-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, B147BtWVlw/4FyGHIjj2hDaF7MbZNHFPrfCSh+pNPadXp3Pzwy+nG2IXP+1VSHJn T2B8JT8tnoOkL6QebcIyzQ== 0000318300-98-000005.txt : 19980720 0000318300-98-000005.hdr.sgml : 19980720 ACCESSION NUMBER: 0000318300-98-000005 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19971231 FILED AS OF DATE: 19980714 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: PEOPLES BANCORP INC CENTRAL INDEX KEY: 0000318300 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 310987416 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: SEC FILE NUMBER: 000-16772 FILM NUMBER: 98665533 BUSINESS ADDRESS: STREET 1: 138 PUTNAM ST STREET 2: P O BOX 738 CITY: MARIETTA STATE: OH ZIP: 45750 BUSINESS PHONE: 6143733155 11-K 1 PEOPLES BANCORP INC. RETIREMENT SAVINGS PLAN FORM 11-K ========= SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED] For the fiscal year ended December 31, 1997 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the transition period from ____________ to ___________ Commission file number 33-1803 A. Full title of the plan and the address of the plan, if different from that of the issuer named below: Peoples Bancorp Inc. Retirement Savings Plan B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: Peoples Bancorp Inc. 138 Putnam Street P.O. Box 738 Marietta, OH 45750-0738 REQUIRED INFORMATION ==================== The following financial statements and schedules for the Peoples Bancorp Inc. Retirement Savings Plan is being filed herewith: Description Page No. - ---------------------------------------------------- -------- Report of Independent Auditors 5 Audited Financial Statements: Statements of Net Assets Available for Benefits With 6 Fund Information at December 31, 1997 Statements of Net Assets Available for Benefits With 7 Fund Information at December 31, 1996 Statement of Changes in Net Assets Available for 8 Benefits With Fund Information Fund Information for th Year Ended December 31, 1997 Statement of Changes in Net Assets Available for 9 Benefits With Fund Information for the Year Ended December 31, 1996 Notes to Financial Statements 10-15 SUPPLEMENTAL INFORMATION - ------------------------ Form 5500 - Schedule G 16-19 Exhibit Index 20 Consent of Independent Auditors 21 The following exhibit is being filed herewith: Exhibit No. Description Page No. - ----------- -------------------------------------- -------- 1 Consent of: Harman, Thompson, Mallory, & Ice, A.C. 21 Independent Auditors SIGNATURES ========== The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. PEOPLES BANCORP INC. RETIREMENT SAVINGS PLAN Date: July 9, 1998 By: /s/ ROBERT E. EVANS Robert E. Evans President and ChiefExecutive Officer PEOPLES BANCORP INC. RETIREMENT SAVINGS PLAN DECEMBER 31, 1997 TABLE OF CONTENTS ================= STATEMENT PAGE NO. Independent Auditors' Report 5 Statement of Net Assets Available for Benefits With Fund Information at December 31, 1997 I 6 Statement of Net Assets Available for Benefits With Fund Information at December 31, 1996 II 7 Statement of Changes in Net Assets Available for Benefits With Fund Information for the Year Ended December 31, 1997 III 8 Statement of Changes in Net Assets Available for Benefits With Fund Information for the Year Ended December 31, 1996 IV 9 Notes to Financial Statements 10-15 SUPPLEMENTAL INFORMATION ======================== Form 5500 - Schedule G 16-19 Exhibit Index 20 Consent of Independent Auditors 21 INDEPENDENT AUDITORS' REPORT ============================ To the Plan Administrative Committee Peoples Bancorp Inc. Retirement Savings Plan Marietta, Ohio We have audited the accompanying statements of net assets available for benefits with fund information of Peoples Bancorp Inc. Retirement Savings Plan as of December 31, 1997 and 1996, and the related statements 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, 1997 and 1996, 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. /s/ HARMAN, THOMPSON, MALLORY & ICE, A.C. Harman, Thompson, Mallory & Ice, A.C. Independent Auditors Parkersburg, West Virginia March 30, 1998 PEOPLES BANCORP INC. RETIREMENT SAVINGS PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION ==================================================================== DECEMBER 31, 1997 STATEMENT I ==================== DECEMBER 31, 1997 PARTICIPANT DIRECTED ====================
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 ASSETS Money Market Funds Fidelity U. S. Treasury Income Portfolio Fund $ 6,200 $ 3,300 $ 10,900 $ 5,900 $ 32,400 $ 8,000 $ 1,600 $ 68,300 Investments, at Fair Value Peoples Certificates of Deposit 396,604 396,604 Shares of Common/Collective Trusts: Peoples Stock Fund EB 1,288,466 1,288,466 Peoples Special Stock Fund EB 416,480 416,480 Shares of Registered Investment Companies: Acorn Fund 334,943 334,943 Vanguard 500 Fund 459,462 459,462 Peoples Bancorp Inc. Common Stock 5,420,027 5,420,027 Participant Loans Receivable 143,618 143,618 ---------- -------- ---------- -------- -------- -------- -------- ---------- TOTAL INVESTMENTS $1,294,666 $399,904 $5,430,927 $422,380 $367,343 $467,462 $145,218 $8,527,900 ---------- -------- ---------- -------- -------- -------- -------- ---------- Cash, Non-Interest Bearing $ 48 $ 487 $ 92 $ 95 $ 23 $ 83 $ 46 $ 874 ---------- -------- ---------- -------- -------- -------- -------- ---------- Receivables: Employer's Contribution $ 414 $ 186 $ 1,811 $ 288 $ 380 $ 399 $ 0 $ 3,478 Participants' Contribution 1,924 692 7,525 1,564 1,887 1,904 0 15,496 Interest and Dividends 4,988 3,082 24,667 3,065 46 13 533 36,394 Interfund Transfers Pending 305 72 1,154 116 222 189 (2,058) 0 ---------- -------- ---------- -------- -------- -------- -------- ---------- TOTAL RECEIVABLES $ 7,631 $ 4,032 $ 35,157 $ 5,033 $ 2,535 $ 2,505 $ (1,525) $ 55,368 ---------- -------- ---------- -------- -------- -------- -------- ---------- TOTAL ASSETS $1,302,345 $404,423 $5,466,176 $427,508 $369,901 $470,050 $143,739 $8,584,142 ---------- -------- ---------- -------- -------- -------- -------- ---------- LIABILITIES Excess Contribution Payable $ 1,666 $ 144 $ 10,502 $ 271 $ 176 $ 143 $ 1,304 $ 14,206 ---------- -------- ---------- -------- -------- -------- -------- ---------- TOTAL LIABILITIES $ 1,666 $ 144 $ 10,502 $ 271 $ 176 $ 143 $ 1,304 $ 14,206 ---------- -------- ---------- -------- -------- -------- -------- ---------- NET ASSETS AVAILABLE FOR BENEFITS $1,300,679 $404,279 $5,455,674 $427,237 $369,725 $469,907 $142,435 $8,569,936 ========== ======== ========== ======== ======== ======== ======== ========== The accompanying notes are an integral part of these financial statements.
PEOPLES BANCORP INC. RETIREMENT SAVINGS PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION ==================================================================== DECEMBER 31, 1996 STATEMENT II ==================== DECEMBER 31, 1996 PARTICIPANT DIRECTED ====================
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 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 $ $ 3,505 Participants' Contribution 2,111 779 5,815 1,313 1,676 1,759 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 $ $ $ $ $ $ $ 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.
PEOPLES BANCORP INC. RETIREMENT SAVINGS PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION =============================================================================== DECEMBER 31, 1997 STATEMENT III ==================== DECEMBER 31, 1997 PARTICIPANT DIRECTED ====================
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 ADDITIONS Additions to Net Assets Attributed To: Investment Income: Net Appreciation (Depreciation) in Fair Value of Investments $317,016 $ $1,886,677 $ 46,760 $ 37,584 $ 97,549 $ $2,385,586 Interest 457 21,608 873 251 196 122 14,990 38,497 Dividends 21,250 90,593 7,175 34,544 9,433 162,995 -------- -------- ---------- -------- -------- -------- -------- ---------- TOTAL INVESTMENT INCOME $338,723 $ 21,608 $1,978,143 $ 54,186 $ 72,324 $107,104 $ 14,990 $2,587,078 -------- -------- ---------- -------- -------- -------- -------- ---------- Contributions: Participants' $ 52,454 $ 18,513 $ 177,869 $ 40,322 $ 56,163 $ 55,801 $ $ 401,122 Employer's 11,144 4,988 43,778 7,591 10,498 10,364 88,363 -------- -------- ---------- -------- -------- -------- -------- ---------- TOTAL CONTRIBUTIONS $ 63,598 $ 23,501 $ 221,647 $ 47,913 $ 66,661 $ 66,165 $ 0 $ 489,485 -------- -------- ---------- -------- -------- -------- -------- ---------- TOTAL ADDITIONS $402,321 $ 45,109 $2,199,790 $102,099 $138,895 $173,269 $ 14,990 $3,076,563 -------- -------- ---------- -------- -------- -------- -------- ---------- DEDUCTIONS Deductions from Net Assets Attributed To: Benefits Paid to Participants $ 12,364 $ 1,944 $ 44,713 $ 6,894 $ 20,559 $ 22,405 $ $ 108,879 -------- -------- ---------- -------- -------- -------- -------- ---------- TOTAL DEDUCTIONS $ 12,364 $ 1,944 $ 44,713 $ 6,894 $ 20,559 $ 22,405 $ 0 $ 108,879 -------- -------- ---------- -------- -------- -------- -------- ---------- Net Increase Prior to Interfund Transfers $389,957 $ 43,165 $2,155,077 $ 95,205 $118,426 $150,864 $ 14,990 $2,967,684 Interfund Transfers (12,038) 4,641 44,741 (8,476) (24,163) 12,787 (17,492) 0 -------- -------- ---------- -------- -------- -------- -------- ---------- NET INCREASE (DECREASE) $377,919 $ 47,806 $2,199,818 $ 86,729 $ 94,263 $163,651 $ (2,502) $2,967,684 NET ASSETS AVAILABLE FOR BENEFITS Beginning of Year 922,760 356,473 3,255,856 340,508 275,462 306,256 144,937 5,602,252 -------- -------- ---------- -------- -------- -------- -------- ---------- END OF YEAR $1,300,679 $404,279 $5,455,674 $427,237 $369,725 $469,907 $142,435 $8,569,936 ========= ======== ========== ======== ======== ======== ======== ========== The accompanying notes are an integral part of these financial statements.
PEOPLES BANCORP INC. RETIREMENT SAVINGS PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION =============================================================================== DECEMBER 31, 1996 STATEMENT IV ==================== DECEMBER 31, 1996 PARTICIPANT DIRECTED ====================
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 ADDITIONS Additions to Net Assets Attributed To: Investment Income: Net Appreciation (Depreciation) in Fair Value of Investments $148,766 $ $ 606,012 $ 44,369 $ (987) $ 28,529 $ $ 826,689 Interest 833 20,598 926 251 420 492 13,761 37,281 Dividends 17,542 78,689 5,912 23,545 5,265 130,953 -------- -------- ---------- -------- -------- -------- -------- ---------- 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 $ $ 504,657 Employer's 12,693 5,426 38,210 6,572 7,898 7,875 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.
PEOPLES BANCORP INC. RETIREMENT SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS ============================= 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, The First National Bank of Southeastern Ohio, and The Russell Federal Savings Bank). 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 directly rollover 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 1997 and 1996, 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 minimum loan amount is $1,000 and 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. Investment Valuation and Income Recognition (Continued) - -------------------------------------------------------- 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, 1997 1996 ---------------------------------------------- UNITS FAIR VALUE UNITS FAIR VALUE INVESTMENTS AT FAIR VALUE AS DETERMINED BY QUOTED MARKET PRICE Fidelity U.S. Treasury Income Portfolio Fund 68,300 $ 68,300 68,800 $ 68,800 * Acorn Fund 19,714.141 334,943 16,478.620 247,838 * Vanguard 500 Fund 5,101.162 459,462 4,228.481 292,442 * Peoples Bancorp Inc. Common Stock 129,821 5,420,027 121,309 3,214,689 ---------- ---------- $6,282,732 $3,823,769 INVESTMENTS AT ESTIMATED FAIR VALUE * Peoples Certificates of Deposit 396,604 $396,604 346,804 $346,804 * Peoples Stock Fund EB 13,779 1,288,466 12,922 907,985 * Peoples Special Stock Fund EB 9,904 416,480 8,845 329,366 Participants Loans Receivable 143,618 143,618 145,955 145,955 ---------- ---------- $2,245,168 $1,730,110 ---------- ---------- TOTAL INVESTMENTS $8,527,900 $5,553,879 ========== ========== The Plan was issued 11,101 shares of Peoples Bancorp Inc. common stock on July 1, 1996 for a 10% stock dividend. During 1997, the Plan's investments (including investments bought, sold, and held during the year) appreciated (depreciated) in value by $2,385,586 as follows: 1997 APPRECIATION (DEPRECIATION) CHANGES IN INVESTMENTS REPORTED AT FAIR VALUE AS DETERMINED BY QUOTED PRICE Acorn Fund $ 37,584 Vanguard 500 Fund 97,548 Peoples Bancorp Inc. Common Stock 1,886,677 ---------- $2,021,809 ---------- CHANGES IN INVESTMENTS REPORTED AT ESTIMATED FAIR VALUE Peoples Stock Fund EB $ 317,017 Peoples Special Fund EB 46,760 --------- $ 363,777 --------- NET CHANGE IN FAIR VALUE $2,385,586 ========== 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 1997 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 68,300 SHARES $ 68,300 $ 68,300 THE PEOPLES BANKING AND CERTIFICATES OF DEPOSIT TRUST COMPANY 5.00% DUE 02/28/98 53,000 53,000 6.03% DUE 04/11/98 36,000 36,000 5.60% DUE 06/14/98 14,804 14,804 4.95% DUE 08/20/98 32,000 32,000 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 03/12/99 34,700 34,700 5.05% DUE 04/19/99 10,000 10,000 5.10% DUE 05/07/99 24,000 24,000 6.10% 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 13,799 SHARES 652,756 1,288,466 PEOPLES SPECIAL STOCK COMMON/COLLECTIVE TRUST FUND EB 9,904 SHARES 310,616 416,480 ACORN FUND REGISTERED INVESTMENT COMPANY 19,714.141 SHARES 306,170 334,943 VANGUARD 500 FUND REGISTERED INVESTMENT COMPANY 5,101.162 SHARES 336,771 459,462 PEOPLES BANCORP INC. COMMON STOCK 129,821 SHARES 1,830,904 5,420,027 LOANS TO PARTICIPANTS VARIED TERMS THROUGH 2002 VARIED INTEREST RATES FROM 8.0% - 11.0% 0 143,618 ---------- ---------- TOTAL INVESTMENTS $3,902,121 $8,459,600 ========== ========== 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.
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) - ------------- ----------------- --------- --------- ------ ----------- --------- ------------- --------- FIDELITY U.S. MONEY MARKET FUND TREASURY INCOME NUMBER OF PORTFOLIO PURCHASES 278 1,526,200 0 1,526,200 FUND NUMBER OF SALES 167 1,526,700 0 1,526,700 1,526,700 0 PEOPLES COMMON STOCK BANCORP INC. NUMBER OF PURCHASES 20 360,810 0 360,810 NUMBER OF SALES 4 42,149 0 32,452 42,149 9,697
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 ANNUAL REPORT ON FORM 11-K FOR FISCAL YEAR ENDED DECEMBER 31, 1997 INDEX TO EXHIBITS Exhibit No. Description Page No. 1 Consent of Harman, Mallory, 21 & Ice, A.C. Independent Auditors 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 30, 1998 relating to the statements of net assets available for benefits with fund information of Peoples Bancorp Inc. Retirement Savings as of December 31, 1997 and 1996, 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 1997. /s/ HARMAN, THOMPSON, MALLORY & ICE, A.C. Harman, Thompson, Mallory & Ice, A.C. Independent Auditors Parkersburg, West Virginia July 8, 1998 -----END PRIVACY-ENHANCED MESSAGE-----