EXHIBIT 11
PEOPLES BANCORP INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(dollars in thousands, except per share data) For the Three
Months Ended
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March 31,
2006 2005
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BASIC EARNINGS PER SHARE
EARNINGS:
Net income $5,931 $4,692
AVERAGE SHARES OUTSTANDING:
Weighted-average common shares outstanding 10,530,444 10,419,189
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BASIC EARNINGS PER SHARE $0.56 $0.45
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DILUTED EARNINGS PER SHARE
EARNINGS:
Net income $5,931 $4,692
AVERAGE SHARES OUTSTANDING:
Weighted-average common shares outstanding 10,530,444 10,419,189
Net effect of the assumed exercise of stock options based
on the treasury stock method 124,789 138,814
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Total weighted-average diluted common shares 10,655,233 10,558,003
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DILUTED EARNINGS PER SHARE $0.56 $0.44
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