UNITED BANCSHARES INC/OH
10-Q, 2000-05-11
NATIONAL COMMERCIAL BANKS
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EXHIBIT 11



UNITED BANCSHARES, INC. AND SUBSIDIARIES

Computation of Earnings Per Share





Three months ended
March 31,
2000 1999
BASIC EARNINGS PER SHARE
EARNINGS:
Net Income $ 529 $ 475
AVERAGE SHARES OUTSTANDING:
Weighted average common shares outstanding 2,290,435 2,267,968
BASIC EARNINGS PER SHARE $ 0.23 $ 0.21
DILUTED EARNINGS PER SHARE
EARNINGS:
Net Income $ 529 $ 475
AVERAGE SHARES OUTSTANDING:
Weighted average common shares outstanding 2,290,435 2,267,968
Net effect of the assumed exercise of stock options 119,013

-----------------

134,480

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Total 2,409,448 2,402,448
DILUTED EARNINGS PER SHARE $ 0.22 $ 0.20



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