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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1996 1995 1996 1995
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PRIMARY:
Average Number of Common Shares 15,151,330 14,954,490 15,148,092 14,949,523
Average Number of Common Share
Equivalents 78,167 117,086 79,870 99,046
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Average Shares and Share
Equivalents Outstanding 15,229,497 15,071,576 15,227,962 15,048,569
=========== ========== =========== ===========
Net Income $11,223,000 $8,701,000 $20,576,000 $25,314,000
Preferred Dividends
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Available to Common Shares $11,223,000 $8,701,000 $20,576,000 $25,314,000
=========== ========== =========== ===========
Earnings Per Common Share: $0.74 $0.58 $1.35 $1.68
=========== ========== =========== ===========
FULLY DILUTED:
Average Number of Common Shares 15,151,330 14,954,490 15,148,092 14,949,523
Average Number of Common Share
Equivalents 86,788 123,156 86,788 123,156
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Average Shares and Share
Equivalents Outstanding 15,238,118 15,077,646 15,234,880 15,072,679
=========== ========== =========== ===========
Net Income $11,223,000 $8,701,000 $20,576,000 $25,314,000
Preferred Dividends
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Available to Common Shares $11,223,000 $8,701,000 $20,576,000 $25,314,000
=========== ========== =========== ===========
Earnings Per Common Share $0.74 $0.58 $1.35 $1.68
=========== ========== =========== ===========
30