EXHIBIT 11 Washington Trust Bancorp, Inc. Computation of Per Share Earnings For the Six Months Ended June 30, 1997 and 1996 Three Months Six Months ----------------- --------- ----------------- ---------- Periods ended June 30, 1997 1996 1997 1996 - ------------------------------------------------- ----------------- --------- ----------------- ---------- (In thousands, except per share amounts) Primary: Weighted average shares 4,386.6 4,340.9 4,376.5 4,299.9 Common stock equivalents 153.3 138.6 165.0 138.7 ------------- ------------- -------------- ------------- Primary weighted average shares 4,539.9 4,479.5 4,541.5 4,438.6 ------------- ------------- -------------- -------------- Fully diluted: Weighted average shares 4,386.6 4,340.9 4,376.5 4,299.9 Common stock equivalents 164.9 152.5 170.4 160.4 ------------- ------------- ------------- -------------- Fully diluted weighted average shares 4,551.5 4,493.4 4,546.9 4,460.3 ------------- ------------- ------------- -------------- Net income $2,261 $2,027 $4,412 $4,036 ------------- ------------- ------------- -------------- Primary earnings per share $.50 $.45 $.97 $.91 ------------- ------------- ------------- -------------- Fully diluted earnings per share $.50 $.45 $.97 $.90 ------------- ------------- ------------- --------------