1 EXHIBIT 11 MAHASKA INVESTMENT COMPANY AND SUBSIDIARIES STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS (Not Covered by Auditor's Report) 1996 1995 1994 ---- ---- ---- EARNINGS PER SHARE INFORMATION: - ------------------------------- Weighted average number of shares outstanding during the year 2,246,651 2,277,944 1,686,821 Net earnings $ 4,494,394 3,922,697 2,780,175 Earnings per share $ 2.00 1.72 1.66