EXHIBIT 11
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PEOPLES BANCORP INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
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(dollars in thousands, except share data)
For the Three Months Ended
March 31,
1998 1997
BASIC EARNINGS PER SHARE
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EARNINGS:
Net income $2,376 $2,002
AVERAGE SHARES OUTSTANDING:
Weighted average Common Shares outstanding 5,746,684 5,168,804
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BASIC EARNINGS PER SHARE $0.41 $0.39
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DILUTED EARNINGS PER SHARE
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EARNINGS:
Net income $2,376 $2,002
AVERAGE SHARES OUTSTANDING:
Weighted average Common Shares outstanding 5,746,684 5,168,804
Net effect of the assumed exercise of
stock options based on the treasury
stock method 190,460 123,763
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Total 5,937,144 5,292,567
DILUTED EARNINGS PER SHARE $0.40 $0.38
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Adjusted for 3-for-2 stock split issued April 30, 1998, to shareholders
of record as of April 13, 1998.