TAYLOR CAPITAL GROUP INC - FORM 10-K - EX-12.1 - COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - March 22, 2011

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10-K - FORM 10-K - TAYLOR CAPITAL GROUP INCd10k.htm
EX-21.1 - LIST OF SUBSIDIARIES OF TAYLOR CAPITAL GROUP, INC. - TAYLOR CAPITAL GROUP INCdex211.htm
EX-23.1 - CONSENT OF KPMG LLP - TAYLOR CAPITAL GROUP INCdex231.htm
EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO RULE 13A-14(A) - TAYLOR CAPITAL GROUP INCdex312.htm
EX-99.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 111(B)(4) - TAYLOR CAPITAL GROUP INCdex991.htm
EX-99.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 111(B)(4) - TAYLOR CAPITAL GROUP INCdex992.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO RULE 13A-14(A) - TAYLOR CAPITAL GROUP INCdex311.htm
EX-32.1 - CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER - TAYLOR CAPITAL GROUP INCdex321.htm

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

 

     For the Years Ended December 31,  
     2010     2009     2008     2007     2006  

INCLUDING INTEREST ON DEPOSITS

           

Earnings

           

Income (loss) before income taxes

    $ (52,606 )    $ (30,716 )    $ (132,740 )    $ (5,009 )    $ 48,198   

Plus:

           

Total Fixed Charges (See below)

      90,159        117,359        117,663        125,005        112,335   

Less:

           

Preferred stock dividend (1)

      (14,922 )      (17,666 )      (3,308 )      —          —     
                                        

Total Earnings

    $ 22,631      $ 68,977      $ (18,385 )    $ 119,996      $ 160,533   
                                        

Fixed Charges

           

Total interest expense (2)

    $ 72,442      $ 97,119      $ 112,097      $ 122,354      $ 109,808   

Interest included in operating lease rental expense (3)

      2,795        2,574        2,258        2,651        2,527   

Preferred stock dividend (1)

      14,922        17,666        3,308        —          —     
                                        

Total Fixed Charges

    $ 90,159      $ 117,359      $ 117,663      $ 125,005      $ 112,335   
                                        

Ratio of Earnings to Fixed Charges

      0.25x        0.59x        (0.16 )x      0.96x        1.43x   
                                        

EXCLUDING INTEREST ON DEPOSITS

           

Earnings

           

Income (loss) before income taxes

    $ (52,606 )    $ (30,716 )    $ (132,740 )    $ (5,009 )    $ 48,198   

Plus:

           

Total Fixed Charges excluding interest on deposits (See below)

      45,873        48,195        29,384        27,975        25,069   

Less:

           

Preferred stock dividend (1)

      (14,922 )      (17,666 )      (3,308 )      —          —     
                                        

Total Earnings

    $ (21,655 )    $ (187 )    $ (106,664 )    $ 22,966      $ 73,267   
                                        

Fixed Charges

           

Total interest expense (2)

    $ 72,442      $ 97,119      $ 112,097      $ 122,354      $ 109,808   

Interest included in operating lease rental expense (3)

      2,795        2,574        2,258        2,651        2,527   

Preferred stock dividend (1)

      14,922        17,666        3,308        —          —     

Less: Interest expense on deposits

      (44,286 )      (69,164 )      (88,279 )      (97,030 )      (87,266 ) 
                                        

Total Fixed Charges excluding interest on deposits

    $ 45,873      $ 48,195      $ 29,384      $ 27,975      $ 25,069   
                                        

Ratio of Earnings to Fixed Charges (excluding interest on deposits)

      (0.47 )x      0.0x        (3.63 )x      0.82x        2.92x   
                                        

 

(1) The preferred stock dividend amount has been grossed up to compute the pre-tax income equivalent assuming an estimated 35% tax rate.
(2) Interest expense includes cash interest expense on deposits and other debt and amortization of debt issuance costs.
(3) Calculation of interest included in operating lease rental expense is representative of the interest factor attributable to the lease payment.

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