Washington Bancorp
Computation of Earnings per Common Share
Exhibit 11
For the three months ended March 31, For the nine months ended March 31,
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2001 2000 2001 2000 2001 2000 2001 2000
Basic Basic Diluted Diluted Basic Basic Diluted Diluted
EPS EPS EPS EPS EPS EPS EPS EPS
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Computation of weighted average
number of common shares
outstanding:
Common shares outstanding
at the beginning of the period ............ 651,133 651,133 651,133 651,133 651,133 651,133 651,133 651,133
Unreleased common shares held by the
Employee Stock Ownership
Plan (ESOP) at the beginning
of the period ............................. (30,848) (35,718) (30,848) (35,718) (33,283) (37,972) (33,283) (37,972)
Weighted average common shares
released by the ESOP during
the period ................................ 657 609 657 609 1,875 1,736 1,875 1,736
Weighted average common shares
outstanding - Stock Option Plan ........... -- -- 8,173 6,786 -- -- 7,013 9,179
Weighted average common shares
into treasury ............................. (136,162) (74,261) (136,162) (74,261) (121,903) (60,182) (121,903) (60,182)
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Total average shares outstanding ................ 484,780 541,763 492,953 548,549 497,822 554,715 504,835 563,894
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Net income ...................................... $281,808 $ 285,278 $281,808 $285,278 $785,215 $786,554 $785,215 $786,554
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Net income per share ............................ $ 0.58 $ 0.53 $ 0.57 $ 0.52 $ 1.58 $ 1.42 $ 1.56 $ 1.39
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