EXHIBIT 11
EAGLE FINANCIAL SERVICES, INC. AND SUBSIDIARY
Computations of Weighted Average Shares Outstanding and Earnings Per Share
(Shares Outstanding End of Month)
Three Months Ended Nine Months Ended
September 30 September 30
2003 2002 2003 2002
------------ ------------ ------------ ------------
JAN --- --- 1,478,770 1,461,394
FEB --- --- 1,482,389 1,464,952
MAR --- --- 1,482,389 1,464,949
APR --- --- 1,482,389 1,464,947
MAY --- --- 1,486,036 1,468,772
JUN --- --- 1,487,320 1,468,772
JUL 1,487,319 1,468,772 1,487,319 1,468,772
AUG 1,490,780 1,472,392 1,490,780 1,472,392
SEP 1,490,780 1,472,389 1,490,780 1,472,389
OCT --- --- --- ---
NOV --- --- --- ---
DEC --- --- --- ---
------------ ------------ ------------ ------------
4,468,879 4,413,553 13,368,172 13,207,339
3 3 9 9
- ------------ ------------ ------------ ------------ ------------
Weighted
Average
Shares
Outstanding 1,489,626 1,471,184 1,485,352 1,467,482
- ------------ ------------ ------------ ------------ ------------
Net Income $ 1,105,970 $ 1,007,895 $ 3,002,708 $ 2,681,440
- ------------ ------------ ------------ ------------ ------------
Earnings Per
Share, Basic
and Diluted $ 0.74 $ 0.69 $ 2.02 $ 1.83
- ------------ ------------ ------------ ------------ ------------
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