Exhibit 11
Statement Re: Computation of Earnings Per Share
UNITED BANKSHARES, INC. AND SUBSIDIARIES
For the Quarter Ended For the Nine Months Ended
September 30 September 30
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1998 1997 1998 1997
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BASIC:
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Average Number of Common Shares 39,124,705 38,594,676 39,066,872 38,585,460
Net Income $15,654,000 $12,457,000 $36,222,000 $36,447,000
Preferred Dividends
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Available to Common Shares $15,654,000 $12,457,000 $36,222,000 $36,447,000
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Basic Earnings Per Common Share: $ 0.40 $ 0.32 $ 0.93 $ 0.94
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DILUTED:
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Average Number of Common Shares 39,124,705 38,594,676 39,066,872 38,585,460
Average Number of Common Share
Equivalents 695,718 785,246 686,995 610,948
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Average Shares and Share
Equivalents Outstanding 39,820,423 39,379,922 39,753,867 39,196,408
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Net Income $15,654,000 $12,457,000 $36,222,000 $36,447,000
Preferred Dividends
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Available to Common Shares $15,654,000 $12,457,000 $36,222,000 $36,447,000
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Diluted Earnings Per Common Share $ 0.39 $ 0.32 $ 0.91 $ 0.93
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