HILLS BANCORPORATION | Exhibit 11 | |||||||||||
STATEMENT RE COMPUTATION OF BASIC AND DILUTED EARNINGS PER SHARE | ||||||||||||
Year Ended December 31, | ||||||||||||
2011 | 2010 | 2009 | ||||||||||
Shares of common stock, beginning | 4,398,337 | 4,422,274 | 4,440,545 | |||||||||
Shares of common stock, ending | 4,759,818 | 4,398,337 | 4,422,274 | |||||||||
Computation of weighted average number of basic and | ||||||||||||
diluted shares: | ||||||||||||
Common shares outstanding at the beginning of the year | 4,398,337 | 4,422,274 | 4,440,545 | |||||||||
Weighted average number of net shares issued (redeemed) | 52,461 | (14,984 | ) | (17,843 | ) | |||||||
Weighted average shares outstanding (basic) | 4,450,798 | 4,407,290 | 4,422,702 | |||||||||
Weighted average of potential dilutive shares | ||||||||||||
attributable to stock options granted, computed under | ||||||||||||
the treasury stock method | 7,724 | 10,968 | 12,812 | |||||||||
Weighted average number of shares (diluted) | 4,458,522 | 4,418,258 | 4,435,514 | |||||||||
Net income (In Thousands) | $ | 26,777 | $ | 23,316 | $ | 15,985 | ||||||
Earnings per share: | ||||||||||||
Basic | $ | 6.02 | $ | 5.29 | $ | 3.61 | ||||||
Diluted | $ | 6.01 | $ | 5.28 | $ | 3.60 | ||||||
Dividends per common share | $ | 1.00 | $ | 0.91 | $ | 0.91 |
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