EXHIBIT 11
PEOPLES BANCORP INC. AND SUBSIDIARIES
Computation of Earnings Per Share
(dollars in thousands, except per share data) For the Three For the Six
Months Ended Months Ended
June 30, June 30,
2003 2002 2003 2002
BASIC EARNINGS PER SHARE
EARNINGS:
Net income $5,439 $4,763 $10,453 $9,456
AVERAGE SHARES OUTSTANDING:
Weighted average Common Shares outstanding 9,905,403 7,873,795 9,742,471 7,857,062
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BASIC EARNINGS PER SHARE $0.55 $0.60 $1.07 $1.20
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DILUTED EARNINGS PER SHARE
EARNINGS:
Net income $5,439 $4,763 $10,453 $9,456
AVERAGE SHARES OUTSTANDING:
Weighted average Common Shares outstanding 9,905,403 7,873,795 9,742,471 7,857,062
Net effect of the assumed exercise of stock options based
on the treasury stock method 188,711 228,252 189,167 188,547
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Total weighted average diluted common shares 10,094,114 8,102,047 9,931,638 8,045,609
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DILUTED EARNINGS PER SHARE $0.54 $0.59 $1.05 $1.18
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