MVB Financial (MVBF) 10-K 2012 FY Annual report

Exhibit 11

Earnings Per Share

Earnings per Share are calculated as follows:

(in thousands, except shares and per share amounts)

	For the years ended December 31,
	2012		2011
Numerator for both basic and diluted earnings per share:
Net Income	$	4,168	$	2,702
Less: Dividends on preferred stock		136		44
Denominator:
Total average shares outstanding		2,194,325		2,147,890
Effect of dilutive stock options		2,254,617		2,194,410
Total diluted average shares outstanding
Earnings Per Share - Basic	$	1.84	$	1.24
Earnings Per Share - Diluted	$	1.79	$	1.21

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