Exhibit 11 Statement Re: Computation of Earnings Per Share UNITED BANKSHARES, INC. AND SUBSIDIARIES For the Quarter Ended March 31 ------------------------ PRIMARY: 1995 1994 - -------- ----------- ----------- Average Number of Common Shares 11,809,055 11,929,809 Average Number of Common Share Equivalents 73,360 93,454 ----------- ----------- Average Shares and Share Equivalents Outstanding 11,882,415 12,023,263 =========== =========== Net Income $ 6,897,000 $ 6,094,000 Preferred Dividends ----------- ----------- Available to Common Shares $ 6,897,000 $ 6,094,000 =========== =========== Earnings Per Common Share: $ 0.58 $ 0.51 =========== =========== FULLY DILUTED: - -------------- Average Number of Common Shares 11,809,055 11,929,809 Average Number of Common Share Equivalents 85,929 94,487 ----------- ----------- Average Shares and Share Equivalents Outstanding 11,894,984 12,024,296 =========== =========== Net Income $ 6,897,000 $ 6,094,000 Preferred Dividends ----------- ----------- Available to Common Shares $ 6,897,000 $ 6,094,000 =========== =========== Earnings Per Common Share $ 0.58 $ 0.51 =========== ===========