Exhibit 11
EASTERN BANCORP, INC.
Computation of Primary and Fully diluted Earnings Per Share
For the Years Ended September 30,
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1996 1995 1994
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NET INCOME $3,304 $4,195 $3,659
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PRIMARY
Shares:
Weighted-average number
of common shares outstanding 3,634,577 3,588,481 3,534,208
Dilutive effect of outstanding
stock options 173,147 133,092 124,302
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Weighted-average number of
common shares and common
stock equivalents 3,807,724 3,721,573 3,658,510
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Earnings per share $0.87 $1.13 $1.00
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ASSUMING FULL DILUTION:
Shares:
Weighted-average number
of common shares outstanding 3,634,577 3,588,481 3,534,208
Fully diluted effect of outstanding
stock options 220,391 141,576 133,884
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Weighted-average number of
common shares and common
stock equivalents 3,854,968 3,730,057 3,668,092
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Earnings per share $0.86 $1.12 $1.00
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