EXHIBIT 11
PEOPLES BANCORP INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(dollars in thousands, except share data) For the Three For the Nine
Months Ended Months Ended
September 30, September 30,
2000 1999 2000 1999
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BASIC EARNINGS PER SHARE
EARNINGS:
Net income $2,882 $2,758 $8,444 $7,937
AVERAGE SHARES OUTSTANDING:
Weighted average Common Shares outstanding 6,518,187 6,763,341 6,532,434 6,872,698
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BASIC EARNINGS PER SHARE $0.44 $0.41 $1.29 $1.15
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DILUTED EARNINGS PER SHARE
EARNINGS:
Net income $2,882 $2,758 $8,444 $7,937
AVERAGE SHARES OUTSTANDING:
Weighted average Common Shares outstanding 6,518,187 6,763,341 6,532,434 6,872,698
Net effect of the assumed exercise of stock options
based on the treasury stock method 64,956 213,993 84,112 184,288
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Total 6,583,143 6,977,334 6,616,546 7,056,986
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DILUTED EARNINGS PER SHARE $0.44 $0.40 $1.28 $1.13
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* Adjusted for 10% stock dividend issued March 14, 2000 and a 10% stock dividend
issued June 15, 1999.