EXHIBIT 10(f)

                PEOPLES BANCORP INC. ANNUAL REPORT ON FORM 10-K
                    FOR FISCAL YEAR ENDED DECEMBER 31, 1996


    SUMMARY OF PERFORMANCE COMPENSATION PROGRAM OF PEOPLES BANCORP INC.


  In late 1996, Peoples Bancorp Inc. (the "Company") established a
new Performance Compensation Program ("Program") in which all
employees of the Company and its subsidiaries are eligible to
participate.  This Program replaced the Company's Incentive
Bonus Plan established in 1988 for certain senior officers of
the Company and its subsidiaries.  The Company's Executive
Committee and Board of Directors approved the Program in late
1996 for implementation and use in the 1997 calendar year.

  The Program is designed to reward all employees for balanced
growth and increased profitability.  The amount of the award
available for distribution is based upon the Company's
performance with regard to specified performance goals.  In
1997, the majority of potential incentive payout is based on the
performance of the Company's consolidated financial results. 
The remaining incentive payout for employees is based on the
results of performance goals in certain subordinate models (such
as subsidiary or branch models).  This payout percentage may be
adjusted on an annual basis.

  In 1997, the performance goals focus on loan and deposit growth,
profitability, asset quality, and productivity (increased
operational efficiency).  The Program compares current year
performance to prior year and rewards employees for incremental
growth in the key performance goals previously listed.  Each
performance goal is weighted according to contribution to net
income.  In general, the key performance goals are evenly
weighted for 1997.  The Program also establishes a range of
payout percentages which reflect the extent to which the Company
has met the performance goals.  The payout percentage is
uniformly applied to the gross salaries of each eligible
employee.  Consequently, enhanced performance in relation to the
performance goals creates higher incentive bonuses.