EXHIBIT 21

PEOPLES BANCORP INC. ANNUAL REPORT ON FORM 10-K

FOR FISCAL YEAR ENDED DECEMBER 31, 2017

Subsidiaries of Peoples Bancorp Inc.
	The following are the only subsidiaries of Peoples Bancorp Inc.:
Name of Subsidiary		Jurisdiction of Incorporation or Organization
Peoples Bank		Ohio
	Peoples Insurance Agency, LLC (also does business as “Peoples Insurance”)	Ohio
	Peoples Tax Credit Equity, LLC	Ohio
Peoples Investment Company		Ohio
NB&T Statutory Trust III		Delaware