EXHIBIT 11
PEOPLES BANCORP INC. ANNUAL REPORT ON FORM 10-K
FOR FISCAL YEAR ENDED DECEMBER 31, 1996
COMPUTATION OF EARNINGS PER SHARE
Year Ended December 31,
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1996 1995 1994
PRIMARY EARNINGS PER SHARE
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EARNINGS:
Net income $7,651,000 $6,050,000 $5,748,000
AVERAGE SHARES OUTSTANDING:
Weighted average Common Shares
outstanding 3,437,997 3,481,176 3,508,941
Net effect of the assumed
exercise of stock options based
on the treasury stock method 43,002 17,779 11,396
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Total 3,480,999 3,498,955 3,520,337
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PRIMARY EARNINGS PER SHARE $2.20 $1.73 $1.63
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FULLY DILUTED EARNINGS PER SHARE
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EARNINGS:
Net income $7,651,000 $6,050,000 $5,748,000
AVERAGE SHARES OUTSTANDING:
Weighted average Common Shares
outstanding 3,437,997 3,481,176 3,508,941
Net effect of the assumed
exercise of stock options based
on the treasury stock method 68,999 37,948 14,871
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Total 3,506,996 3,519,124 3,523,812
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FULLY DILUTED EARNINGS PER SHARE $2.18 $1.72 $1.63
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