Exhibit 11
Statement Re: Computation of Earnings Per Share
UNITED BANKSHARES, INC. AND SUBSIDIARIES
For the Quarter Ended For the Six Months Ended
June 30 June 30
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1997 1996 1997 1996
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PRIMARY:
Average Number of Common Shares 14,949,007 15,146,697 14,992,191 15,146,446
Average Number of Common Share
Equivalents 144,956 75,957 133,013 82,800
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Average Shares and Share
Equivalents Outstanding 15,093,963 15,222,654 15,125,204 15,229,246
=========== ========== =========== ===========
Net Income $10,120,000 $1,265,000 $20,168,000 $ 9,353,000
Preferred Dividends
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Available to Common Shares $10,120,000 $1,265,000 $20,168,000 $ 9,353,000
=========== ========== =========== ===========
Earnings Per Common Share: $0.67 $0.08 $1.33 $0.61
=========== ========== =========== ===========
FULLY DILUTED:
Average Number of Common Shares 14,949,007 15,146,697 14,992,191 15,146,446
Average Number of Common Share
Equivalents 186,272 75,957 186,272 82,800
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Average Shares and Share
Equivalents Outstanding 15,135,279 15,222,654 15,178,463 15,229,246
=========== ========== =========== ===========
Net Income $10,120,000 $1,265,000 $20,168,000 $ 9,353,000
Preferred Dividends
----------- ---------- ----------- -----------
Available to Common Shares $10,120,000 $1,265,000 $20,168,000 $ 9,353,000
=========== ========== =========== ===========
Earnings Per Common Share $0.67 $0.08 $1.33 $0.61
=========== ========== =========== ===========
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