1 EXHIBIT 11 MAHASKA INVESTMENT COMPANY AND SUBSIDIARIES STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS (Not Covered by Auditor's Report) 1998 1997 1996 ---------- --------- --------- EARNINGS PER SHARE INFORMATION: - --------------------------------------- Weighted average number of shares outstanding during the year .......... 3,660,070 3,652,908 3,744,418 Weighted average number of shares outstandlng during the year including all dilutive potential shares ............................... 3,842,151 3,789,577 3,772,495 Net earnings .......................... $4,622,749 5,058,225 4,494,394 Earnings per share - basic ............ $ 1.26 1.38 1.20 Earnings per share - diluted .......... $ 1.20 1.33 1.19