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EXHIBIT 11 -- STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES
The following tabulation presents the calculation of primary and fully diluted
earnings per common share for the three-month periods ended March 31, 2000 and
1999:
<TABLE>
<CAPTION>
Six Months Ended Three Months Ended
June 30, June 30,
--------------------------- ----------------------------
2000 1999 2000 1999
----------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
Reported net income............................. $ 757,150 $ 1,172,359 $ 303,213 $ 585,905
Earnings on common shares....................... $ 757,150 $ 1,172,359 $ 303,213 $ 585,905
=========== =========== =========== ===========
Weighted average common
shares outstanding - basic................ 4,458,164 4,412,102 4,461,265 4,427,482
=========== =========== =========== ===========
Earnings per common share - basic
Income from continuing operations........... $ 0.17 $ 0.27 $ 0.07 $ 0.13
=========== =========== =========== ===========
Net income.................................. $ 0.17 $ 0.27 $ 0.07 $ 0.13
=========== =========== =========== ===========
Weighted average common
shares outstanding - diluted.............. 4,664,451 4,527,602 4,669,014 4,574,820
=========== =========== =========== ===========
Earnings per common share - diluted
Income from continuing operations........... $ 0.16 $ 0.26 $ 0.06 $ 0.13
=========== =========== =========== ===========
Net income $ 0.16 $ 0.26 $ 0.06 $ 0.13
=========== =========== =========== ===========
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