PEOPLES BANCORP INC. RETIREMENT SAVINGS PLAN
MARIETTA, OHIO
FINANCIAL STATEMENTS
December 31, 1996
CONSENT OF INDEPENDENT AUDITORS
To the Plan Administrative Committee
Peoples Bancorp Inc. Retirement Savings Plan
Marietta, Ohio
We consent to incorporation by reference of our report dated
March 24, 1997 relating to the statements of net assets available
for benefits with fund information of Peoples Bancorp Inc.
Retirement Savings Plan as of December 31, 1996 and 1995 and the
related statements of changes in net assets available for benefits
with fund information for the years then ended, which appears in
Peoples Bancorp Inc.'s Form 11K for 1996.
/s/ HARMAN, THOMPSON, MALLORY & ICE, A.C.
Harman, Thompson, Mallory & Ice, A.C.
Certified Public Accountants
Parkersburg, West Virginia
April 21, 1997
PEOPLES BANCORP INC. RETIREMENT SAVINGS PLAN
MARIETTA, OHIO
FINANCIAL STATEMENTS
December 31, 1996
INDEPENDENT ACCOUNTANTS' REPORT
To the Plan Administrative Committee
Peoples Bancorp Inc. Retirement Savings Plan
Marietta, Ohio
We have audited the accompanying statement of net assets available
for benefits with fund information of Peoples Bancorp Inc.
Retirement Savings Plan as of December 31, 1996 and 1995, and the
related statement of changes in net assets available for benefits
with fund information for the years then ended. These financial
statements are the responsibility of the Plan's management. Our
responsibility is to express an opinion on these financial
statements based on our audits.
We conducted our audits in accordance with generally accepted
auditing standards. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present
fairly, in all material respects, the net assets available for benefits
with fund information of Peoples Bancorp Inc. Retirement Savings Plan
as of December 31, 1996 and 1995, and the changes in net assets
available for benefits with fund information for the years then ended
in conformity with generally accepted accounting principles.
Our audits were conducted for the purpose of forming an opinion on
the basic financial statements taken as a whole. The supplemental
information included in Schedule G - Financial Schedules (IRS Form 5500)
is presented for the purpose of additional analysis and is not a
required part of the basic financial statements but is supplementary
information required by the Department of Labor's Rules and Regulations
for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. The supplemental information has been subjected
to the auditing procedures applied in the audits of the basic financial
statements and, in our opinion, is fairly stated in all material respects
in relation to the basic financial statements taken as a whole.
Parkersburg, West Virginia
March 24, 1997
<TABLE>
PEOPLES BANCORP INC.
RETIREMENT SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
DECEMBER 31, 1996
STATEMENT I
====================
DECEMBER 31, 1996
PARTICIPANT DIRECTED
====================
<CAPTION>
PEOPLES PEOPLES PEOPLES
PEOPLES CERTIFICATES BANCORP INC. SPECIAL VANGUARD
EQUITY OF DEPOSIT COMMON STOCK STOCK ACORN 500
FUND FUND FUND FUND FUND FUND OTHER TOTAL
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Money Market Funds
Fidelity U. S. Treasury Income
Portfolio Fund $ 7,000 $ 5,700 $ 10,300 $ 4,900 $ 24,700 $ 6,400 $ 9,800 $ 68,800
Investments, at Fair Value
Peoples Certificates of Deposit 346,804 346,804
Shares of Common/Collective Trusts:
Peoples Stock Fund EB 907,985 907,985
Peoples Special Stock Fund EB 329,366 329,366
Shares of Registered Investment Companies:
Acorn Fund 247,838 247,838
Vanguard 500 Fund 292,442 292,442
Peoples Bancorp Inc. Common Stock 3,214,689 3,214,689
Participant Loans Receivable 145,955 145,955
-------- -------- ---------- -------- -------- -------- -------- ----------
TOTAL INVESTMENTS $914,985 $352,504 $3,224,989 $334,266 $272,538 $298,842 $155,755 $5,553,879
-------- -------- ---------- -------- -------- -------- -------- ----------
Cash, Non-Interest Bearing $ 95 $ 398 $ 60 $ 30 $ 42 $ 1 $ 4 $ 630
Receivables:
Employer's Contribution $ 544 $ 233 $ 1,652 $ 337 $ 376 $ 363 $ 0 $ 3,505
Participants' Contribution 2,111 779 5,815 1,313 1,676 1,759 0 13,453
Interest and Dividends 4,292 2,345 20,619 4,259 72 19 483 32,089
Interfund Transfers Pending 733 214 2,721 303 758 5,272 (10,001) 0
-------- -------- ---------- -------- -------- -------- -------- ----------
TOTAL RECEIVABLES $ 7,680 $ 3,571 $ 30,807 $ 6,212 $ 2,882 $ 7,413 $ (9,518) $ 49,047
-------- -------- ---------- -------- -------- -------- -------- ----------
TOTAL ASSETS $922,760 $356,473 $3,255,856 $340,508 $275,462 $306,256 $146,241 $5,603,556
-------- -------- ---------- -------- -------- -------- -------- ----------
LIABILITIES
Excess Contribution Payable $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 1,304 $ 1,304
-------- -------- ---------- -------- -------- -------- -------- ----------
TOTAL LIABILITIES $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 1,304 $ 1,304
-------- -------- ---------- -------- -------- -------- -------- ----------
NET ASSETS AVAILABLE FOR BENEFITS $922,760 $356,473 $3,255,856 $340,508 $275,462 $306,256 $144,937 $5,602,252
======== ======== ========== ======== ======== ======== ======== ==========
The accompanying notes are an integral part of these financial statements.
</TABLE>
<TABLE>
PEOPLES BANCORP INC.
RETIREMENT SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
DECEMBER 31, 1995
STATEMENT II
====================
DECEMBER 31, 1995
PARTICIPANT DIRECTED
====================
<CAPTION>
PEOPLES PEOPLES PEOPLES
PEOPLES CERTIFICATES BANCORP INC. SPECIAL VANGUARD
EQUITY OF DEPOSIT COMMON STOCK STOCK ACORN 500
FUND FUND FUND FUND FUND FUND OTHER TOTAL
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Money Market Funds
Fidelity U. S. Treasury Income
Portfolio Fund $ 7,400 $ 5,700 $ 9,400 $ 4,700 $ 5,100 $ 2,300 $ 4,500 $ 39,100
Investments, at Fair Value
Peoples Certificates of Deposit 342,804 342,804
Shares of Common/Collective Trusts:
Peoples Stock Fund EB 655,079 655,079
Peoples Special Stock Fund EB 212,604 212,604
Shares of Registered Investment Companies:
Acorn Fund 37,527 37,527
Vanguard 500 Fund 50,278 50,278
Peoples Bancorp Inc. Common Stock 2,705,724 2,705,724
Participant Loans Receivable 92,775 92,775
-------- -------- ---------- -------- -------- -------- -------- ----------
TOTAL INVESTMENTS $662,479 $348,504 $2,715,124 $217,304 $ 42,627 $ 52,578 $ 97,275 $4,135,891
-------- -------- ---------- -------- -------- -------- -------- ----------
Cash, Non-Interest Bearing $ 61 $ 49 $ 53 $ 3 $ 73 $ 17 $ 18,080 $ 18,336
Receivables:
Employer's Contribution $ 172 $ 32 $ 237 $ 104 $ 16 $ 18 $ 0 $ 579
Interest and Dividends 11,190 2,903 19,454 1,887 53 65 35,552
Interfund Transfers Pending 6,019 1,666 11,024 1,813 989 862 (22,373) 0
-------- -------- ---------- -------- -------- -------- -------- ----------
TOTAL RECEIVABLES $ 17,381 $ 4,601 $ 30,715 $ 3,804 $ 1,058 $ 945 $(22,373) $ 36,131
-------- -------- ---------- -------- -------- -------- -------- ----------
TOTAL ASSETS $679,921 $353,154 $2,745,892 $221,111 $ 43,758 $ 53,540 $ 92,982 $4,190,358
-------- -------- ---------- -------- -------- -------- -------- ----------
LIABILITIES
Excess Contribution Payable $ 4,090 $ 0 $ 5,968 $ 589 $ 834 $ 834 $ 0 $ 12,315
-------- -------- ---------- -------- -------- -------- -------- ----------
TOTAL LIABILITIES $ 4,090 $ 0 $ 5,968 $ 589 $ 834 $ 834 $ 0 $ 12,315
-------- -------- ---------- -------- -------- -------- -------- ----------
NET ASSETS AVAILABLE FOR BENEFITS $675,831 $353,154 $2,739,924 $220,522 $ 42,924 $ 52,706 $ 92,982 $4,178,043
======== ======== ========== ======== ======== ======== ======== ==========
The accompanying notes are an integral part of these financial statements.
</TABLE>
<TABLE>
PEOPLES BANCORP INC.
RETIREMENT SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
DECEMBER 31, 1996
STATEMENT III
====================
DECEMBER 31, 1996
PARTICIPANT DIRECTED
====================
<CAPTION>
PEOPLES PEOPLES PEOPLES
PEOPLES CERTIFICATES BANCORP INC. SPECIAL VANGUARD
EQUITY OF DEPOSIT COMMON STOCK STOCK ACORN 500
FUND FUND FUND FUND FUND FUND OTHER TOTAL
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ADDITIONS
Additions to Net Assets Attributed To:
Investment Income:
Net Appreciation (Depreciation)
in Fair Value of Investments $148,766 $ 0 $ 606,012 $ 44,369 $ (987) $ 28,529 $ 0 $ 826,689
Interest 833 20,598 926 251 420 492 13,761 37,281
Dividends 17,542 0 78,689 5,912 23,545 5,265 0 130,953
-------- -------- ---------- -------- -------- -------- -------- ----------
TOTAL INVESTMENT INCOME $167,141 $ 20,598 $ 685,627 $ 50,532 $ 22,978 $ 34,286 $ 13,761 $ 994,923
-------- -------- ---------- -------- -------- -------- -------- ----------
Contributions:
Participants' $ 67,873 $ 32,742 $ 175,230 $ 37,977 $102,268 $ 88,567 $ 0 $ 504,657
Employer's 12,693 5,426 38,210 6,572 7,898 7,875 0 78,674
-------- -------- ---------- -------- -------- -------- -------- ----------
TOTAL CONTRIBUTIONS $ 80,566 $ 38,168 $ 213,440 $ 44,549 $110,166 $ 96,442 $ 0 $ 583,331
-------- -------- ---------- -------- -------- -------- -------- ----------
TOTAL ADDITIONS $247,707 $ 58,766 $ 899,067 $ 95,081 $133,144 $130,728 $ 13,761 $1,578,254
-------- -------- ---------- -------- -------- -------- -------- ----------
DEDUCTIONS
Deductions from Net Assets Attributed To:
Benefits Paid to Participants $ 21,071 $ 21,103 $ 94,893 $ 3,466 $ 1,744 $ 7,960 $ 3,808 $ 154,045
-------- -------- ---------- -------- -------- -------- -------- ----------
TOTAL DEDUCTIONS $ 21,071 $ 21,103 $ 94,893 $ 3,466 $ 1,744 $ 7,960 $ 3,808 $ 154,045
-------- -------- ---------- -------- -------- -------- -------- ----------
Net Increase Prior to Interfund
Transfers $226,636 $ 37,663 $ 804,174 $ 91,615 $131,400 $122,768 $ 9,953 $1,424,209
Interfund Transfers 20,293 (34,344) (288,242) 28,371 101,138 130,782 42,002 0
-------- -------- ---------- -------- -------- -------- -------- ----------
NET INCREASE (DECREASE) $246,929 $ 3,319 $ 515,932 $119,986 $232,538 $253,550 $ 51,955 $1,424,209
-------- -------- ---------- -------- -------- -------- -------- ----------
NET ASSETS AVAILABLE FOR BENEFITS
Beginning of Year 675,831 353,154 2,739,924 220,522 42,924 52,706 92,982 4,178,043
-------- -------- ---------- -------- -------- -------- -------- ----------
END OF YEAR $922,760 $356,473 $3,255,856 $340,508 $275,462 $306,256 $144,937 $5,602,252
======== ======== ========== ======== ======== ======== ======== ==========
The accompanying notes are an integral part of these financial statements.
</TABLE>
<TABLE>
PEOPLES BANCORP INC.
RETIREMENT SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
DECEMBER 31, 1995
STATEMENT IV
====================
DECEMBER 31, 1995
PARTICIPANT DIRECTED
====================
<CAPTION>
PEOPLES PEOPLES PEOPLES
PEOPLES CERTIFICATES BANCORP INC. SPECIAL VANGUARD
EQUITY OF DEPOSIT COMMON STOCK STOCK ACORN 500
FUND FUND FUND FUND FUND FUND OTHER TOTAL
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ADDITIONS
Additions to Net Assets Attributed To:
Investment Income:
Net Appreciation (Depreciation)
in Fair Value of Investments $129,017 $ 0 $ 205,902 $ 23,037 $ (2,373) $ (4,110) $ 0 $ 351,473
Interest 377 22,958 949 346 161 201 7,180 32,172
Dividends 22,320 0 68,970 4,493 2,815 0 0 4,158
-------- -------- ---------- -------- -------- -------- -------- ----------
TOTAL INVESTMENT INCOME $151,714 $ 22,958 $ 275,821 $ 27,876 $ 603 $ 249 $ 7,180 $ 486,401
-------- -------- ---------- -------- -------- -------- -------- ----------
Contributions:
Participants' $ 71,800 $ 30,634 $ 203,744 $ 46,239 $ 3,939 $ 3,508 $ 0 $ 359,864
Employer's 14,086 7,499 51,523 7,993 1,044 1,022 0 83,167
-------- -------- ---------- -------- -------- -------- -------- ----------
TOTAL CONTRIBUTIONS $ 85,886 $ 38,133 $ 255,267 $ 54,232 $ 4,983 $ 4,530 $ 0 $ 443,031
-------- -------- ---------- -------- -------- -------- -------- ----------
TOTAL ADDITIONS $237,600 $ 61,091 $ 531,088 $ 82,108 $ 5,586 $ 4,779 $ 7,180 $ 929,432
-------- -------- ---------- -------- -------- -------- -------- ----------
DEDUCTIONS
Deductions from Net Assets Attributed To:
Benefits Paid to Participants $ 15,689 $ 26,106 $ 148,973 $ 3,482 $ 0 $ 0 $ 5,608 $ 199,858
-------- -------- ---------- -------- -------- -------- -------- ----------
TOTAL DEDUCTIONS $ 15,689 $ 26,106 $ 148,973 $ 3,482 $ 0 $ 0 $ 5,608 $ 199,858
-------- -------- ---------- -------- -------- -------- -------- ----------
Net Increase Prior to Interfund
Transfers $221,911 $ 34,985 $ 382,115 $ 78,626 $ 5,586 $ 4,779 $ 1,572 $ 729,574
Interfund Transfers (88,763) (36,525) (41,757) 26,952 37,338 47,927 54,828 0
-------- -------- ---------- -------- -------- -------- -------- ----------
NET INCREASE (DECREASE) $133,148 $ (1,540) $ 340,358 $105,578 $ 42,924 $ 52,706 $ 56,400 $ 729,574
-------- -------- ---------- -------- -------- -------- -------- ----------
NET ASSETS AVAILABLE FOR BENEFITS
Beginning of Year 542,683 354,694 2,399,566 114,944 0 0 36,582 3,448,469
-------- -------- ---------- -------- -------- -------- -------- ----------
END OF YEAR $675,831 $353,154 $2,739,924 $220,522 $ 42,924 $ 52,706 $ 92,982 $4,178,043
======== ======== ========== ======== ======== ======== ======== ==========
The accompanying notes are an integral part of these financial statements.
</TABLE>
PEOPLES BANCORP INC.
RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1996
NOTE 1: DESCRIPTION OF PLAN
- ----------------------------
The following brief description of Peoples Bancorp Inc.
Retirement Savings Plan (the Plan) provides only general information.
Participants should refer to the Plan agreement for a more complete
description of the Plan's provisions.
General
- -------
The Plan is a defined contribution plan covering substantially all
employees of Peoples Bancorp Inc. and its Subsidiaries (The Peoples
Banking and Trust Company and The First National Bank of Southeastern
Ohio). The Plan is a qualified trust under Sections 401(a) and 401(k)
of the Internal Revenue Code. The Plan is subject to the provisions
of ERISA. The Trustee of the Plan is The Peoples Banking and Trust
Company.
Eligibility
- -----------
Employees are eligible to participate in the Plan if they work
1,000 hours or more during the year, beginning the first calendar
quarter after employment full time or upon reaching 1,000 hours
part time. Employees may join the Plan on any calendar quarter
January 1, April 1, July 1, or October 1.
Contributions
- -------------
Participants may elect to contribute up to 15% of pretax annual
compensation and an additional 10% of after tax annual compensation.
Participants may also contribute amounts representing distributions
from other qualified plans. In addition, Peoples Bancorp Inc. or
its Subsidiaries will make a matching contribution on the employee's
behalf. The amount of this matching contribution will be determined
each year by the Employer's Board of Directors. For 1996 and 1995,
the Employer's matching was 50% of the employee's contribution, up
to a maximum of 3% of the employee's annual compensation.
Participant Accounts
- --------------------
Each participant's account is credited with the participant's
contribution and allocations of the Employer's matching contribution
and Plan earnings. Allocations are based on participants' earnings
or account balances, as defined. The benefit to which a participant
is entitled is the benefit that can be provided from the participant's
account.
Vesting
- -------
Participants are immediately fully vested in their voluntary
contributions, the Employer's matching contributions, and actual
earnings thereon.
Investment Options
- ------------------
Upon enrollment in the Plan, a participant may direct contributions
into any of six investment options.
- The Peoples Equity Fund is a common stock fund which consists of a
diversified portfolio of high-quality common stocks.
- The Peoples Certificate of Deposit Fund is a fixed income fund which
consists of investments in deposit instruments of The Peoples Banking
and Trust Company.
- The Peoples Bancorp Inc. Stock Fund consists of common shares of
Peoples Bancorp Inc. If the participant invests in common shares of the
Employer, the participant is entitled to vote proxies representing
Employer common shares equal to the number of whole common shares in the
participant's account and, when entitled to a distribution, may elect to
receive common shares instead of cash.
- The Peoples Special Stock Fund is a common stock fund which consists
of a diversified portfolio of small company common stocks and common
stock mutual funds.
- The Acorn Fund is a common stock fund managed by Wanger Asset
Management, L.P. which consists of a diversified portfolio of common
stocks of small and medium sized companies in the United States and
overseas.
- The Vanguard S&P 500 Index Fund is a common stock fund managed by
the Vanguard Group of Investment Companies which consists of a
diversified portfolio of common stocks of large companies in the United
States.
Participants may change their investment options quarterly.
Participant Loans Receivable
- ----------------------------
Participants may apply for a loan from their account under the Plan.
Certain legal restrictions impose limits on the amount of the loan and
repayment terms. The maximum loan amount is $50,000. The specific
limit for any participant is 50% of their account balance. If a
participant has an existing loan at the time of application, the $50,000
limit is reduced by the highest outstanding balance of the participant's
loan over the previous twelve-month period or the total of all outstanding
loans the day the new loan is granted. Generally, the participant's
loan must be repaid within five years, unless the proceeds are used to
purchase a principal residence.
Payment of Benefits
- -------------------
The participant's benefit will equal the sum of the salary deferral,
the voluntary nondeductible contribution, the rollover contribution, and
the Employer's matching contribution plus net income and net losses
resulting from the investment of these amounts as valued on the
valuation date as defined. Payment of such amounts upon termination
of employment may be deferred until the participant reaches normal
retirement, becomes eligible for early retirement benefits, terminates
employment prior to retirement, becomes disabled, or dies. If the
benefit is $3,500 or less, the benefit will be paid in a lump-sum
payment. If the benefit exceeds $3,500, the participant may elect to have
benefits paid in a lump-sum payment or in equal installments over a
fixed period of time not to exceed ten years.
If a participant dies without a surviving spouse, either before or
after retirement, but before a complete distribution of their accounts,
then the full value of the participant's accounts will be paid to a
designated beneficiary. If a participant dies with a surviving spouse,
either before or after retirement, but before a complete distribution
of their accounts, then the full value of the participant's accounts
will be paid to the surviving spouse.
NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
- ----------------------------------------------------
Basis of Accounting
- -------------------
The financial statements of the Plan are prepared using the accrual
method of accounting.
Estimates
- ---------
The preparation of financial statements in conformity with generally
accepted accounting principles requires the plan administrator to make
estimates and assumptions that affect certain reported amounts and
disclosures. Accordingly, actual results may differ from those estimates.
Investment Valuation and Income Recognition
- -------------------------------------------
Shares of the common/collective trusts, Peoples Stock Fund EB and
Peoples Special Stock Fund EB, are valued at the Plan's proportionate
share of net shares of the fund as of the most recent valuation date.
Shares of the registered investment companies, Acorn Fund and
Vanguard 500 Fund, are valued at quoted market prices which represent
the net asset value of shares held by the Plan at year end.
Investment in Peoples Bancorp Inc. common stock is carried at quoted
market prices.
The investment in The Peoples Banking and Trust Company certificates
of deposit and the participant loans are recorded at cost which
approximates fair market value.
Dividends and interest received from investments are recorded as
earned on an accrual basis.
The Plan presents in the Statement of Changes in Net Assets Available
for Benefits the net appreciation (depreciation) in the fair value of
its investments which consists of the realized gains or losses and the
unrealized appreciation (depreciation) on those investments.
Payment of Benefits
- -------------------
Benefits are recorded when paid.
NOTE 3: INVESTMENTS
- ---------------------
The Plan's investments are held by a bank-administered trust fund. The
following table presents the fair values of investments. Investments
that represent 5% or more of the Plan's net assets are identified with
an asterisk.
DECEMBER 31,
1996 1995
----------------------------------------------
UNITS FAIR VALUE UNITS FAIR VALUE
INVESTMENTS AT FAIR VALUE AS
DETERMINED BY QUOTED MARKET PRICE
Fidelity U.S. Treasury
Income Portfolio Fund 68,800 $ 68,800 39,100 $ 39,100
Acorn Fund 16,478.620 247,838 2,759.336 37,527
* Vanguard 500 Fund 4,228.481 292,442 872.879 50,278
* Peoples Bancorp Inc.
Common Stock 121,309 3,214,689 114,528 2,705,724
---------- ----------
$3,823,769 $2,832,629
---------- ----------
INVESTMENTS AT ESTIMATED FAIR VALUE
* Peoples Certificates of
Deposit 346,804 $ 346,804 342,804 $ 342,804
* Peoples Stock Fund EB 12,922 907,985 11,232 655,079
* Peoples Special Stock Fund EB 8,845 329,366 6,702 212,604
Participants Loans Receivable 145,955 145,955 92,775 92,775
---------- ----------
$1,730,110 $1,303,262
---------- ----------
TOTAL INVESTMENTS $5,553,879 $4,135,891
========== ==========
The Plan was issued 10,366 shares of Peoples Bancorp Inc. common stock
on October 25, 1996 for a 10% stock dividend.
During 1996, the Plan's investments (including investments bought,
sold, and held during the year) appreciated (depreciated) in value
by $826,689 as follows:
1996
APPRECIATION
(DEPRECIATION)
CHANGES IN INVESTMENTS REPORTED AT FAIR
VALUE AS DETERMINED BY QUOTED PRICE
Acorn Fund $ (987)
Vanguard 500 Fund 28,529
Peoples Bancorp Inc. Common Stock 606,012
--------
$633,554
--------
CHANGES IN INVESTMENTS REPORTED
AT ESTIMATED FAIR VALUE
Peoples Stock Fund EB $148,766
Peoples Special Fund EB 44,369
--------
$193,135
--------
NET CHANGE IN FAIR VALUE $826,689
========
NOTE 4: RELATED PARTY TRANSACTIONS
- -----------------------------------
Certain Plan investments such as certificates of deposit and shares
in the common/collective trusts are managed by The Peoples Banking and
Trust Company, a subsidiary of Peoples Bancorp Inc. The Peoples
Banking and Trust Company is also the trustee as defined by the
Plan and, therefore, these transactions qualify as party-in-interest.
NOTE 5: PAYMENT OF EXPENSES
- ----------------------------
The Corporation elected to pay all the administrative expenses and
investment costs of the Plan. Should the Corporation elect not to
pay all or part of such expenses, the Trustee then pays these
expenses from the Plan.
NOTE 6: PLAN TERMINATION
- -------------------------
Although it has not expressed any intent to do so, Peoples Bancorp Inc.
has the right under the Plan to discontinue its contributions at any time
and to terminate the Plan subject to the provisions of ERISA. In the
event of Plan termination, participants will become 100% vested in
their accounts.
NOTE 7: TAX STATUS
- -------------------
The Internal Revenue Service has determined and informed the
Corporation by letter dated July 25, 1996, stating that the Plan
constitutes a qualified trust under Sections 401(a) and 401(k) of the
Internal Revenue Code and is, therefore, exempt from Federal income
taxes under the provisions of Section 501(a). The Plan has not been
amended since receiving the determination letter. The plan
administrator and the Plan's tax counsel believe that the Plan is
designed and is currently being operated in compliance with the
applicable requirements of the Internal Revenue Code. Therefore,
no provision for income taxes has been included in the Plan's
financial statements.
SUPPLEMENTAL INFORMATION
Form 5500 - Schedule G
Department of the Treasury -- Internal Revenue Service
Department of Labor -- Pension and Welfare Benefits Administration
OMB No. 1210-0016
1996
Name of plan sponsor as shown on line 1a of Form 5500
PEOPLES BANCORP INC.
Employer identification number
31-0987416
Name of plan
PEOPLES BANCORP INC. RETIREMENT SAVINGS PLAN
Three-digit plan number
002
PART I
======
Schedule of Assets Held for Investment Purposes-See Form 5500, Item 27a.
Description of
Identity of investment including
issue, borrower, maturity date, rate of
lessor, or interest, collateral, Current
similar party par or maturity value Cost Value
- ----------------------- --------------------------- ---------- ----------
FIDELITY U.S. TREASURY MONEY MARKET FUND
INCOME PORTFOLIO FUND 39,100 SHARES $ 39,100 $ 39,100
THE PEOPLES BANKING AND CERTIFICATES OF DEPOSIT
TRUST COMPANY 6.00% DUE 02/26/97 47,500 47,500
6.85% DUE 05/05/97 20,000 20,000
6.85% DUE 06/05/97 10,000 10,000
6.85% DUE 07/18/97 15,900 15,900
5.60% DUE 06/14/98 14,804 14,804
5.35% DUE 10/19/98 1,800 1,800
5.10% DUE 11/05/98 12,000 12,000
5.10% DUE 12/10/98 19,000 19,000
5.60% DUE 12/14/98 13,000 13,000
6.03% DUE 01/04/99 28,000 28,000
6.00% DUE 03/02/99 34,700 34,700
5.05% DUE 04/19/99 10,000 10,000
6.27% DUE 05/19/99 23,000 23,000
6.10% DUE 06/29/99 26,000 26,000
6.10% DUE 07/05/99 17,000 17,000
5.60% DUE 07/27/99 15,400 15,400
6.10% DUE 08/31/99 16,700 16,700
6.10% DUE 09/14/99 22,000 22,000
PEOPLES STOCK FUND EB COMMON/COLLECTIVE TRUST
12,922 SHARES 573,939 907,985
PEOPLES SPECIAL STOCK COMMON/COLLECTIVE TRUST
FUND EB 8,845 SHARES 264,607 329,366
ACORN FUND REGISTERED INVESTMENT
COMPANY
16,478.620 SHARES 251,082 247,838
VANGUARD 500 FUND REGISTERED INVESTMENT
COMPANY
4,228.481 SHARES 264,035 292,442
PEOPLES BANCORP INC. COMMON STOCK
121,309 SHARES 1,502,547 3,214,689
LOANS TO PARTICIPANTS VARIED TERMS THROUGH 2001
VARIED INTEREST RATES
FROM 8.0% - 11.0% 0 145,955
---------- ----------
TOTAL INVESTMENTS $3,417,769 $5,553,879
========== ==========
PART II
=======
Schedule of Assets Held for Investment Purposes That Were Both Acquired
And Disposed of Within The Plan Year - See Form 5500, Items 27a.
NONE
PART III
========
Schedule of Loans or Fixed Income Obligations - See Form 5500, Item 27b
NONE
PART IV
=======
Schedule of Leases in Default or Classified as Uncollectible -
Form 5500, Item 27c.
NONE
PART V
======
Schedule of Reportable Transactions - See Form 5500, Line 27d.
<TABLE>
<CAPTION>
Description of
asset (include Expense Current Value
Identity of interest rate and incurred of asset on
party maturity in case Purchase Selling Lease with Cost of transaction Net gain
involved of a loan) price price rental transaction asset date or (loss)
- ------------- ----------------- --------- --------- ------ ----------- --------- ------------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
FIDELITY U.S. MONEY MARKET FUND
TREASURY
INCOME NUMBER OF
PORTFOLIO PURCHASES 296 1,880,800 0 1,880,800
FUND NUMBER OF
SALES 183 1,851,100 0 1,851,100 1,851,100 0
PEOPLES COMMON STOCK
BANCORP INC.
NUMBER OF
PURCHASES 7 92,254 0 92,254
NUMBER OF
SALES 7 189,303 0 104,317 189,303 84,986
ACORN FUND REGISTERED
INVESTMENT
COMPANY
NUMBER OF
PURCHASES 16 212,799 0 212,799
NUMBER OF
SALES 1 1,500 0 1,617 1,500 (117)
VANGUARD REGISTERED
INDEX INVESTMENT
TRUST 500 COMPANY
NUMBER OF
PURCHASES 15 213,635 0 213,635
</TABLE>
PART VI
=======
Schedule of Nonexempt Transactions - See Form 5500, Item 27e.
NONE
PART VII
========
Schedule of Nonexempt Transactions - See Form 5500, Item 27f.
NONE
PEOPLES BANCORP INC.
RETIREMENT SAVINGS PLAN
MARIETTA, OHIO
FINANCIAL STATEMENTS
DECEMBER 31, 1996
TABLE OF CONTENTS
STATEMENT PAGE
Independent Accountants' Report 1
Statement of Net Assets Available for Benefits
With Fund Information at December 31, 1996 I 2
Statement of Net Assets Available for Benefits
With Fund Information at December 31, 1995 II 3
Statement of Changes in Net Assets Available for
Benefits With Fund Information for the Year Ended
December 31, 1996 III 4
Statement of Changes in Net Assets Available for
Benefits With Fund Information for the Year Ended
December 31, 1995 IV 5
Notes to Financial Statements 6-11
SUPPLEMENTAL INFORMATION
Form 5500 - Schedule G 13-17
