Enterprise Financial Services (EFSC) 10-K 2005 FY Annual report

EXHIBIT 11.1

STATEMENT REGARDING COMPUTATION OF PER EARNINGS SHARE

	Basic EPS number of shares		Diluted EPS number of shares		Net Income		Basic EPS		Diluted EPS
12 months ended December 31, 2003		9,566,059		9,875,141	$	6,925,219	$	0.72	$	0.70
12 months ended December 31, 2004		9,695,500		10,054,691	$	8,214,527	$	0.85	$	0.82
12 months ended December 31, 2005		10,103,074		10,747,097	$	11,295,368	$	1.12	$	1.05

12 months ended December 31, 2003	Basic				Diluted
Average Shares Outstanding		9,566,059				9,566,059
Options - Plan 2				13,200
Average Option Price			$	5.88
Total Exercise Cost			$	77,616
Shares Repurchased				5,836
Net Shares from Option - Plan 2						7,364
Options - Plan 3				401,144
Average Option Price			$	6.94
Total Exercise Cost			$	2,783,939
Shares Repurchased				209,319
Net Shares from Option - Plan 3						191,825
Options - Plan 4				542,500
Average Option Price			$	12.13
Total Exercise Cost			$	6,580,525
Shares Repurchased				494,776
Net Shares from Option - Plan 4						47,724
Options - Plan 5				327,057
Average Option Price			$	11.85
Total Exercise Cost			$	3,875,625
Shares Repurchased				291,400
Net Shares from Option - Plan 5						35,657
Options - EFA Non-qualified				90,236
Average Option Price			$	10.13
Total Exercise Cost			$	914,091
Shares Repurchased				68,729
Net Shares from Option - EFA Non-qualified						21,507
Options - CGB Qualified				17,568
Average Option Price			$	10.73
Total Exercise Cost			$	188,505
Shares Repurchased				14,173
Net Shares from Option - CGB Qualified						3,395
Options - CGB Non-qualified				10,816
Average Option Price			$	11.32
Total Exercise Cost			$	122,437
Shares Repurchased				9,206
Net Shares from Option - CGB Non-qualified						1,610
Options - Moneta				186,496
Average Option Price			$	12.43
Total Exercise Cost			$	2,318,145
Shares Repurchased				174,297
Net Shares from Option - Moneta						0
Stock Appreciation Rights				65,916
Average Stock Appreciation Rights Price			$	11.91
Total Exercise Cost			$	785,060
Shares Repurchased				59,027
Net Shares from Stock Appreciation Rights						0
Additional Grant (July 1)				5,455
				13.65
			$	74,459
				5,598
Gross Shares		9,566,059				9,875,141
Price			$	13.30

Moneta options and Stock Appreciation Rights are anti-dilutive due to the impact of adjusting net income for the expense associated with each plan during the year.

12 months ended December 31, 2004	Basic				Diluted
Average Shares Outstanding		9,695,500				9,695,500
Options - Plan 2				13,200
Average Option Price			$	5.88
Total Exercise Cost			$	77,616
Shares Repurchased				5,287
Net Shares from Option - Plan 2						7,913
Options - Plan 3				316,913
Average Option Price			$	7.43
Total Exercise Cost			$	2,354,664
Shares Repurchased				160,399
Net Shares from Option - Plan 3						156,514
Options - Plan 4				546,413
Average Option Price			$	12.30
Total Exercise Cost			$	6,720,880
Shares Repurchased				457,826
Net Shares from Option - Plan 4						88,587
Options - Plan 5 - Omnibus				450,853
Average Option Price			$	12.25
Total Exercise Cost			$	5,522,949
Shares Repurchased				376,223
Net Shares from Option - Plan 5						74,630
Options - EFA Non-qualified				86,571
Average Option Price			$	10.10
Total Exercise Cost			$	874,367
Shares Repurchased				59,562
Net Shares from Option - EFA Non-qualified						27,009
Options - CGB Qualified				498
Average Option Price			$	11.67
Total Exercise Cost			$	5,812
Shares Repurchased				396
Net Shares from Option - CGB Qualified						102
Options - Moneta				194,994
Average Option Price			$	12.48
Total Exercise Cost			$	2,433,525
Shares Repurchased				165,771
Net Shares from Option - Moneta						0
Stock Appreciation Rights				22,930
Average Stock Appreciation Rights Price			$	11.84
Total Exercise Cost			$	271,491
Shares Repurchased				18,494
Net Shares from Stock Appreciation Rights						4,436
Gross Shares		9,695,500				10,054,691
Average Market Price			$	14.68

Moneta options are anti-dilutive due to the impact of adjusting net income for the expense associated with the plan during the year.

12 months ended December 31, 2005	Basic				Diluted
Average Shares Outstanding		10,103,074				10,103,074
Options - Plan 2				9,150
Average Option Price			$	6.11
Total Exercise Cost			$	55,907
Shares Repurchased				2,652
Net Shares from Option - Plan 2						6,498
Options - Plan 3				158,873
Average Option Price			$	8.71
Total Exercise Cost			$	1,383,784
Shares Repurchased				65,644
Net Shares from Option - Plan 3						93,229
Options - Plan 4				436,330
Average Option Price			$	12.37
Total Exercise Cost			$	5,397,402
Shares Repurchased				256,044
Net Shares from Option - Plan 4						180,286
Options - Plan 5 - Omnibus	��			399,830
Average Option Price			$	12.13
Total Exercise Cost			$	4,849,938
Shares Repurchased				230,073
Net Shares from Option - Plan 5						169,757
Options - EFA Non-qualified				18,904
Average Option Price			$	10.00
Total Exercise Cost			$	189,040
Shares Repurchased				8,968
Net Shares from Option - EFA Non-qualified						9,936
Options - Moneta				189,256
Average Option Price			$	12.43
Total Exercise Cost			$	2,352,452
Shares Repurchased				111,596
Net Shares from Option - Moneta						77,660
Stock Appreciation Rights				7,800
Average Stock Appreciation Rights Price			$	11.53
Total Exercise Cost			$	89,934
Shares Repurchased				4,266
Net Shares from Stock Appreciation Rights						0
Restricted Share Units						106,657
Gross Shares		10,103,074				10,747,097
Average Market Price			$	21.08

Stock Appreciation Rights are anti-dilutive due to the impact of adjusting net income for the expense associated with the plan during the year.