<DOCUMENT>
<TYPE>EX-11
<SEQUENCE>3
<FILENAME>slad1-x11.txt
<DESCRIPTION>EXHIBIT 11.1
<TEXT>

                                                                Exhibit 11.1
                                                                ------------

                    SLADE'S FERRY BANCORP. AND SUBSIDIARY
                      COMPUTATION OF PER SHARE EARNINGS
                                 (Unaudited)

<TABLE>
<CAPTION>

(Dollars in Thousands)                     2005          2004
----------------------------------------------------------------

<s>                                     <c>           <c>
Net income                              $    1,065    $      646
                                        ==========    ==========

Average shares outstanding               4,076,707     4,012,654
                                        ==========    ==========

Basic earnings per share                $     0.26    $     0.16
                                        ==========    ==========

Average shares outstanding               4,076,707     4,012,654

Net effect of dilutive stock options        36,549        57,201
                                        ----------    ----------

Adjusted shares outstanding              4,113,256     4,069,855
                                        ==========    ==========

Diluted earnings per share              $     0.26    $     0.16
                                        ==========    ==========
</TABLE>


<PAGE>

</TEXT>
</DOCUMENT>