EXHIBIT 11 Washington Trust Bancorp, Inc. Computation of Per Share Earnings For the Three Months Ended March 31, 1999 and 1998 (In thousands, except per share amounts) 1999 1998 - --------------------------------------------------------------------------------------------- Basic Diluted Basic Diluted ------------ ------------- ------------ ------------ Net income $2,613 $2,613 $2,393 $2,393 Share amounts, in thousands: Average outstanding 10,057.0 10,057.0 9,973.9 9,973.9 Common stock equivalents - 275.0 - 411.6 - ------------------------------------- ------------ ------------- ------------ ------------ Weighted average outstanding 10,057.0 10,332.0 9,973.9 10,385.5 - ------------------------------------- ------------ ------------- ------------ ------------ Earnings per share $.26 $.25 $.24 $.23 - ------------------------------------- ------------ ------------- ------------ ------------