EXHIBIT 21 PEOPLES BANCORP INC. ANNUAL REPORT ON FORM 10-K FOR FISCAL YEAR ENDED DECEMBER 31, 1994 Subsidiaries of Peoples Bancorp Inc. The following are the only subsidiaries of Peoples Bancorp Inc.: Name of Subsidiary Jurisdiction of Incorporation ------------------ ----------------------------- The Peoples Banking and Trust Company Ohio The First National Bank of Southeastern Ohio United States The Northwest Territory Life Insurance Company Arizona