EXHIBIT 12        
                              ----------

             PEOPLES BANCORP INC. ANNUAL REPORT ON FORM 10-K
                FOR FISCAL YEAR ENDED DECEMBER 31, 1998

                         COMPUTATION OF RATIOS
                         ---------------------

		
CASH DIVIDENDS PER SHARE                Cash dividends paid/common shares
                                          outstanding at date of declaration
		
BOOK VALUE PER SHARE                    Total stockholders' equity/common
                                          shares outstanding at year-end
		
RETURN ON AVERAGE ASSETS                Net income/average assets
		
RETURN ON AVERAGE STOCKHOLDERS'
EQUITY                                  Net income/average stockholders'
                                          equity
		
NET INTEREST MARGIN                     Fully-tax equivalent net interest
                                          income/average earning assets
		
NON-INTEREST EXPENSE TO AVERAGE         Non-interest expense/average assets
ASSETS                                  
		
EFFICIENCY RATIO                        (Non-interest expenses less
                                          intangible non-recurring,
                                          non-operational items)/(fully-tax
                                          equivalent net interest income plus
                                          non-interest income)
		
AVERAGE LOANS TO AVERAGE DEPOSITS       Average gross loans/average deposits
		
DIVIDEND PAYOUT RATIO                   Dividends declared/Net income
		
AVERAGE STOCKHOLDERS' EQUITY TO         Average stockholders' equity/average
AVERAGE ASSETS                            assets
		
PRIMARY CAPITAL TO PERIOD END TOTAL     (Stockholders' equity plus allowance
ASSETS                                    for loan losses less intangible
                                          assets/(Period end total assets plus
                                          allowance for loan losses less
                                          intangible assets)
		
TIER 1 CAPITAL RATIO                    Stockholders' equity less intangible
                                          assets less securities mark-to-
                                          market capital reserve ("Tier 1
                                          Capital")/Risk adjusted assets
		
TOTAL CAPITAL RATIO                     Tier 1 capital plus allowance for
                                          loan losses/Risk adjusted assets
		
TIER 1 LEVERAGE RATIO                   Tier 1 capital/Qyarterly average
                                          assets
		
NET CHARGE-OFFS TO AVERAGE LOANS        (Gross chargeoffs less recoveries)/
                                          Average net loans
		
NONPERFORMING LOANS AS A PERCENTAGE     (Nonaccrual loans plus loans past due
OF PERIOD END LOANS                       90 days or greater plus other real
                                          estate owned)/Gross loans net of
                                          unearned interest
		
ALLOWANCE FOR LOAN LOSSES TO PERIOD     Allowance for loan losses/Gross loans
END TOTAL LOANS                           net of unearned interest