Exhibit 11.0
SLADE'S FERRY BANCORP AND SUBSIDIARY
COMPUTATION OF PER SHARE EARNINGS
(Unaudited)
Three months ended Nine months ended
September 30, September 30,
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2003 2002 2003 2002
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<s> <c> <c> <c> <c>
Net Income $ 699,345 $1,250,997 $1,616,861 $2,089,673
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Average shares outstanding 3,976,557 3,917,902 3,963,167 3,900,580
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Basic earnings per share $ 0.18 $ 0.32 $ 0.40 $ 0.54
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Net Income $ 699,345 $1,250,997 $1,616,861 $2,089,673
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Average shares outstanding 3,976,557 3,917,902 3,963,167 3,900,580
Net effect of dilutive stock options 46,247 26,679 31,344 29,180
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Adjusted shares outstanding 4,022,804 3,944,581 3,994,511 3,929,760
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Diluted earnings per share $ 0.17 $ 0.32 $ 0.41 $ 0.53
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