EX-11 4 sla3-11.txt EXHIBIT 11.1 Exhibit 11.1 SLADE'S FERRY BANCORP. AND SUBSIDIARY COMPUTATION OF PER SHARE EARNINGS (Unaudited)
Three months ended Nine months ended September 30 September 30 ---------------------------------------------------- 2004 2003 2004 2003 ---------------------------------------------------- Net income $1,071,203 $ 699,345 $2,318,930 $1,616,861 ---------------------------------------------------- Average shares outstanding 4,058,086 3,976,557 4,038,499 3,963,167 ---------------------------------------------------- Basic earnings per share $ 0.26 $ 0.18 $ 0.57 $ 0.40 ---------------------------------------------------- Net income $1,071,203 $ 699,345 $2,318,930 $1,616,861 ---------------------------------------------------- Average shares outstanding 4,058,086 3,976,557 4,038,499 3,963,167 Net effect of dilutive stock options 43,137 46,247 47,916 31,344 ---------------------------------------------------- Adjusted shares outstanding 4,101,223 4,022,804 4,086,415 3,994,511 ---------------------------------------------------- Diluted earnings per share $ 0.26 $ 0.17 $ 0.57 $ 0.41 ====================================================