Exhibit 11.0
SLADE'S FERRY BANCORP AND SUBSIDIARY
COMPUTATION OF PER SHARE EARNINGS
(Unaudited)
Three months ended Six months ended
June 30, June 30,
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2003 2002 2003 2002
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Net Income $1,609,696 $ 56,754 $ 917,516 $ 838,676
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Average shares outstanding 3,964,054 3,903,564 3,956,361 3,891,775
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Basic earnings per share $ 0.41 $ 0.01 $ 0.23 $ 0.22
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Net Income $1,609,696 $ 56,754 $ 917,516 $ 838,676
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Average shares outstanding 3,964,054 3,903,564 3,956,361 3,891,775
Net effect of dilutive stock options 25,231 30,823 22,986 30,745
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Adjusted shares outstanding 3,989,285 3,934,387 3,979,347 3,922,520
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Diluted earnings per share $ 0.40 $ 0.01 $ 0.23 $ 0.21
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