EXHIBIT 11
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PEOPLES BANCORP INC. ANNUAL REPORT ON FORM 10-K
FOR FISCAL YEAR ENDED DECEMBER 31, 1997
COMPUTATION OF EARNINGS PER SHARE
Year Ended December 31,
1997 1996 1995
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BASIC EARNINGS PER SHARE
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EARNINGS:
Net income $8,605,000 $7,651,000 $6,050,000
AVERAGE SHARES OUTSTANDING:
Weighted average Common Shares
outstanding 3,473,158 3,437,790 3,481,176
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BASIC EARNINGS PER SHARE $2.48 $2.23 $1.74
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DILUTED EARNINGS PER SHARE
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EARNINGS:
Net income $8,605,000 $7,651,000 $6,050,000
AVERAGE SHARES OUTSTANDING:
Weighted average Common Shares
outstanding 3,473,158 3,437,790 3,481,176
Net effect of the assumed
exercise of stock options based
on the treasury stock method 110,188 43,002 17,779
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Total 3,583,346 3,480,792 3,498,955
DILUTED EARNINGS PER SHARE $2.40 $2.20 $1.73
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