EXHIBIT 11 EAGLE FINANCIAL SERVICES, INC. AND SUBSIDIARY Computations of Weighted Average Shares Outstanding and Earnings Per Share (Shares Outstanding End of Month) Three Months Ended Three Months Ended March 30 March 31, 2000 2000 1999 2000 1999 ------------ ------------ ------------ ------------ JAN 1,432,797 1,418,341 1,432,797 1,418,341 FEB 1,435,016 1,420,287 1,435,016 1,420,287 MAR 1,435,016 1,420,287 1,435,016 1,420,287 APR --- --- --- --- MAY --- --- --- --- JUN --- --- --- --- JUL --- --- --- --- AUG --- --- --- --- SEP --- --- --- --- OCT --- --- --- --- NOV --- --- --- --- DEC --- --- --- --- ------------ ------------ ------------ ------------ 4,302,829 4,258,915 4,302,829 4,258,915 3 3 3 3 - ------------ ------------ ------------ ------------ ------------ Weighted Average Shares Outstanding 1,434,276 1,419,638 1,434,276 1,49,638 - ------------ ------------ ------------ ------------ ------------ Net Income $ 488,638 $ 367,047 $ 488,638 $ 367,047 - ------------ ------------ ------------ ------------ ------------ Earnings Per Share, Basic and Diluted $ 0.34 $ 0.26 $ 0.34 $ 0.26 - ------------ ------------ ------------ ------------ ------------ 14