Horizon Bancorp (HBNC) 10-Q 2006 Q1 Quarterly report

EXHIBIT 11

STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS

(Dollar amounts in thousands, except share per share data)

	Three Months Ended
	March 31,		March 31,
	2006		2005
1. Net income	$	1,449	$	1,303
2. Weighted average common shares outstanding		3,142,219		3,016,609
3. Common stock equivalents due to dilutive effect of stock options		60,987		123,713
4. Total weighted average common shares and equivalents outstanding		3,203,206		3,140,322
5. Basic earnings per share	$	.46	$	.43
6. Diluted earnings per share	$	.45	$	.42

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