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,
2005 2004
BASIC EARNINGS PER SHARE
EARNINGS:
Net income $4,692 $5,366
AVERAGE SHARES OUTSTANDING:
Weighted average common shares outstanding 10,419,189 10,560,228
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BASIC EARNINGS PER SHARE $0.45 $0.51
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DILUTED EARNINGS PER SHARE
EARNINGS:
Net income $4,692 $5,366
AVERAGE SHARES OUTSTANDING:
Weighted average common shares outstanding 10,419,189 10,560,228
Net effect of the assumed exercise of stock options based
on the treasury stock method 138,814 247,779
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Total weighted average diluted common shares 10,558,003 10,808,007
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DILUTED EARNINGS PER SHARE $0.44 $0.50
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