1 EXHIBIT 11 MAHASKA INVESTMENT COMPANY AND SUBSIDIARIES STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30 JUNE 30 -------------------------- -------------------------- 1999 1998 1999 1998 ---- ---- ---- ---- EARNINGS PER SHARE INFORMATION: Weighted average number of shares outstanding during the year............. 3,652,376 3,680,490 3,644,405 3,676,858 Weighted number of shares outstanding during the year outstanding during the year including all dilutive potential shares.................................. 3,728,534 3,874,962 3,743,010 3,880,760 Net earnings.............................. $ (319,172) $1,374,130 $ 838,072 $2,803,677 Earnings per share -- basic............... $ (0.09) $ 0.37 $ 0.23 $ 0.76 Earnings per share -- diluted............. $ (0.09) $ 0.35 $ 0.22 $ 0.72 Page 18 of 19