Exhibit 99.1



Contact:

Andrew C. Bearden, Jr. Executive Vice President & Chief Financial Officer (334) 875-1000




THE PEOPLES
BANCTRUST CO., INC. ANNOUNCES

SECOND QUARTER RESULTS



SELMA, Ala.(August 11, 2003)The Peoples BancTrust Co., Inc. (NASDAQ Small Cap: PBTC) today reported results for
its second quarter and six months ended June 30, 2003.



Commenting on the results was Elam P. Holley, Jr., President and Chief Executive Officer. Mr. Holley stated: Historically low interest rates and the sluggish economy continued to impact our net interest margins in the second quarter.
We saw our annualized net interest margin for the second quarter of this year decline by approximately 77 basis points compared to the second quarter of last year.



Net income was $1,375,000, or $0.25 per diluted share, in the second quarter of 2003 compared with $1,840,000, or $0.33 per
diluted share, in the second quarter of 2002.



Total interest
income was $9.6 million through the second quarter of 2003, compared with $10.9 million in the second quarter of 2002. Interest and fees on loans declined 8.4% to $8.1 million compared with the second quarter of last year due to a 85 basis point
reduction in loan yield on a 3.6% increase in average loan balances compared with the second quarter of 2002. Interest and dividends on investment securities were down 28.8% as the average yield declined by 165 basis points on a 6.2% increase in
average investment balances.



Total interest expense was $3.0
million in the second quarter of 2003 compared with $3.7 million in the second quarter of 2002. The average annual rate of interest paid on interest bearing liabilities was 1.99% in the second quarter of 2003 compared with 2.62% for the same period
in 2002. Deposits increased 9.9% to $633.0 million at the end of the second quarter of this year compared with the second quarter of 2002.



Net interest income for the second quarter of 2003 was $6.6 million compared with $7.3 million in the second quarter of 2002. Net interest income after
provision for loan losses was $5.7 million in the second quarter of 2003 compared with $6.4 million in the second quarter of 2002. Provision for loan losses in the second quarter of 2003 totaled $876,000 compared with $870,000 for the same period in
2002.



Peoples allowance for loan losses was $12.0
million at the end of the second quarter, up 16.6% from year end 2002, continued Mr. Holley. We believe the increase in our allowance for loan losses provides a solid foundation for our loan portfolio in a soft economy while reflecting
our more stringent credit reviews. The coverage of our allowance to non-performing loans was approximately 240% at June 30 of this year compared with 167% at year-end 2002.



Non-interest income, net of securities gains, rose 2.3% to $2.3 million compared with the second quarter of 2002. The
increase was primarily due to higher fees from trust services, mortgage loan originations and letters of credit. Non-interest income also included rental income from real estate owned in the second quarter of 2003. These increases were partially
offset by lower net security gains.



Non-interest expenses
declined 2.7% to $6.1 million compared with $6.3 million in the second quarter of 2002. Personnel expenses decreased 6.9% and premises and fixed assets expenses decreased 7.0%.



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Six Month Results



For the six months ended June 30, 2003, net income was $2,999,000, or $0.54 per diluted share, compared with $3,544,000, or
$0.64 per diluted share, for the same period in 2002.



Total
interest income for the six month period was $20.0 million compared to $22.0 million to the six month period in 2002. Total interest expense was $6.1 million in the six months ended June 30, 2003, compared to $7.5 million in the prior year period.



Net interest income for the first half of 2003 was $13.7
million compared with $14.4 million in the second half of 2002. Net interest income after provision for loan losses was $11.3 million in the first six months of 2003 compared with $12.8 million in the first six months of 2002. Provision for loan
losses in the first half of 2003 totaled $2.4 million compared to $1.7 million for the same period in 2002.



Non-interest income for the second half of 2003 rose 6.7% to $5.2 million and non-interest expense was down 2.9% to $12.2 million compared with the second
quarter of 2002.



Outlook for 2003



Our outlook for the remainder of the year is for lower net interest
income related to soft loan demand and the lower net interest margins resulting from the interest rate environment compared with the second half of 2002. We will continue to seek opportunities for non-interest income and improved operational
efficiencies, concluded Mr. Holley.



About Peoples
BancTrust Co., Inc.



The Peoples BancTrust Co., Inc.
is the parent company of The Peoples Bank and Trust Company, which has 25 offices located in nine Alabama counties (Autauga, Bibb, Butler, Dallas, Elmore, Lee, Shelby, Tallapoosa and Tuscaloosa).



Information contained in this press release, other than historical
information, may be considered forward-looking in nature and is subject to various risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on Peoples BancTrusts operating results, performance or financial condition are competition, the demand for its products
and services, the ability to expand, and numerous other factors as set forth in filings with the Securities and Exchange Commission.



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Earnings Summary:

(Dollars in thousands except per share amounts)



|                                                    |  | Three Months Ended June 30, |           | Six Months Ended June 30,
|--------------------------------------------------- |  | --------------------------- | --------- | -------------------------
|                                                    |  | 2003                        |           | 2002                     
|                                                    |  | (Unaudited)                 |           |                          
|Total interest income                               |  | $                           | 9,592     |                          
|Total interest expense                              |  |                             | 3,030     |                          
|                                                    |  |                             |           |                          
|Net interest income                                 |  |                             | 6,562     |                          
|Provision for loan losses                           |  |                             | 876       |                          
|                                                    |  |                             |           |                          
|Net interest income after provision for loan losses |  |                             | 5,686     |                          
|Net securities gains                                |  |                             | 125       |                          
|Other noninterest income                            |  |                             | 2,326     |                          
|Noninterest expense                                 |  |                             | 6,139     |                          
|                                                    |  |                             |           |                          
|Income before income taxes                          |  |                             | 1,998     |                          
|Income tax expense                                  |  |                             | 623       |                          
|                                                    |  |                             |           |                          
|Net income                                          |  | $                           | 1,375     |                          
|                                                    |  |                             |           |                          
|Basic net income per share                          |  | $                           | 0.25      |                          
|Diluted net income per share                        |  | $                           | 0.25      |                          
|                                                    |  |                             |           |                          
|Basic weighted average number of shares outstanding |  |                             | 5,562,802 |                          
|Diluted average number of shares outstanding        |  |                             | 5,591,952 |                          



Balance Sheet Summary:

(Dollars in thousands except per share amounts)



|                                    |  | As of June 30, 2003 |         |   | As of Dec. 31,2002 |  
|----------------------------------- |  | ------------------- | ------- | - | ------------------ | -
|                                    |  | (Unaudited)         |         |   |                    |  
|Total assets                        |  | $                   | 767,342 |   |                    | $
|Loans, net of the unearned discount |  |                     | 490,729 |   |                    |  
|Allowance for possible loan losses  |  |                     | (11,964 | ) |                    |  
|Total deposits                      |  |                     | 633,032 |   |                    |  
|Total borrowed funds                |  |                     | 57,028  |   |                    |  
|Stockholders equity                |  |                     | 72,673  |   |                    |  
|Book value per share                |  | $                   | 13.06   |   |                    | $