<PAGE>
EXHIBIT 11.1
NATIONAL BANCSHARES CORPORATION OF TEXAS AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(In thousands, except per share amounts)
<TABLE>
<CAPTION>
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
---------------------------- ----------------------------
2000 1999 2000 1999
-------------- ------------ ------------- --------------
<S> <C> <C> <C> <C>
BASIC EPS:
Net income $ 0.37 $ 0.25 $ 0.93 $ 0.73
============== ============ ============= ==============
DILUTED EPS:
Net income $ 0.37 $ 0.24 $ 0.92 $ 0.71
============== ============ ============= ==============
<CAPTION>
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
---------------------------- ----------------------------
2000 1999 2000 1999
-------------- ------------ ------------- --------------
Income available to common stockholders $ 1,500 $ 1,045 $ 3,801 $ 3,034
============== ============ ============= ==============
Weighted average number of common
shares used in Basic EPS 4,006,852 4,150,726 4,088,388 4,161,711
Effect of dilutive stock options 25,598 120,048 45,160 121,277
-------------- ------------ ------------- --------------
Weighted number of common shares
and dilutive potential common stock
used in Diluted EPS 4,032,450 4,270,774 4,133,548 4,282,988
============== ============ ============= ==============
</TABLE>
23