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 For the Six
Months Ended Months Ended
June 30, June 30,
1998 1997 1998 1997
BASIC EARNINGS PER SHARE
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EARNINGS:
Net income $2,800 $2,125 $5,176 $4,127
AVERAGE SHARES OUTSTANDING:
Weighted average Common
Shares outstanding 5,754,541 5,174,951 5,750,750 5,171,895
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BASIC EARNINGS PER SHARE $0.49 $0.41 $0.90 $0.80
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DILUTED EARNINGS PER SHARE
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EARNINGS:
Net income $2,800 $2,125 $5,176 $4,127
AVERAGE SHARES OUTSTANDING:
Weighted average Common
Shares outstanding 5,754,541 5,174,951 5,750,750 5,171,895
Net effect of the assumed
exercise of stock options
based on the treasury
stock method 202,733 154,881 196,609 139,322
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Total 5,957,274 5,329,832 5,947,359 5,311,217
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DILUTED EARNINGS PER SHARE $0.47 $0.40 $0.87 $0.78
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* Adjusted for 3-for-2 stock split issued April 30, 1998, to
shareholders of record as of April 13, 1998.