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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1998 1997 1998 1997
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BASIC:
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Average Number of Common Shares 39,080,717 38,517,014 39,037,837 38,485,232
Net Income $ 6,822,000 $12,126,000 $20,568,000 $23,990,000
Preferred Dividends
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Available to Common Shares $ 6,822,000 $12,126,000 $20,568,000 $23,990,000
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Basic Earnings Per Common Share: $0.17 $0.31 $0.53 $0.62
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DILUTED:
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Average Number of Common Shares 39,080,717 38,517,014 39,037,837 38,485,232
Average Number of Common Share
Equivalents 724,702 560,212 694,089 642,844
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Average Shares and Share
Equivalents Outstanding 39,805,419 39,077,226 39,731,926 39,128,076
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Net Income $ 6,822,000 $12,126,000 $20,568,000 $23,990,000
Preferred Dividends
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Available to Common Shares $ 6,822,000 $12,126,000 $20,568,000 $23,990,000
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Diluted Earnings Per Common Share $0.17 $0.31 $0.52 $0.61
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