EXHIBIT 11
Washington Trust Bancorp, Inc.
Computation of Primary and Fully Diluted Earnings Per Share
For the Years Ended December 31, 1996, 1995 and 1994
1996 1995 1994
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Primary:
Weighted average shares 4,326,904 4,249,454 4,224,741
Common stock equivalents 155,935 115,848 83,799
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Primary weighted average shares 4,482,839 4,365,302 4,308,540
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Fully diluted:
Weighted average shares 4,326,904 4,249,454 4,224,741
Common stock equivalents 181,530 158,521 84,421
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Fully diluted weighted average shares 4,508,434 4,407,975 4,309,162
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Net income $8,425,338 $7,687,967 $6,264,640
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Primary earnings per share $1.88 $1.76 $1.45
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Fully diluted earnings per share $1.87 $1.74 $1.45
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