Washington Bancorp Exhibit 11
Computation of Earnings per Common Share
For the three months ended December 31, For the six months ended December 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
Employee Stock Ownership
Plan (ESOP) at the beginning
of the period .................... (26,905) (32,066) (26,905) (32,066) (28,219) (33,283) (28,219) (33,283)
Weighted average common shares
released by the ESOP during
the period ....................... 657 609 657 609 1,315 1,218 1,315 1,218
Weighted average common shares
outstanding - Stock Option Plan .. -- -- 13,350 7,219 -- -- 12,596 7,302
Weighted average common shares
into treasury .................... (140,415) (119,962) (140,415) (119,962) (136,388) (114,864) (136,388) (114,864)
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Total average shares outstanding ....... 484,470 499,714 497,820 506,933 487,841 504,204 500,436 511,506
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Net income ............................. $317,821 $241,510 $317,821 $241,510 $627,671 $503,406 $627,671 $503,406
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Net income per share ................... $ 0.66 $ 0.48 $ 0.64 $ 0.48 $ 1.29 $ 1.00 $ 1.25 $ 0.98
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