EXHIBIT 11
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PEOPLES BANCORP INC. AND SUBSIDIARIES
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COMPUTATION OF EARNINGS PER SHARE
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For the Three For the Six
Months Ended Months Ended
June 30, June 30,
1996 1995 1996 1995
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PRIMARY EARNINGS PER SHARE
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EARNINGS:
Net income $1,971,000 $1,534,000 $3,852,000 $3,020,000
COMMON SHARES OUTSTANDING:
Weighted average common
shares outstanding* 3,439,371 3,493,513 3,434,008 3,498,990
Add: net effect of the
assumed exercise of
outstanding stock
options - based on the
treasury stock method 31,711 12,658 31,873 12,789
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Total primary weighted
average shares
outstanding 3,471,802 3,506,171 3,465,881 3,511,779
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PRIMARY EARNINGS PER SHARE $0.57 $0.44 $1.11 $0.86
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FULLY DILUTED EARNINGS PER SHARE
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EARNINGS:
Net income $1,971,000 $1,534,000 $3,852,000 $3,020,000
COMMON SHARES OUTSTANDING:
Weighted average common
shares outstanding* 3,439,371 3,493,513 3,434,008 3,498,990
Add: net effect of the
assumed exercise of
outstanding stock
options - based on the
treasury stock method 35,007 12,658 34,989 12,789
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Total fully diluted
weighted average shares
outstanding 3,474,378 3,506,171 3,468,997 3,511,779
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FULLY DILUTED EARNINGS
PER SHARE $0.57 $0.44 $1.11 $0.86
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* Adjusted for 10% stock dividend issued to stockholders of
record at July 15, 1996, and October 10, 1995.