Attached files
EXHIBIT 12
Columbia Banking System, Inc.
Computations of Consolidated Ratios of Earnings to Combined Fixed Charges and Preferred Stock
Dividend Requirements
2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||
(dollars in thousands) | |||||||||||||||||
Excluding interest on deposits |
|||||||||||||||||
Fixed charges: |
|||||||||||||||||
Interest expense (excluding interest on deposits) |
$ | 4,433 | $ | 10,240 | $ | 15,467 | $ | 13,074 | $ | 5,312 | |||||||
Interest within rental expense |
917 | 938 | 886 | 779 | 778 | ||||||||||||
Preferred stock dividends |
3,845 | 427 | | | | ||||||||||||
Total fixed charges |
$ | 9,195 | $ | 11,605 | $ | 16,353 | $ | 13,853 | $ | 6,090 | |||||||
Earnings: |
|||||||||||||||||
Income (loss) before income taxes |
$ | (12,946 | ) | $ | 1,062 | $ | 44,134 | $ | 44,236 | $ | 41,323 | ||||||
Fixed charges |
9,195 | 11,605 | 16,353 | 13,853 | 6,090 | ||||||||||||
Less: Preferred stock dividends |
(3,845 | ) | (427 | ) | | | | ||||||||||
Total earnings |
$ | (7,596 | ) | $ | 12,240 | $ | 60,487 | $ | 58,089 | $ | 47,413 | ||||||
Ratio of earnings to fixed charges, excluding interest on deposits |
N/A | (1) | 1.05 | 3.70 | 4.19 | 7.79 | |||||||||||
Coverage deficiency |
$ | (16,791 | ) | | | | | ||||||||||
Including interest on deposits |
|||||||||||||||||
Fixed charges: |
|||||||||||||||||
Interest expense (excluding interest on deposits) |
$ | 4,433 | $ | 10,240 | $ | 15,467 | $ | 13,074 | $ | 5,312 | |||||||
Interest expense on deposits |
23,250 | 45,307 | 59,930 | 40,838 | 25,983 | ||||||||||||
Interest within rental expense |
917 | 938 | 886 | 779 | 778 | ||||||||||||
Preferred stock dividends |
3,845 | 427 | | | | ||||||||||||
Total fixed charges |
$ | 32,445 | $ | 56,912 | $ | 76,283 | $ | 54,691 | $ | 32,073 | |||||||
Earnings: |
|||||||||||||||||
Income (loss) before income taxes |
$ | (12,946 | ) | $ | 1,062 | $ | 44,134 | $ | 44,236 | $ | 41,323 | ||||||
Fixed charges |
32,445 | 56,912 | 76,283 | 54,691 | 32,073 | ||||||||||||
Less: Preferred stock dividends |
(3,845 | ) | (427 | ) | | | | ||||||||||
Total earnings |
$ | 15,654 | $ | 57,547 | $ | 120,417 | $ | 98,927 | $ | 73,396 | |||||||
Ratio of earnings to fixed charges, including interest on deposits |
N/A | (1) | 1.01 | 1.58 | 1.81 | 2.29 | |||||||||||
Coverage deficiency |
$ | (16,791 | ) | | | | |
(1) | Earnings were inadequate to cover fixed charges by $16.8 million |