EXHIBIT 11
MIDSOUTH BANCORP, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE (Unaudited)
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
Third Quarter | Third Quarter | Year-to-Date | Year-to-Date | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||||
2004 | 2003 | 2004 | 2003 | |||||||||||||
BASIC | ||||||||||||||||
Earnings: | ||||||||||||||||
Income applicable to common stock | $ | 1,954,116 | $ | 1,734,567 | $ | 5,360,431 | $ | 4,668,260 | ||||||||
Shares: | ||||||||||||||||
Weighted average number of common shares outstanding | 3,183,057 | 3,173,579 | 3,186,058 | 3,174,972 | ||||||||||||
Earnings per common share: | ||||||||||||||||
Income applicable to common stock | $ | 0.61 | $ | 0.55 | $ | 1.68 | $ | 1.47 | ||||||||
DILUTED | ||||||||||||||||
Earnings: | ||||||||||||||||
Net income | $ | 1,954,116 | $ | 1,734,567 | $ | 5,360,431 | $ | 4,668,260 | ||||||||
Weighted average number of common shares outstanding | 3,183,057 | 3,173,579 | 3,186,058 | 3,174,972 | ||||||||||||
Assuming exercise of options, reduced by the number of shares which could have been purchased with the proceeds from exercise of such options at the average issue price | 143,989 | 151,924 | 143,339 | 128,834 | ||||||||||||
Weighted average number of common shares outstanding, as adjusted | 3,327,046 | 3,325,503 | 3,329,397 | 3,303,806 | ||||||||||||
Fully diluted earnings per common share | $ | 0.59 | $ | 0.52 | $ | 1.61 | $ | 1.41 | ||||||||