EXHIBIT 11
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PEOPLES BANCORP INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(dollars in thousands, except share data)
For the Three For the Nine
Months Ended Months Ended
September 30, 1998 September 30, 1998
1997 1998 1997 1998
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BASIC EARNINGS PER SHARE
EARNINGS:
Income before
extraordinary charge $2,328 $2,158 $7,504 $6,285
Net income $2,096 $2,158 $7,272 $6,285
AVERAGE SHARES OUTSTANDING:
Weighted average Common
Shares outstanding 5,828,842 5,180,915 5,767,048 5,174,934
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BASIC EARNINGS PER SHARE:
INCOME BEFORE
EXTRAORDIANRY CHARGE $0.40 $0.42 $1.30 $1.21
NET INCOME $0.36 $0.42 $1.26 $1.21
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DILUTED EARNINGS PER SHARE
EARNINGS:
Income before extraordinary
charge $2,328 $2,158 $7,504 $6,285
Net income $2,096 $2,158 $7,272 $6,285
AVERAGE SHARES OUTSTANDING:
Weighted average Common
Shares outstanding 5,828,842 5,180,915 5,767,048 5,174,934
Net effect of the assumed
exercise of stock options
based on the treasury
stock method 162,096 180,485 183,995 153,043
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Total 5,990,938 5,361,400 5,951,043 5,327,977
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DILUTED EARNINGS PER SHARE:
INCOME BEFORE EXTRAORDINARY
CHARGE $0.39 $0.40 $1.26 $1.18
NET INCOME $0.35 $0.40 $1.22 $1.18
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* Adjusted for 3-for-2 stock split issued April 30, 1998, to
shareholders of record as of April 13, 1998.