1 EXHIBIT 11 MAHASKA INVESTMENT COMPANY AND SUBSIDIARIES STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS (Not Covered by Auditor's Report) 1997 1996 1995 ---- ---- ---- EARNINGS PER SHARE INFORMATION: Weighted average number of shares outstanding during the year 3,652,908 3,744,418 3,796,574 Weighted average number of shares outstanding during the year including all dilutive potential 3,784,657 3,771,093 3,807,571 shares Net earnings $ 5,058,225 4,494,394 3,922,697 Earnings per share - basic $ 1.38 1.20 1.03 Earnings per share - diluted $ 1.34 1.19 1.03