Washington Bancorp
Computation of Earnings per Common Share
Exhibit 11
<TABLE>
For the three months ended September 30,
-----------------------------------------------
2000 1999 2000 1999
Basic Basic Diluted Diluted
EPS EPS EPS EPS
------- -------- ------- -------
<S> <C> <C> <C> <C>
Computation of weighted average
number of common shares
outstanding:
Common shares outstanding
at the beginning of the period ........................ 651,133 651,133 651,133 651,133
Unreleased common shares held by the
Employee Stock Ownership
Plan (ESOP) at the beginning
of the period ......................................... (33,283) (37,972) (33,283) (37,972)
Weighted average common shares
released by the ESOP during
the period ............................................ 609 564 609 564
Weighted average common shares
outstanding - Stock Option Plan ....................... -- -- 7,466 10,001
Weighted average common shares
into treasury ......................................... (109,766) (51,913) (109,766) (51,913)
--------- --------- --------- ---------
Total average shares outstanding ........................... 508,693 561,812 516,159 571,813
========= ========= ========= =========
Net income ............................................ $ 259,348 $ 222,764 $ 259,348 $ 222,764
========= ========= ========= =========
Net income per share .................................. $ 0.51 $ 0.40 $ 0.50 $ 0.39
========= ========= ========= =========
</TABLE>
