EXHIBIT 11

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

	First Quarter		First Quarter
	March 31,		March 31,
	2006		2005
BASIC
Earnings:
Income applicable to common stock	$	1,818,520	$	1,923,423
Shares:
Weighted average number of common shares outstanding		4,941,290		4,885,093
Earnings per common share:
Income applicable to common stock	$	0.37	$	0.39
DILUTED
Earnings:
Net income	$	1,818,520	$	1,923,423
Weighted average number of common shares outstanding		4,941,290		4,885,093
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		138,469		197,934
Weighted average number of common shares outstanding, as adjusted		5,079,759		5,083,027
Fully diluted earnings per common share	$	0.36	$	0.38