EXHIBIT 11 Washington Trust Bancorp, Inc. Computation of Per Share Earnings For the Periods Ended March 31, 2003 and 2002 Three months ended March 31, 2003 2002 - --------------------------------------------------------------------------------------------------------------------- (In thousands, except per share amounts) Basic Diluted Basic Diluted ---------------- ---------------- ----------------- ---------------- Net income $4,750 $4,750 $3,744 $3,744 Share amounts: Average outstanding 13,059.3 13,059.3 12,004.9 12,004.9 Common stock equivalents - 170.9 - 169.7 - ------------------------------------------------ ---------------- ---------------- ----------------- ---------------- Weighted average outstanding 13,059.3 13,230.2 12,004.9 12,174.6 - ------------------------------------------------ ---------------- ---------------- ----------------- ---------------- Earnings per share $.36 $.36 $.31 $.31 - ------------------------------------------------ ---------------- ---------------- ----------------- ----------------