Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - FIRSTBANK CORP | first10k_123109.htm |
| EX-3 - AMENDED ARTICLES OF INCORPORATION - FIRSTBANK CORP | first10k_123109ex3a.htm |
| EX-13 - FINANCIALS - FIRSTBANK CORP | first10k_123109ex13.htm |
| EX-21 - SUBSIDIARIES - FIRSTBANK CORP | first10k_123109ex21.htm |
| EX-10 - RESTRICTED STOCK AGREEMENT - FIRSTBANK CORP | first10k_123109ex10k.htm |
| EX-99 - TARP CERTIFICATION OF CFO - FIRSTBANK CORP | first10k_123109ex99p3.htm |
| EX-31 - CERTIFICATION OF THOMAS SULLIVAN - FIRSTBANK CORP | first10k_123109ex31p1.htm |
| EX-32 - CERTIFICATION OF SULLIVAN AND STONE - FIRSTBANK CORP | first10k_123109ex32p1.htm |
| EX-31 - CERTIFICATION OF SAMUAL STONE - FIRSTBANK CORP | first10k_123109ex31p2.htm |
| EX-14 - CODE OF ETHICS - FIRSTBANK CORP | first10k_123109ex14.htm |
| EX-23 - CONSENT OF INDEPENDENT ACCOUNTING FIRM - FIRSTBANK CORP | first10k_123109ex23p1.htm |
| EX-99 - PERFORMANCE TABLE - FIRSTBANK CORP | first10k_123109ex99p1.htm |
| EX-99 - TARP CERTIFICATION OF CEO - FIRSTBANK CORP | first10k_123109ex99p2.htm |
EXHIBIT 12
Ratio of Earnings to Fixed Charges
|
(In thousands of dollars) |
2009 |
|
2008 |
|
2007 |
|
2006 |
|
2005 |
|
|
Fixed charges |
|
|
|
|
|
|
|
|
|
|
|
Interest expensed and capitalized |
$ 25,939 |
|
$ 35,353 |
|
$ 38,217 |
|
$ 30,721 |
|
$ 17,814 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preference dividends |
|
|
|
|
|
|
|
|
|
|
|
Preferred dividend |
1,513 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Divided by 1 – tax rate |
0.66 |
|
0.66 |
|
0.66 |
|
0.66 |
|
0.66 |
|
|
Preference dividend cost |
2,292 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Total fixed charges and preferred dividends |
28,231 |
|
35,353 |
|
38,217 |
|
30,721 |
|
17,814 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Interest on deposits |
(18,841 |
) |
(25,468 |
) |
(28,649 |
) |
(22,942 |
) |
(12,368 |
) |
|
Total fixed charges and preferred Dividends excluding interest on deposits |
$ 9,390 |
|
$ 9,885 |
|
$ 9,568 |
|
$ 7,779 |
|
$ 5,446 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings |
|
|
|
|
|
|
|
|
|
|
|
Pre-tax income |
$ 3,735 |
|
$ (343 |
) |
$ 11,277 |
|
$ 14,610 |
|
$ 14,813 |
|
|
Add: Fixed charges and preferred dividends |
28,231 |
|
35,353 |
|
38,217 |
|
30,721 |
|
17,814 |
|
|
Total earnings |
31,966 |
|
35,010 |
|
49,494 |
|
45,331 |
|
32,627 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Interest on deposits |
(18,841 |
) |
(25,468 |
) |
(28,649 |
) |
(22,942 |
) |
(12,368 |
) |
|
Total earnings less interest on deposits |
$ 13,125 |
|
$ 9,542 |
|
$ 20,845 |
|
$ 22,389 |
|
$ 20,259 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of earnings to fixed charges |
|
|
|
|
|
|
|
|
|
|
|
Including interest on deposits |
1.13x |
|
0.99x |
|
1.30x |
|
1.48x |
|
1.83x |
|
|
Excluding interest on deposits |
1.40x |
|
0.97x |
|
2.18x |
|
2.88x |
|
3.72x |
|