SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT

                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934



Date of Report (Date of earliest event reported                 January 27, 2004



                                 PEOPLES BANCORP
--------------------------------------------------------------------------------
             (Exact name of Registrant as Specified in its Charter)



        Indiana                       000-18991                  35-1811284
--------------------------------------------------------------------------------
(State or Other Jurisdiction        (Commission                (IRS Employer
     of Incorporation)               File Number)            Identification No.)


212 West 7th Street, Auburn, Indiana                                     46706
--------------------------------------------------------------------------------
(Address of Principal Executive Offices)                              (Zip Code)


Registrant's telephone number, including area code:               (260) 925-2500
                                                                  --------------



                                 Not Applicable
          (Former Name or Former Address, if Changed Since Last Report)




                                       1
<PAGE>


                                 PEOPLES BANCORP
                                AND SUBSIDIARIES



ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

(a) Not applicable

(b) Not applicable

(c) The following exhibit is filed herewith:

              Exhibit 99            Press Release dated January 27, 2004


ITEM 9.  REGULATION D DISCLOSURE

     On January 27, 2004,  Peoples Bancorp issued a press release announcing its
Unaudited  financial  results for the quarter ended December 31, 2003. A copy of
the press  release is attached to this Report as an exhibit and is  incorporated
herein by reference.  The attached  exhibit is furnished  pursuant to Item 12 of
Form 8-K.




                                       2
<PAGE>


                                 PEOPLES BANCORP
                                AND SUBSIDIARIES

                                   SIGNATURES


     Under  the  requirements  of  the  Securities  Exchange  Act of  1934,  the

Registrant  has duly  caused  this  Report  to be  signed  on its  behalf by the

undersigned thereunto duly authorized.



Date:    January 28, 2004                             /s/Maurice F. Winkler, III
                                                      Maurice F. Winkler, III
                                                      Chief Executive Officer




                                       3
<PAGE>
                                                                      Exhibit 99


                                          Date:          January 27, 2004
For Immediate Release                     NASDAQ Symbol: PFDC
                                          Contact:       Maurice F. Winkler, III
                                          Phone:         260-925-2500



Peoples Bancorp Releases Earnings

Peoples  Bancorp  reported net income for the first quarter  ended  December 31,
2003,  of  $1,276,439  verses the same quarter  last year income of  $1,501,293.
First Quarter earnings per share was $0.37 per share compared to $0.43 per share
for the same period one year ago. Net income  decreased 15% from the same period
one year ago while earnings per share decreased 14%.

Maurice F. Winkler president stated, "Peoples Bancorp posted an annualized 1.02%
return on assets and a 8.01% return on equity during the first quarter. Earnings
were impacted from lower net interest income and lower gains on sale of loans."

Peoples  reported  assets on December 31,  2003,  of  $501,234,415  and loans of
$361,876,768.  Peoples had 3,395,038 shares of stock  outstanding as of December
31, 2003,  and the price of Peoples  Bancorp  stock as of January 26, 2004,  was
$26.60 per share as listed on the NASDAQ  National  Marketing  System  under the
symbol PFDC. On December 31, 2003,  stockholders  equity was $63,929,555  with a
capital to assets ratio of 12.75% and a book value of $18.83.

Maurice F. Winkler III,  President of Peoples  Bancorp,  indicated  "We are very
pleased  with the current  performance  of both our banks and the company in the
current interest rate environment. Fiscal 2004 is off to a good start".

Peoples Bancorp,  through its Indiana subsidiary,  Peoples Federal Savings Bank,
operates nine full service offices located in Auburn, Avilla, LaGrange, Garrett,
Kendallville,  Topeka,  Waterloo,  and two in Columbia  City,  Indiana.  Peoples
Bancorp's  Michigan  subsidiary,  First Savings Bank,  operates six full service
offices  located  in Three  Rivers  (two  offices),  Schoolcraft,  and  Union in
Michigan, and Howe and Middlebury in Indiana.



                                       4
<PAGE>









            SELECTED CONSOLIDATED FINANCIAL DATA OF PEOPLES BANCORP

                                  December 31  September 30, December 31
                                      2003         2002          2002
                                 ------------  ------------  ------------
Balance Sheet Data:
   Total assets                  $501,234,415  $502,920,006  $505,713,660
   Loans receivable, net          361,876,768   356,953,361   377,749,742
   Investments and other
      interest earning assets     111,569,971   117,585,991    98,829,406
   Deposits                       378,173,509   380,115,884   378,713,264
   Stockholders' equity            63,929,555    63,924,854    61,855,255
   Non-performing loans and REO     4,502,000     3,983,000     2,460,000
   Equity to assets ratio               12.75%        12.71%        12.23%
   Book value per share                $18.83        $18.68        $17.95

                                                    Three Months Ended
                                                      December 31
Operating Data:                                    2003          2002
                                                ----------    ----------
   Interest income                              $6,844,042    $8,033,234
   Interest expense                              2,656,575     3,423,588
                                                ----------    ----------
   Net interest income                           4,187,467     4,609,646
   Provision
      for losses on loans                           41,196       206,485
                                                ----------    ----------
   Net interest income after provision
      for losses on loans                        4,146,271     4,403,161
   Other income                                    556,366       684,749
   Other expenses                                2,735,268     2,738,367
                                                ----------    ----------
   Income before income taxes                    1,967,369     2,349,543
   Income tax expense                              690,930       848,250
                                                ----------    ----------
   Net income                                   $1,276,439    $1,501,293
                                                ==========    ==========

   Basic  income per common share                    $0.38         $0.44
   Diluted income per common share                   $0.37         $0.43
   Dividends per common share                        $0.17         $0.16

Other Data:
   Average yield
      on all interest-earning assets                 5.73%         6.87%
   Average cost
      of all interest-bearing liabilities            2.43%         3.07%
   Interest rate spread                              3.30%         3.80%

   Return on assets (net income divided by
      average total assets)                          1.02%         1.19%
   Return on equity (net income divided
      by average total equity)                       8.01%         9.81%
   Dividend payout ratio
      (dividends per common share divided by
      net income per common share)                  45.32%        36.36%
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{"company-data": {"conformed-name": "PEOPLES BANCORP", "cik": "0000869004", "assigned-sic": "6022", "irs-number": "351811284", "state-of-incorporation": "IN", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-18991", "film-number": "04548444"}, "business-address": {"street1": "212 W 7TH ST", "street2": "PO BOX 231", "city": "AUBURN", "state": "IN", "zip": "46706", "phone": "2199252500"}, "mail-address": {"street1": "212 WEST SEVENTH ST", "city": "AUBURN", "state": "IN", "zip": "46706"}}
SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported                 January 27, 2004

                                 PEOPLES BANCORP
--------------------------------------------------------------------------------
             (Exact name of Registrant as Specified in its Charter)

        Indiana                       000-18991                  35-1811284
--------------------------------------------------------------------------------
(State or Other Jurisdiction        (Commission                (IRS Employer
     of Incorporation)               File Number)            Identification No.)

212 West 7th Street, Auburn, Indiana                                     46706
--------------------------------------------------------------------------------
(Address of Principal Executive Offices)                              (Zip Code)

Registrant's telephone number, including area code:               (260) 925-2500
                                                                  --------------

                                 Not Applicable
          (Former Name or Former Address, if Changed Since Last Report)

                                       1
PEOPLES BANCORP
                                AND SUBSIDIARIES

ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

(a) Not applicable

(b) Not applicable

(c) The following exhibit is filed herewith:

              Exhibit 99            Press Release dated January 27, 2004

ITEM 9.  REGULATION D DISCLOSURE

     On January 27, 2004,  Peoples Bancorp issued a press release announcing its
Unaudited  financial  results for the quarter ended December 31, 2003. A copy of
the press  release is attached to this Report as an exhibit and is  incorporated
herein by reference.  The attached  exhibit is furnished  pursuant to Item 12 of
Form 8-K.

                                       2
PEOPLES BANCORP
                                AND SUBSIDIARIES

                                   SIGNATURES

     Under  the  requirements  of  the  Securities  Exchange  Act of  1934,  the

Registrant  has duly  caused  this  Report  to be  signed  on its  behalf by the

undersigned thereunto duly authorized.

Date:    January 28, 2004                             /s/Maurice F. Winkler, III
                                                      Maurice F. Winkler, III
                                                      Chief Executive Officer

                                       3
Exhibit 99

                                          Date:          January 27, 2004
For Immediate Release                     NASDAQ Symbol: PFDC
                                          Contact:       Maurice F. Winkler, III
                                          Phone:         260-925-2500

Peoples Bancorp Releases Earnings

Peoples  Bancorp  reported net income for the first quarter  ended  December 31,
2003,  of  $1,276,439  verses the same quarter  last year income of  $1,501,293.
First Quarter earnings per share was $0.37 per share compared to $0.43 per share
for the same period one year ago. Net income  decreased 15% from the same period
one year ago while earnings per share decreased 14%.

Maurice F. Winkler president stated, "Peoples Bancorp posted an annualized 1.02%
return on assets and a 8.01% return on equity during the first quarter. Earnings
were impacted from lower net interest income and lower gains on sale of loans."

Peoples  reported  assets on December 31,  2003,  of  $501,234,415  and loans of
$361,876,768.  Peoples had 3,395,038 shares of stock  outstanding as of December
31, 2003,  and the price of Peoples  Bancorp  stock as of January 26, 2004,  was
$26.60 per share as listed on the NASDAQ  National  Marketing  System  under the
symbol PFDC. On December 31, 2003,  stockholders  equity was $63,929,555  with a
capital to assets ratio of 12.75% and a book value of $18.83.

Maurice F. Winkler III,  President of Peoples  Bancorp,  indicated  "We are very
pleased  with the current  performance  of both our banks and the company in the
current interest rate environment. Fiscal 2004 is off to a good start".

Peoples Bancorp,  through its Indiana subsidiary,  Peoples Federal Savings Bank,
operates nine full service offices located in Auburn, Avilla, LaGrange, Garrett,
Kendallville,  Topeka,  Waterloo,  and two in Columbia  City,  Indiana.  Peoples
Bancorp's  Michigan  subsidiary,  First Savings Bank,  operates six full service
offices  located  in Three  Rivers  (two  offices),  Schoolcraft,  and  Union in
Michigan, and Howe and Middlebury in Indiana.

                                       4
SELECTED CONSOLIDATED FINANCIAL DATA OF PEOPLES BANCORP

                                  December 31  September 30, December 31
                                      2003         2002          2002
                                 ------------  ------------  ------------
Balance Sheet Data:
   Total assets                  $501,234,415  $502,920,006  $505,713,660
   Loans receivable, net          361,876,768   356,953,361   377,749,742
   Investments and other
      interest earning assets     111,569,971   117,585,991    98,829,406
   Deposits                       378,173,509   380,115,884   378,713,264
   Stockholders' equity            63,929,555    63,924,854    61,855,255
   Non-performing loans and REO     4,502,000     3,983,000     2,460,000
   Equity to assets ratio               12.75%        12.71%        12.23%
   Book value per share                $18.83        $18.68        $17.95

                                                    Three Months Ended
                                                      December 31
Operating Data:                                    2003          2002
                                                ----------    ----------
   Interest income                              $6,844,042    $8,033,234
   Interest expense                              2,656,575     3,423,588
                                                ----------    ----------
   Net interest income                           4,187,467     4,609,646
   Provision
      for losses on loans                           41,196       206,485
                                                ----------    ----------
   Net interest income after provision
      for losses on loans                        4,146,271     4,403,161
   Other income                                    556,366       684,749
   Other expenses                                2,735,268     2,738,367
                                                ----------    ----------
   Income before income taxes                    1,967,369     2,349,543
   Income tax expense                              690,930       848,250
                                                ----------    ----------
   Net income                                   $1,276,439    $1,501,293
                                                ==========    ==========

   Basic  income per common share                    $0.38         $0.44
   Diluted income per common share                   $0.37         $0.43
   Dividends per common share                        $0.17         $0.16

Other Data:
   Average yield
      on all interest-earning assets                 5.73%         6.87%
   Average cost
      of all interest-bearing liabilities            2.43%         3.07%
   Interest rate spread                              3.30%         3.80%

   Return on assets (net income divided by
      average total assets)                          1.02%         1.19%
   Return on equity (net income divided
      by average total equity)                       8.01%         9.81%
   Dividend payout ratio
      (dividends per common share divided by
      net income per common share)                  45.32%        36.36%