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MIDSOUTH BANCORP, INC. AND SUBSIDIARIES EXHIBIT 11
COMPUTATION OF EARNINGS PER SHARE (Unaudited)
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
Third Quarter Third Quarter Year-to-Date Year-to-Date
September 30, September 30, September 30, September 30,
BASIC 2000 1999 2000 1999
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<S> <C> <C> <C> <C>
Earnings:
Income applicable to common
stock $655,626 $680,328 $1,921,989 $1,878,749
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Shares:
Weighted average number of
common shares outstanding 2,489,829 2,448,731 2,484,202 2,435,075
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Earnings per common share:
Income applicable to common
stock $0.26 $0.28 $0.77 $0.77
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DILUTED
Earnings:
Net income as adjusted $688,281(FN1) $712,976(FN2) $2,028,108(FN1) $1,977,683(FN2)
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Weighted average number of
common shares outstanding 2,489,829 2,448,731 2,484,202 2,435,075
Assuming exercise of options,
reduced by the number of
shares which could have
been purchased with the
proceeds from exercise
of such options at the
average issue price 25,281 49,500 29,196 54,183
Assuming conversion of
preferred stock at a
conversion rate of 1 to
2.998 shares 386,088 459,668 402,620 464,504
___________ ___________ ___________ ___________
Weighted average number of
common shares
outstanding, as adjusted 2,901,198 2,957,899 2,916,018 2,953,762
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Diluted earnings per common share $0.24 $0.24 $0.70 $0.67
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(FN1) Represents net income reduced by a $107,250 charge relating to the
repurchase of preferred shares which are anti-dilutive.
(FN2) Represent net income
