Attached files
Exhibit 12
Intervest Bancshares Corporation and Subsidiaries
Computation of Ratios of Earnings to Fixed Charges
For the Year Ended December 31, 2010 |
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Intervest Bancshares | Intervest Bancshares | |||||||||||
Corporation | Corporation | |||||||||||
($ in thousands) | Consolidated | (stand alone) | ||||||||||
(Loss) earnings before income taxes (1) |
$ (93,656) | $(2,761) | ||||||||||
Fixed charges, excluding interest on deposits (2) |
5,372 | 3,815 | ||||||||||
(Loss) earnings before income taxes and fixed charges, excluding interest on deposits |
(88,284) | 1,054 | ||||||||||
Interest on deposits |
58,987 | - | ||||||||||
(Loss) earnings before income taxes and fixed charges, including interest on deposits |
$(29,297) | $1,054 | ||||||||||
Earnings to fixed charges ratios: |
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Excluding interest on deposits |
-16.43 x | 0.28 x | ||||||||||
Including interest on deposits |
-0.46 x | 0.28 x |
For the Year Ended December 31, 2009 |
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Intervest Bancshares | Intervest Bancshares | |||||||||||
Corporation | Corporation | |||||||||||
($ in thousands) | Consolidated | (stand alone) | ||||||||||
Earnings before income taxes (1) |
$ 4,946 | $1,170 | ||||||||||
Fixed charges, excluding interest on deposits (2) |
7,104 | 4,345 | ||||||||||
Earnings before income taxes and fixed charges, excluding interest on deposits |
12,050 | 5,515 | ||||||||||
Interest on deposits |
75,528 | - | ||||||||||
Earnings before income taxes and fixed charges, including interest on deposits |
$87,578 | $5,515 | ||||||||||
Earnings to fixed charges ratios: |
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Excluding interest on deposits |
1.70 x | 1.27x | ||||||||||
Including interest on deposits |
1.06 x | 1.27 x |
For the Year Ended December 31, 2008 |
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Intervest Bancshares | Intervest Bancshares | |||||||||||
Corporation | Corporation | |||||||||||
($ in thousands) | Consolidated | (stand alone) | ||||||||||
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 | ||||||||||
Including interest on deposits |
1.15 x | 1.04 x |
(1) | IBCs stand alone earnings before income taxes includes dividends received from Intervest National Bank, its wholly-owned subsidiary, for purposes of this calculation as follows: none in 2010, $3,933,000 in 2009 and $3,507,000. In 2010, INB was required by its primary regulator to suspend its dividend payments to IBC. See the section Supervision and Regulation in Item 1 Business of IBCs annual report on Form 10-K for the year ended December 31, 2010 for further discussion of this restriction imposed on INB. |
(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. |