Exhibit 11

MIDWESTONE FINANCIAL GROUP, INC.

AND SUBSIDIARIES

STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS

	Three Months Ended March 31,
	2006		2005
Earnings per Share Information:
Weighted average number of shares outstanding during the period		3,706,331		3,763,715
Weighted average number of shares outstanding during the period including all dilutive potential shares		3,771,216		3,855,748
Net earnings	$	1,918,892	$	1,730,107
Earnings per share—basic	$	0.52	$	0.46
Earnings per share—diluted	$	0.51	$	0.45

See note 4 of the accompanying notes to consolidated financial statements.