EXHIBIT 11
PEOPLES BANCORP INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(dollars in thousands, except per share data) Three Months Ended Six Months Ended
June 30, June 30,
2006 2005 2006 2005
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BASIC EARNINGS PER SHARE
EARNINGS:
Net income $5,536 $4,878 $11,467 $9,570
AVERAGE SHARES OUTSTANDING:
Weighted-average common shares outstanding 10,591,926 10,405,989 10,561,355 10,412,552
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BASIC EARNINGS PER SHARE $0.52 $0.47 $1.09 $0.92
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DILUTED EARNINGS PER SHARE
EARNINGS:
Net income $5,536 $4,878 $11,467 $9,570
AVERAGE SHARES OUTSTANDING:
Weighted-average common shares outstanding 10,591,926 10,405,989 10,561,355 10,412,552
Net effect of the assumed exercise of stock options based
on the treasury stock method 122,104 135,785 128,110 137,316
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Total weighted-average diluted common shares 10,714,030 10,541,774 10,689,465 10,549,868
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DILUTED EARNINGS PER SHARE $0.52 $0.46 $1.07 $0.91
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