EXHIBIT 11.1 STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS Mid Am, Inc. Computation of Primary Earnings per Share Dollars in thousands, Year Ended December 31, except per share data 1996 1995 1994 Reconciliation of net earnings to amounts used for primary earnings per share: Net earnings $25,992 $24,967 $23,253 Less: Preferred stock dividends Series A 2,407 2,751 2,917 Net earnings applicable to primary earnings per share $23,585 $22,216 $20,336 Reconciliation of weighted average number of shares to amount used in primary earnings per share computation: Average shares outstanding 20,667,000 20,972,000 20,917,000 Average common equivalent shares: Assumed exercise of options 319,000 154,000 34,000 Primary average shares outstanding 20,986,000 21,126,000 20,951,000 Primary earnings per share $1.12 $1.05 $0.97 <PAGE 2> Mid Am, Inc. Computation of Fully Diluted Earnings per Share Dollars in thousands, Year Ended December 31, except per share data 1996 1995 1994 Reconciliation of net earnings to amounts used for fully diluted earnings per share: Net earnings $25,992 $24,967 $23,253 Less: Preferred stock dividends Series A -- -- -- Net earnings applicable to fully diluted earnings per share $25,992 $24,967 $23,253 Reconciliation of weighted average number of shares to amount used in fully diluted earnings per share computation: Average shares outstanding 20,667,000 20,972,000 20,917,000 Average common equivalent shares: Assumed exercise of options 336,000 175,000 45,000 Assumed conversion of preferred stock 3,271,000 3,704,000 3,928,000 Fully diluted average shares outstanding 24,274,000 24,851,000 24,890,000 Fully diluted earnings per share $1.07 $1.01 $0.94