EXHIBIT 11
PEOPLES BANCORP INC. AND SUBSIDIARIES
Computation of Earnings Per Share
(dollars in thousands, except per share data) For the Three For the Nine
Months Ended Months Ended
September 30, September 30,
2004 2003 2004 2003
BASIC EARNINGS PER SHARE
EARNINGS:
Net income $5,138 $5,940 $15,557 $16,394
AVERAGE SHARES OUTSTANDING:
Weighted average common shares outstanding 10,524,304 10,653,999 10,562,547 10,372,617
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BASIC EARNINGS PER SHARE $0.49 $0.56 $1.47 $1.58
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DILUTED EARNINGS PER SHARE
EARNINGS:
Net income $5,138 $5,940 $15,557 $16,394
AVERAGE SHARES OUTSTANDING:
Weighted average common shares outstanding 10,524,304 10,653,999 10,562,547 10,372,617
Net effect of the assumed exercise of stock options based
on the treasury stock method 145,494 242,462 185,517 213,038
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Total weighted average diluted common shares 10,669,798 10,896,461 10,748,064 10,585,655
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DILUTED EARNINGS PER SHARE $0.48 $0.55 $1.45 $1.55
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