Exhibit 11

MIDSOUTH BANCORP, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE (Unaudited)

	First Quarter		First Quarter
	March 31,		March 31,
BASIC	2004		2003
Earnings:
Income applicable to common stock	$	1,660,948	$	1,309,552
Shares:
Weighted average number of common shares outstanding		3,184,337		3,178,879
Earnings per common share:
Income applicable to common stock	$	0.52	$	0.41
DILUTED
Earnings:
Net income	$	1,660,948	$	1,309,552
Weighted average number of common shares outstanding		3,184,337		3,178,879
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		149,816		90,063
Weighted average number of common shares outstanding, as adjusted		3,334,153		3,268,942
Fully diluted earnings per common share	$	0.50	$	0.40