EXHIBIT 11 PEOPLES BANCORP INC. AND SUBSIDIARIES Computation of Earnings Per Share (dollars in thousands, except share data) For the Three Months Ended March 31, 2000 1999 BASIC EARNINGS PER SHARE EARNINGS: Net income $2,862 $2,630 AVERAGE SHARES OUTSTANDING: Weighted average Common Shares outstanding 6,602,504 6,979,409 - ------------------------------------------------------------------------------ BASIC EARNINGS PER SHARE $0.43 $0.38 ============================================================================== DILUTED EARNINGS PER SHARE EARNINGS: Net income $2,862 $2,630 AVERAGE SHARES OUTSTANDING: Weighted average Common Shares outstanding 6,602,504 6,979,409 Net effect of the assumed exercise of stock options based on the treasury stock method 103,022 161,540 - ------------------------------------------------------------------------------ Total 6,705,526 7,140,949 DILUTED EARNINGS PER SHARE $0.43 $0.37 ============================================================================== Adjusted for 10% stock split issued March 14, 2000, to shareholders of record as of February 22, 2000. Adjusted for 10% stock split issued June 15, 2000, to shareholders of record as of May 28, 1999.