Attached files
| file | filename |
|---|---|
| 10-Q - PARK NATIONAL CORP /OH/ | v182047_10q.htm |
| EX-32.2 - PARK NATIONAL CORP /OH/ | v182047_ex32-2.htm |
| EX-31.2 - PARK NATIONAL CORP /OH/ | v182047_ex31-2.htm |
| EX-32.1 - PARK NATIONAL CORP /OH/ | v182047_ex32-1.htm |
| EX-31.1 - PARK NATIONAL CORP /OH/ | v182047_ex31-1.htm |
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Exhibit
12
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Computation
of Ratio of Earnings to Fixed Charges
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The
following table shows the ratio of earnings to fixed charges for Park
National Corporation ("Park"), which includes our subsidiaries, on a consolidated
basis:
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Three
Months Ended
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Year
Ended December 31,
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March
31, 2010
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2009
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2008
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2007
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2006
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2005
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Ratio
of earnings to fixed charges (1):
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Excluding
Interest on Deposits
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4.68 | 4.20 | 1.77 | 2.12 | 4.36 | 4.61 | |||||||||||||||||||||||||||
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Including
Interest on Deposits
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2.40 | 2.02 | 1.26 | 1.31 | 2.09 | 2.44 | |||||||||||||||||||||||||||
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(1)
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For
purposes of computing the ratios, earnings consist of income before income
taxes and fixed charges. Fixed charges consist
of interest on borrowings (short-term borrowings, long-term debt and
subordinated debentures and notes), including/excluding
interest on deposits, and one-third of rental expense, which Park believes
is representative of the interest factor.
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Earnings:
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Income
before income taxes
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$ | 27,954,000 | $ | 97,135,000 | $ | 35,719,000 | $ | 52,677,000 | $ | 133,077,000 | $ | 135,424,000 | |||||||||||||||||||||
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Fixed
Charges:
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Interest
on deposits
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12,425,000 | 64,620,000 | 89,892,000 | 121,021,000 | 82,272,000 | 56,899,000 | |||||||||||||||||||||||||||
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Interest
on borrowings
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7,397,000 | 29,579,000 | 45,574,000 | 46,126,000 | 39,043,000 | 36,996,000 | |||||||||||||||||||||||||||
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Rent
expense interest factor (1/3)
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190,118 | 794,866 | 801,147 | 731,723 | 530,030 | 476,528 | |||||||||||||||||||||||||||
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Total
Fixed Charges:
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Including
interest on deposits
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$ | 20,012,118 | $ | 94,993,866 | $ | 136,267,147 | $ | 167,878,723 | $ | 121,845,030 | $ | 94,371,528 | |||||||||||||||||||||
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Excluding
interest on deposits
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$ | 7,587,118 | $ | 30,373,866 | $ | 46,375,147 | $ | 46,857,723 | $ | 39,573,030 | $ | 37,472,528 | |||||||||||||||||||||
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Computation
of Ratio of Earnings to Fixed Charges and Preferred
Dividends
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The
following table shows the ratio of earnings to fixed charges and preferred
dividends for Park National Corporation ("Park"), which includes our
subsidiaries, on a consolidated
basis:
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Three
Months Ended
|
Year
Ended December 31,
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March
31, 2010
|
2009
|
2008
|
2007
|
2006
|
2005
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Ratio
of earnings to fixed charges
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and
preferred dividends (1):
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Excluding
Interest on Deposits
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3.89 | 3.52 | 1.77 | 2.12 | 4.36 | 4.61 | |||||||||||||||||||||||||||
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Including
Interest on Deposits
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2.27 | 1.94 | 1.26 | 1.31 | 2.09 | 2.44 | |||||||||||||||||||||||||||
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(1)
|
For
purposes of computing the ratios, earnings consist of income before income
taxes and fixed charges. Fixed charges consist
of interest on borrowings (short-term borrowings, long-term debt and
subordinated debentures and notes), including/excluding
interest on deposits, dividends and accretion on preferred stock and
one-third of rental expense, which
Park believes is representative of the interest
factor.
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Earnings:
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Income
before income taxes
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$ | 27,954,000 | $ | 97,135,000 | $ | 35,719,000 | $ | 52,677,000 | $ | 133,077,000 | $ | 135,424,000 | |||||||||||||||||||||
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Fixed
Charges:
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Interest
on deposits
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12,425,000 | 64,620,000 | 89,892,000 | 121,021,000 | 82,272,000 | 56,899,000 | |||||||||||||||||||||||||||
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Interest
on borrowings
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7,397,000 | 29,579,000 | 45,574,000 | 46,126,000 | 39,043,000 | 36,996,000 | |||||||||||||||||||||||||||
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Preferred
dividends and accretion
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2,074,286 | 8,231,429 | 202,857 | N/A | N/A | N/A | |||||||||||||||||||||||||||
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Rent
expense interest factor (1/3)
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190,118 | 794,866 | 801,147 | 731,723 | 530,030 | 476,528 | |||||||||||||||||||||||||||
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Total
fixed charges:
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Including
interest on deposits
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$ | 22,086,403 | $ | 103,225,295 | $ | 136,470,004 | $ | 167,878,723 | $ | 121,845,030 | $ | 94,371,528 | |||||||||||||||||||||
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Excluding
interest on deposits
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$ | 9,661,403 | $ | 38,605,295 | $ | 46,578,004 | $ | 46,857,723 | $ | 39,573,030 | $ | 37,472,528 | |||||||||||||||||||||