First West Virginia Bancorp (FWV) 10-Q 2006 Q3 Quarterly report

EXHIBIT 11.1

Statement Regarding Computation of Per Share Earnings

Computation of Earnings Per Share

The following formula was used to calculate the earnings per share, Consolidated Statements of Income for the three and nine months ended September 30, 2006 and 2005, included in this report as Exhibit 13.3.

Earnings Per Share

Net Income / Weighted average shares of common stock outstanding for the period

	Three months ended September 30,
	2006		2005
Weighted Average Shares Outstanding		1,528,443		1,528,443
Net Income	$	591,693	$	613,555
Per Share Amount	$	0.39	$	0.40

	Nine months ended September 30,
	2006		2005
Weighted Average Shares Outstanding		1,528,443		1,528,443
Net Income	$	1,741,169	$	1,670,067
Per Share Amount	$	1.14	$	1.09

No common stock equivalents exist.