Attached files
file | filename |
---|---|
EX-32.1 - EXHIBIT 32.1 - FIRST BANCORP /NC/ | ex32_1.htm |
EX-31.2 - EXHIBIT 31.2 - FIRST BANCORP /NC/ | ex31_2.htm |
EX-31.1 - EXHIBIT 31.1 - FIRST BANCORP /NC/ | ex31_1.htm |
EX-32.2 - EXHIBIT 32.2 - FIRST BANCORP /NC/ | ex32_2.htm |
10-Q - FORM 10Q - FIRST BANCORP /NC/ | form10q-109635_fbnc.htm |
Exhibit 12
FIRST BANCORP
COMPUTATION OF EARNINGS TO FIXED CHARGES AND PREFERRED SHARE DIVIDENDS
(In thousands, except for ratios)
(Unaudited)
Six Months Ended
June 30,
|
Years Ended December 31,
|
|||||||||||||||||||||||||||
2010
|
2009
|
2009
|
2008
|
2007
|
2006
|
2005
|
||||||||||||||||||||||
Including Interest on Deposits:
|
||||||||||||||||||||||||||||
Earnings:
|
||||||||||||||||||||||||||||
Income before income taxes
|
$ | 13,081 | 79,524 | 97,877 | 35,125 | 34,960 | 30,725 | 32,919 | ||||||||||||||||||||
Fixed charges
|
19,029 | 24,640 | 49,075 | 61,483 | 69,837 | 54,856 | 33,006 | |||||||||||||||||||||
Total earnings
|
$ | 32,110 | 104,164 | 146,952 | 96,608 | 104,797 | 85,581 | 65,925 | ||||||||||||||||||||
Fixed charges:
|
||||||||||||||||||||||||||||
Interest on deposits
|
$ | 16,231 | 22,649 | 45,518 | 53,241 | 59,553 | 46,032 | 28,516 | ||||||||||||||||||||
Interest on borrowings
|
1,083 | 1,901 | 3,377 | 7,947 | 9,886 | 8,400 | 4,085 | |||||||||||||||||||||
Amortization of debt issuance costs
|
— | — | — | 115 | 219 | 239 | 237 | |||||||||||||||||||||
Interest portion of rental expense (1)
|
90 | 90 | 180 | 180 | 179 | 185 | 168 | |||||||||||||||||||||
Total fixed charges
|
$ | 17,404 | 24,640 | 49,075 | 61,483 | 69,837 | 54,856 | 33,006 | ||||||||||||||||||||
Preferred dividend requirements
|
1,625 | 1,561 | 3,169 | — | — | — | — | |||||||||||||||||||||
Total fixed charges and preferred
|
||||||||||||||||||||||||||||
dividends
|
$ | 19,029 | 26,201 | 52,244 | 61,483 | 69,837 | 54,856 | 33,006 | ||||||||||||||||||||
Ratio of earnings to fixed charges,
|
||||||||||||||||||||||||||||
including interest on deposits
|
1.84 | x | 4.23 | x | 2.99 | x | 1.57 | x | 1.50 | x | 1.56 | x | 2.00 | x | ||||||||||||||
Ratio of earnings to fixed charges and
|
||||||||||||||||||||||||||||
preferred dividends, including
|
||||||||||||||||||||||||||||
interest on deposits
|
1.69 | x | 3.98 | x | 2.81 | x | 1.57 | x | 1.50 | x | 1.56 | x | 2.00 | x | ||||||||||||||
Excluding Interest on Deposits:
|
||||||||||||||||||||||||||||
Earnings:
|
||||||||||||||||||||||||||||
Income before income taxes
|
$ | 13,081 | 79,524 | 97,877 | 35,125 | 34,960 | 30,725 | 32,919 | ||||||||||||||||||||
Fixed charges
|
2,798 | 3,552 | 3,557 | 8,242 | 10,284 | 8,824 | 4,490 | |||||||||||||||||||||
Total earnings
|
$ | 15,879 | 83,076 | 101,434 | 43,367 | 45,244 | 39,549 | 37,409 | ||||||||||||||||||||
Fixed charges:
|
||||||||||||||||||||||||||||
Interest on borrowings
|
$ | 1,083 | 1,901 | 3,377 | 7,947 | 9,886 | 8,400 | 4,085 | ||||||||||||||||||||
Amortization of debt issuance costs
|
— | — | — | 115 | 219 | 239 | 237 | |||||||||||||||||||||
Interest portion of rental expense (1)
|
90 | 90 | 180 | 180 | 179 | 185 | 168 | |||||||||||||||||||||
Total fixed charges
|
$ | 1,173 | 1,991 | 3,557 | 8,242 | 10,284 | 8,824 | 4,490 | ||||||||||||||||||||
Preferred dividend requirements
|
1,625 | 1,561 | 3,169 | — | — | — | — | |||||||||||||||||||||
Total fixed charges and preferred
|
||||||||||||||||||||||||||||
dividends
|
$ | 2,798 | 3,552 | 6,726 | 8,242 | 10,284 | 8,824 | 4,490 | ||||||||||||||||||||
Ratio of earnings to fixed charges,
|
||||||||||||||||||||||||||||
excluding interest on deposits
|
13.54 | x | 41.73 | x | 28.52 | x | 5.26 | x | 4.40 | x | 4.48 | x | 8.33 | x | ||||||||||||||
Ratio of earnings to fixed charges and
|
||||||||||||||||||||||||||||
preferred dividends, excluding
|
||||||||||||||||||||||||||||
interest on deposits
|
5.68 | x | 23.39 | x | 15.08 | x | 5.26 | x | 4.40 | x | 4.48 | x | 8.33 | x |
(1)
|
Estimated to be one-third of rental expense.
|