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EXHIBIT 11
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 nine-month and three-month periods ended
September 30, 2000 and 1999.
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<CAPTION>
Nine Months Ended Three Months Ended
September 30, September 30,
---------------------------- -----------------------------
2000 1999 2000 1999
----------- ----------- ------------ ------------
<S> <C> <C> <C> <C>
Reported net income/(loss) .................... $(1,000,801) $ 2,198,928 $ (1,757,951) $ 1,026,569
Earnings/(loss) on common shares .............. $(1,000,801) $ 2,198,928 $ (1,757,951) $ 1,026,569
=========== =========== ============ ============
Weighted average common
shares outstanding - basic .................. 4,460,913 4,425,095 4,467,782 4,436,823
=========== =========== ============ ============
Earnings/(loss) per common share - basic
Income/(loss) from continuing operations .... $ (0.22) $ 0.50 $ (0.39) $ 0.23
=========== =========== ============ ============
Net income/(loss) ......................... $ (0.22) $ 0.50 $ (0.39) $ 0.23
=========== =========== ============ ============
Weighted average common
shares outstanding - diluted ................ 4,671,813 4,545,150 4,679,931 4,582,910
=========== =========== ============ ============
Earnings/(loss) per common share - diluted
Income/(loss) from continuing operations .... $ (0.21) $ 0.48 $ (0.38) $ 0.22
=========== =========== ============ ============
Net income/(loss) ......................... $ (0.21) $ 0.48 $ (0.38) $ 0.22
=========== =========== ============ ============
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