EXHIBIT 21 	 PEOPLES BANCORP INC. ANNUAL REPORT ON FORM 10-K 		 FOR FISCAL YEAR ENDED DECEMBER 31, 1996 Subsidiaries of Peoples Bancorp Inc. - ------------------------------------ The following are the only subsidiaries of Peoples Bancorp Inc.: 							Jurisdiction 							 of Name of Subsidiary Incorporation - ---------------------------------------------------- ------------- The Peoples Banking and Trust Company Ohio The First National Bank of Southeastern Ohio United States ("First National Bank") Northwest Territory Life Insurance Agency, Inc. Ohio (Subsidiary of First National Bank) Northwest Territory Property & Casualty Life Ohio Insurance Agency, Inc. (Subsidiary of First National Bank) The Northwest Territory Life Insurance Company Arizona Russell Federal Savings Bank United States