Attached files
Exhibit 12
RATIO OF EARNINGS TO FIXED CHARGES
| ($ in thousands) |
Intervest Bancshares Corporation Consolidated |
Intervest Bancshares Corporation (Stand Alone) | ||||
| For the Nine Months Ended September 30, 2009: |
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| Earnings before income taxes (1) |
$ | 3,959 | $ | 924 | ||
| Fixed charges, excluding interest on deposits (2) |
5,675 | 3,411 | ||||
| Earnings before income taxes and fixed charges, excluding interest on deposits |
9,634 | 4,335 | ||||
| Interest on deposits |
57,468 | — | ||||
| Earnings before income taxes and fixed charges, including interest on deposits |
$ | 67,102 | $ | 4,335 | ||
| Earnings to fixed charges ratios: excluding interest on deposits |
1.70 x | 1.27 x | ||||
| Earnings to fixed charges ratios: including interest on deposits |
1.06 x | 1.27 x | ||||
| For the Year Ended December 31, 2008: |
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| Earnings before income taxes (1) |
$ | 13,157 | $ | 138 | ||
| Fixed charges, excluding interest on deposits (2) |
9,740 | 3,537 | ||||
| Earnings before income taxes and fixed charges, excluding interest on deposits |
22,897 | 3,675 | ||||
| Interest on deposits |
80,636 | — | ||||
| Earnings before income taxes and fixed charges, including interest on deposits |
$ | 103,533 | $ | 3,675 | ||
| Earnings to fixed charges ratios: excluding interest on deposits |
2.35 x | 1.04 x | ||||
| Earnings to fixed charges ratios: including interest on deposits |
1.15 x | 1.04 x | ||||
| For the Year Ended December 31, 2007: |
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| Earnings before income taxes (1) |
$ | 34,452 | $ | 292 | ||
| Fixed charges, excluding interest on deposits (2) |
11,106 | 3,647 | ||||
| Earnings before income taxes and fixed charges, excluding interest on deposits |
45,558 | 3,939 | ||||
| Interest on deposits |
78,547 | — | ||||
| Earnings before income taxes and fixed charges, including interest on deposits |
$ | 124,105 | $ | 3,939 | ||
| Earnings to fixed charges ratios: excluding interest on deposits |
4.10 x | 1.08 x | ||||
| Earnings to fixed charges ratios: including interest on deposits |
1.38 x | 1.08 x | ||||
| For the Year Ended December 31, 2006: |
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| Earnings before income taxes (1) |
$ | 41,484 | $ | 118 | ||
| Fixed charges, excluding interest on deposits (2) |
12,666 | 4,910 | ||||
| Earnings before income taxes and fixed charges, excluding interest on deposits |
54,150 | 5,028 | ||||
| Interest on deposits |
65,631 | — | ||||
| Earnings before income taxes and fixed charges, including interest on deposits |
$ | 119,781 | $ | 5,028 | ||
| Earnings to fixed charges ratios: excluding interest on deposits |
4.28 x | 1.02 x | ||||
| Earnings to fixed charges ratios: including interest on deposits |
1.53 x | 1.02 x | ||||
| For the Year Ended December 31, 2005: |
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| Earnings before income taxes (1) |
$ | 32,250 | $ | 112 | ||
| Fixed charges, excluding interest on deposits (2) |
12,528 | 5,003 | ||||
| Earnings before income taxes and fixed charges, excluding interest on deposits |
44,778 | 5,115 | ||||
| Interest on deposits |
44,919 | — | ||||
| Earnings before income taxes and fixed charges, including interest on deposits |
$ | 89,697 | $ | 5,115 | ||
| Earnings to fixed charges ratios: excluding interest on deposits |
3.57 x | 1.02 x | ||||
| Earnings to fixed charges ratios: including interest on deposits |
1.56 x | 1.02 x | ||||
| For the Year Ended December 31, 2004: |
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| Earnings before income taxes (1) |
$ | 20,229 | $ | 107 | ||
| Fixed charges, excluding interest on deposits (2) |
12,353 | 4,351 | ||||
| Earnings before income taxes and fixed charges, excluding interest on deposits |
32,582 | 4,458 | ||||
| Interest on deposits |
26,330 | — | ||||
| Earnings before income taxes and fixed charges, including interest on deposits |
$ | 58,912 | $ | 4,458 | ||
| Earnings to fixed charges ratios: excluding interest on deposits |
2.64 x | 1.02 x | ||||
| Earnings to fixed charges ratios: including interest on deposits |
1.52 x | 1.02 x | ||||
| (1) | IBCs stand alone earnings before income taxes includes dividends received from INB for purposes of this calculation as follows: $3,102,000 in the 2009 period, $3,507,000 in 2008; $3,540,000 in 2007; $4,884,000 in 2006 and $4,356,000 in 2005. |
| (2) | Fixed charges for purposes of this calculation represent the aggregate of interest expense on debentures and other short- term borrowings, amortization of debenture offering costs and preferred stock dividend requirements, which are comprised of preferred stock dividends and related preferred stock discount amortization. |