Exhibit 16

March 31, 1999



Securities and Exchange Commission
Washington, D.C.  20549


Ladies and Gentlemen:

We were previously principal accountants for Ogdensburg Federal
Savings and Loan Association, a wholly owned subsidiary of
Peoples Bankcorp, Inc. and, under the date of July 24, 1998, we
reported on the financial statements of Ogdensburg Federal
Savings and Loan Association as of and for the years ended
December 31, 1997 and 1996.  Effective January 1, 1999, our
appointment as principal accountants was terminated.  We have
read Ogdensburg Federal Savings and Loan Association's statements
included under Item 4 of its Form 8-K as filed with the
Securities and Exchange Commission on March 29, 1999, and we
agree with such statements.

Very truly yours,

/s/ KPMG LLP