Exhibit 11.1 ------------ SLADE'S FERRY BANCORP. AND SUBSIDIARY QUARTERLY DATA (UNAUDITED) Three Months Ended September 30, Nine Months Ended September 30, 2007 2006 2007 2006 -------------------------------- ------------------------------- (In thousands, except per share date) Net income $ 832 $ 1,043 $ 2,497 $ 2,576 ========== ========== ========== ========== Average common shares outstanding 4,011,313 4,162,753 4,045,921 4,079,396 ========== ========== ========== ========== Basic earnings per share $ 0.21 $ 0.25 $ 0.62 $ 0.62 ========== ========== ========== ========== Average common shares outstanding 4,011,313 4,162,753 4,045,921 4,079,396 Net effect of dilutive stock options and unvested restricted shares 13,237 11,707 12,972 15,356 ---------- ---------- ---------- ---------- Adjusted common shares outstanding 4,024,550 4,174,460 4,058,893 4,094,752 ========== ========== ========== ========== Diluted earnings per share $ 0.21 $ 0.25 $ 0.62 $ 0.62 ========== ========== ========== ========== 43