Exhibit 11 MAHASKA INVESTMENT COMPANY AND SUBSIDIARIES STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS 1999 1998 1997 ---------- --------- --------- Earnings per Share Information: - --------------------------------------------------- Weighted average number of shares outstanding during the year .................... 3,864,108 3,660,070 3,652,908 Weighted average number of shares outstanding during the year including all dilutive potential shares ........ 3,946,171 3,842,151 3,789,577 Net earnings ...................................... $2,222,483 4,622,749 5,058,225 Earnings per share - basic ........................ $ 0.58 1.26 1.38 Earnings per share - diluted ...................... $ 0.56 1.20 1.33