EXHIBIT 11
PEOPLES BANCORP INC. AND SUBSIDIARIES
Computation of Earnings Per Share
(dollars in thousands, except per share data) For the Three
Months Ended
March 31,
2004 2003
BASIC EARNINGS PER SHARE EARNINGS:
Net income $5,366 $5,014
AVERAGE SHARES OUTSTANDING:
Weighted average Common Shares outstanding 10,560,241 10,056,615
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BASIC EARNINGS PER SHARE $0.51 $0.50
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DILUTED EARNINGS PER SHARE
EARNINGS:
Net income $5,366 $5,014
AVERAGE SHARES OUTSTANDING:
Weighted average Common Shares outstanding 10,560,241 10,056,615
Net effect of the assumed exercise of stock options
based on the treasury stock method 247,766 199,090
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Total weighted average diluted common shares 10,808,007 10,255,705
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DILUTED EARNINGS PER SHARE $0.50 $0.49
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