EXHIBIT 11
PEOPLES BANCORP INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
For the Three Months Ended
March 31,
1996 1995*
PRIMARY EARNINGS PER SHARE
EARNINGS:
Net income $1,881,000 $1,486,000
COMMON SHARES OUTSTANDING:
Weighted average common shares outstanding 3,116,961 3,185,953
Add: Net effect of the assumed exercise of
outstanding stock options - based on
the treasury stock method 29,453 11,761
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Total primary weighted average shares
outstanding 3,146,414 3,197,714
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PRIMARY EARNINGS PER SHARE $0.60 $0.46
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FULLY DILUTED EARNINGS PER SHARE
EARNINGS:
Net income $1,881,000 $1,486,000
COMMON SHARES OUTSTANDING:
Weighted average common shares outstanding 3,116,961 3,185,953
Add: Net effect of the assumed exercise of
outstanding stock options - based on
the treasury stock method 32,133 11,761
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Total fully diluted weighted average
shares outstanding 3,149,094 3,197,714
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FULLY DILUTED EARNINGS PER SHARE $0.60 $0.46
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* Adjusted for 10% stock dividend issued October 25, 1995, to
shareholders of record as of October 10, 1995.