EXHIBIT 11
MIDSOUTH BANCORP, INC. AND SUBSIDIARIES
Computation of Earnings Per Share (Unaudited)
For the Three and Nine Months Ended September 30, 2006 and 2005
Third Quarter | Third Quarter | Year-to-Date | Year-to-Date | ||||||||||
September 30, | September 30, | September 30, | September 30, | ||||||||||
BASIC | 2006 | 2005 | 2006 | 2005 | |||||||||
Earnings: | |||||||||||||
Income applicable to common stock | $ | 2,417,137 | $ | 1,633,888 | $ | 6,471,411 | $ | 5,597,564 | |||||
Shares: | |||||||||||||
Weighted average number of common shares outstanding | 6,235,994 | 6,132,229 | 6,201,429 | 6,124,389 | |||||||||
Earnings per common share: | |||||||||||||
Income applicable to common stock | $ | 0.39 | $ | 0.27 | $ | 1.04 | $ | 0.91 | |||||
DILUTED | |||||||||||||
Earnings: | |||||||||||||
Net income | $ | 2,417,137 | $ | 1,633,888 | $ | 6,471,411 | $ | 5,597,564 | |||||
Weighted average number of common shares outstanding | 6,235,994 | 6,132,229 | 6,201,429 | 6,124,389 | |||||||||
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 | 110,276 | 226,080 | 106,831 | 219,771 | |||||||||
Weighted average number of common shares outstanding, as adjusted | 6,346,270 | 6,358,309 | 6,308,260 | 6,344,160 | |||||||||
Fully diluted earnings per common share | $ | 0.38 | $ | 0.26 | $ | 1.02 | $ | 0.88 |