Exhibit 11
Washington Trust Bancorp, Inc.
Computation of Primary and Fully Diluted Earnings Per Share
For the Three Months and Nine Months Ended September 30, 1996 and 1995
Three Months Ended Nine Months Ended
September 30, September 30,
1996 1995 1996 1995
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Primary:
Weighted average shares 4,345,734 4,249,469 4,315,296 4,241,537
Common stock equivalents 157,785 134,814 144,516 106,588
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Primary weighted average shares 4,503,519 4,384,283 4,459,812 4,348,125
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Fully diluted:
Weighted average shares 4,345,734 4,249,469 4,315,296 4,241,537
Common stock equivalents 167,844 134,767 170,507 135,696
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Fully diluted weighted average shares 4,513,578 4,384,236 4,485,803 4,377,233
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Net income $2,320,527 $2,032,821 $6,356,500 $5,622,060
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Primary earnings per share $.52 $.46 $1.43 $1.29
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Fully diluted earnings per share $.51 $.46 $1.42 $1.28
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