Earnings per share—diluted	$	0.36	$	0.39	$	1.04	$	1.14