Exhibit 11.1 ------------ SLADE'S FERRY BANCORP. AND SUBSIDIARY QUARTERLY DATA (UNAUDITED) Three Months Ended March 31, 2007 2006 ------------------------------------- (In thousands, except per share date) Net income $ 873 $ 907 ========== ========== Average common shares outstanding 4,080,047 4,149,686 ========== ========== Basic earnings per share $ 0.21 $ 0.22 ========== ========== Average common shares outstanding 4,080,047 4,149,686 Net effect of dilutive stock options 4,613 10,342 ---------- ---------- Adjusted common shares outstanding 4,084,660 4,160,028 ========== ========== Diluted earnings per share $ 0.21 $ 0.22 ========== ========== 34