Exhibit 11 MAHASKA INVESTMENT COMPANY AND SUBSIDIARIES STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS 2002 2001 2000 ---------- --------- --------- Earnings per Share Information: - ------------------------------- Weighted average number of shares outstanding during the year ................... 3,890,891 3,951,271 4,052,163 Weighted average number of shares outstanding during the year including all dilutive potential shares ....... 3,974,818 3,986,156 4,056,921 Net earnings .................................... $5,789,111 4,355,664 4,000,633 Earnings per share - basic ...................... $ 1.49 1.10 0.99 Earnings per share - diluted .................... $ 1.46 1.09 0.99