EXHIBIT 11
PEOPLES BANCORP INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(dollars in thousands, except per share data) Three Months Ended Nine Months Ended
September 30, September 30,
2006 2005 2006 2005
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BASIC EARNINGS PER SHARE
EARNINGS:
Net income $5,322 $5,268 $16,789 $14,838
AVERAGE SHARES OUTSTANDING:
Weighted-average common shares outstanding 10,638,824 10,451,578 10,587,462 10,425,704
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BASIC EARNINGS PER SHARE $0.50 $0.50 $1.59 $1.42
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DILUTED EARNINGS PER SHARE
EARNINGS:
Net income $5,322 $5,268 $16,789 $14,838
AVERAGE SHARES OUTSTANDING:
Weighted-average common shares outstanding 10,638,824 10,451,578 10,587,462 10,425,704
Net effect of the assumed exercise of stock options based
on the treasury stock method 110,172 139,892 121,850 138,049
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Total weighted-average diluted common shares 10,748,996 10,591,470 10,709,312 10,563,753
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DILUTED EARNINGS PER SHARE $0.50 $0.50 $1.57 $1.40
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