Exhibit 11 MAHASKA INVESTMENT COMPANY AND SUBSIDIARIES STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS Three Months Ended Nine Months Ended September 30, September 30, 2001 2000 2001 2000 ---------- ---------- ----------- ---------- Earnings per Share Information: ------------------------------------------------- Weighted average number of shares outstanding during the year .................. 3,965,326 3,939,314 3,963,377 4,090,055 Weighted average number of shares outstanding during the year including all dilutive potential shares ...... 4,009,252 3,940,773 3,996,971 4,095,766 Net earnings .................................... $1,086,860 $ 926,134 $3,058,320 $3,010,554 Earnings per share - basic ...................... $ 0.27 $ 0.24 $ 0.77 $ 0.74 Earnings per share - diluted .................... $ 0.27 $ 0.24 $ 0.77 $ 0.74