United Bancshares (UBOH) 10-Q 2001 Q2 Quarterly report

EXHIBIT 11

UNITED BANCSHARES, INC. AND SUBSIDIARIES

Computation of Earnings Per Share

			Three months ended				Six Months Ended
			June 30,				June 30,
			2001		2000			2001	2000
BASIC EARNINGS PER SHARE:
Net Income			$	865	$	507	$	1,252	$	1,037
Weighted average common shares outstanding			3,600,654		2,239,550		3,162,330		2,262,650
	BASIC EARNINGS PER SHARE		$	0.24	$	0.22	$	0.40	$	0.45
DILUTED EARNINGS PER SHARE:
Net Income			$	865	$	507	$	1,252	$	1,037
Weighted average common shares outstanding			3,600,654		2,239,550		3,162,330		2,262,650
Net effect of the assumed exercise of stock options			252,782		116,580		208,681		117,796
		Total	3,853,436		2,356,130		3,371,011		2,380,446
	DILUTED EARNINGS PER SHARE		$	0.22	$	0.21	$	0.37	$	0.43