Exhibit 11

          NB&T Financial Group, Inc. and Subsidiaries
      Computation of Consolidated Earnings Per Common Share
       For the Three Months Ended March 31, 2001 and 2000
        (in thousands, except shares and per share data)



                                         For the Three Months
                                           Ended March 31,
                                         -------------------
                                           2001          2000
                                             
Net income                           $    1,445    $    1,318
                                      =========     =========
Weighted average
  common shares issued                3,205,551     3,188,314

  Less-Unreleased common shares
    held by ESOP                          9,402        13,253
                                      ---------     ---------
  Weighted average number of
    shares outstanding used in
    the calculation of basic
    earnings per common share         3,196,149     3,175,061

  Add -Dilutive effect of stock
    options (1)                          11,566        37,076
                                      ---------     ---------
Adjusted weighted average number
of shares outstanding used in the
calculation of diluted earnings
per common share                      3,207,715     3,212,137
                                      =========     =========

Basic earnings per common share           $0.45         $0.42

Diluted earnings per common share          0.45          0.41

<FN>
(1)  There is presently no active public trading market for the
     Company's shares, nor are the prices at which common shares
     have been traded published by any national securities
     association or quotation service.  Fair value for earnings
     per common share purposes was assumed to be $17.75 at March
     31, 2001, and $23.00 at March 31, 2000.
</FN>