##### 



Exhibit 11 Riggs National Corporation
Computation of Per Share Earnings
(In thousands, except per share data) Years Ended December 31,2004
    
    
    2003
    
    
    2002Basic Earnings Per Share:Income Available to Commons Shareholders
    
    $
        (98,289
    )
    
    $
    979
    
    
    $
    13,021Weighted-Average Shares Outstanding
    
    
    30,025,352
    
    
    
    28,609,296
    
    
    
    28,505,405Basic EPS
    
    $
        (3.27
    )
    
    $
    0.03
    
    
    $
    0.46Diluted Earnings Per Share:Income Available to Commons Shareholders
    
    $
        (98,289
    )
    
    $
    979
    
    
    $
    13,021Diluted Weighted-Average Shares Outstanding:Weighted-Average Shares Outstanding
    
    
    30,025,352
    
    
    
    28,609,296
    
    
    
    28,505,405Weighted-Average Dilutive Effect of Stock
    
    
    
    
    
    
    967,789
    
    
    
    398,794Option Plans & Unvested Deferred Stock
AwardsAdjusted Weighted-Average Shares Outstanding
    
    
    30,025,352
    
    
    
    29,577,085
    
    
    
    28,904,199Diluted EPS*
    
    
        (3.27
    )
    
    
    0.03
    
    
    
    0.45Basic Earnings Per Share-Continuing Operations:Income Available to Commons Shareholders
    
    $
        (99,959
    )
    
    $
    705
    
    
    $
    13,154Weighted-Average Shares Outstanding
    
    
    30,025,352
    
    
    
    28,609,296
    
    
    
    28,505,405Basic EPS-Continuing Operations
    
    $
        (3.33
    )
    
    $
    0.02
    
    
    $
    0.46Diluted Earnings Per Share-Continuing Operations:Income Available to Commons Shareholders
    
    $
        (99,959
    )
    
    $
    705
    
    
    $
    13,154Diluted Weighted-Average Shares Outstanding:Weighted-Average Shares Outstanding
    
    
    30,025,352
    
    
    
    28,609,296
    
    
    
    28,505,405Weighted-Average Dilutive Effect of Stock
    
    
    
    
    
    
    967,789
    
    
    
    398,794Option Plans & Unvested Deferred Stock
AwardsAdjusted Weighted-Average Shares Outstanding
    
    
    30,025,352
    
    
    
    29,577,085
    
    
    
    28,904,199Diluted EPS*-Continuing Operations
    
    $
        (3.33
    )
    
    
    0.02
    
    
    
    0.46Basic Earnings Per Share-Discontinued Operations:Income Available to Commons Shareholders
    
    $
    1,670
    
    
    $
    274
    
    
    $
    (133
    )Weighted-Average Shares Outstanding
    
    
    30,025,352
    
    
    
    28,609,296
    
    
    
    28,505,405Basic EPS-Discontinued Operations
    
    $
    .06
    
    
    $
    0.01
    
    
    $
    (0.00
    )Diluted Earnings Per Share-Discontinued Operations:Income Available to Commons Shareholders
    
    $
    1,670
    
    
    $
    274
    
    
    $
    (133
    )Diluted Weighted-Average Shares Outstanding:Weighted-Average Shares Outstanding
    
    
    30,025,352
    
    
    
    28,609,296
    
    
    
    28,505,405Weighted-Average Dilutive Effect of Stock
    
    
    
    
    
    
    967,789
    
    
    
    398,794Option Plans & Unvested Deferred Stock
AwardsAdjusted Weighted-Average Shares Outstanding
    
    
    30,025,352
    
    
    
    29,577,085
    
    
    
    28,904,199Diluted EPS*-Discontinued Operations
    
    
    .06
    
    
    
    0.01
    
    
    
    (0.00
    )
   *