EXHIBIT 11
Washington Trust Bancorp, Inc.
Computation of Per Share Earnings
For the Periods Ended June 30, 2003 and 2002
Three months ended June 30, 2003 2002
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(In thousands, except per share amounts) Basic Diluted Basic Diluted
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Net income $4,574 $4,574 $4,024 $4,024
Share amounts:
Average outstanding 13,089.4 13,089.4 12,858.7 12,858.7
Common stock equivalents - 215.5 - 206.4
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Weighted average outstanding 13,089.4 13,304.9 12,858.7 13,065.1
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Earnings per share $.35 $.34 $.31 $.31
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Six months ended June 30, 2003 2002
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(In thousands, except per share amounts) Basic Diluted Basic Diluted
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Net income $9,324 $9,324 $7,768 $7,768
Share amounts:
Average outstanding 13,074.4 13,074.4 12,434.1 12,434.1
Common stock equivalents - 190.8 - 188.3
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Weighted average outstanding 13,074.4 13,265.2 12,434.1 12,622.4
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Earnings per share $.71 $.70 $.62 $.62
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