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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1997 1996 1997 1996
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PRIMARY:
Average Number of Common Shares 14,952,988 15,151,330 14,978,980 15,148,092
Average Number of Common Share
Equivalents 194,573 78,167 155,024 79,870
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Average Shares and Share
Equivalents Outstanding 15,147,561 15,229,497 15,134,004 15,227,962
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Net Income $10,345,000 $11,223,000 $30,513,000 $20,576,000
Preferred Dividends
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Available to Common Shares $10,345,000 $11,223,000 $30,513,000 $20,576,000
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Earnings Per Common Share: $0.68 $0.74 $2.01 $1.35
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FULLY DILUTED:
Average Number of Common Shares 14,952,988 15,151,330 14,978,980 15,148,092
Average Number of Common Share
Equivalents 199,624 86,788 199,624 86,788
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Average Shares and Share
Equivalents Outstanding 15,152,612 15,238,118 15,178,604 15,234,880
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Net Income $10,345,000 $11,223,000 $30,513,000 $20,576,000
Preferred Dividends
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Available to Common Shares $10,345,000 $11,223,000 $30,513,000 $20,576,000
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Earnings Per Common Share $0.68 $0.74 $2.01 $1.35
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