EAGLE BANCSHARES INC
10-Q, EX-11, 2000-11-20
SAVINGS INSTITUTION, FEDERALLY CHARTERED
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                                                                      EXHIBIT 11

                             EAGLE BANCSHARES, INC.

Statement re:     Computation of per share earnings

         Below is reconciliation for the three month periods ended September 30,
2000 and 1999, of the difference between average basic common shares outstanding
and average diluted common shares outstanding.

COMPUTATION OF PER SHARE EARNINGS

<TABLE>
<CAPTION>
(dollars in thousands except per share data)              THREE MONTHS ENDED
                                                    SEPT. 30, 2000   Sept. 30, 1999
                                                   ---------------------------------
<S>                                                <C>               <C>
Basic

Net income                                                  $2,141           $2,247
                                                   ---------------------------------

Average common shares                                        5,637            5,560
                                                   ---------------------------------

Earnings per common share - basic                           $ 0.38           $ 0.40
                                                   ---------------------------------

Diluted

Net income                                                  $2,141           $2,247
                                                   ---------------------------------

Average common shares - basic                                5,637            5,560
Incremental shares outstanding                                  33              117
Average common shares - diluted                              5,670            5,677
                                                   ---------------------------------

Earnings per common share - diluted                         $ 0.38           $ 0.40
                                                   ---------------------------------
</TABLE>

         Below is reconciliation for the six month periods ended September 30,
2000 and 1999, of the difference between average basic common shares outstanding
and average diluted common shares outstanding.

<TABLE>
<CAPTION>
 (dollars in thousands except per share data)                SIX MONTHS ENDED
                                                    SEPT. 30, 2000      Sept. 30, 1999
                                                    -----------------------------------
<S>                                                 <C>                 <C>
Basic

Net income                                                  $2,839              $4,688
                                                    -----------------------------------

Average common shares                                        5,637               5,560
                                                    -----------------------------------

Earnings per common share - basic                           $ 0.50              $ 0.84
                                                    -----------------------------------

Diluted

Net income                                                  $2,839              $4,688
                                                    -----------------------------------

Average common shares - basic                                5,637               5,560
Incremental shares outstanding                                  35                 120
Average common shares - diluted                              5,672               5,680
                                                    -----------------------------------

Earnings per common share - diluted                         $ 0.50              $ 0.83
                                                    -----------------------------------
</TABLE>


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