Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - FIRST BANCORP /NC/ | Financial_Report.xls |
| EX-31.2 - EX-31.2 - FIRST BANCORP /NC/ | ex31-2.htm |
| EX-31.1 - EX-31.1 - FIRST BANCORP /NC/ | ex31-1.htm |
| EX-32.2 - EX-32.2 - FIRST BANCORP /NC/ | ex32-2.htm |
| EX-32.1 - EX-32.1 - FIRST BANCORP /NC/ | ex32-1.htm |
| 10-Q - 10-Q - FIRST BANCORP /NC/ | form10q-13696_fbnc.htm |
Exhibit 12
FIRST BANCORP
COMPUTATION OF EARNINGS TO FIXED CHARGES AND PREFERRED SHARE DIVIDENDS
($ in thousands, except for ratios)
(Unaudited)
| Three Months Ended March 31, | Years Ended December 31, | |||||||||||||||||||||||||||
| 2015 | 2014 | 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||
| Including Interest on Deposits: | ||||||||||||||||||||||||||||
| Earnings: | ||||||||||||||||||||||||||||
| Income (loss) before income taxes | $ | 10,682 | 8,707 | 38,531 | 32,780 | (40,358 | ) | 21,012 | 14,942 | |||||||||||||||||||
| Fixed charges | 1,855 | 2,239 | 8,625 | 11,345 | 17,762 | 23,973 | 32,087 | |||||||||||||||||||||
| Total earnings (loss) | $ | 12,537 | 10,946 | 47,156 | 44,125 | (22,596 | ) | 44,985 | 47,029 | |||||||||||||||||||
| Fixed charges: | ||||||||||||||||||||||||||||
| Interest on deposits | $ | 1,458 | 1,891 | 7,072 | 9,960 | 15,454 | 21,351 | 29,930 | ||||||||||||||||||||
| Interest on borrowings | 297 | 250 | 1,151 | 1,025 | 1,866 | 2,214 | 1,977 | |||||||||||||||||||||
| Amortization of debt issuance costs | — | — | — | — | — | — | — | |||||||||||||||||||||
| Interest portion of rental expense (1) | 100 | 98 | 402 | 360 | 442 | 408 | 180 | |||||||||||||||||||||
| Total fixed charges | $ | 1,855 | 2,239 | 8,625 | 11,345 | 17,762 | 23,973 | 32,087 | ||||||||||||||||||||
| Preferred dividend requirements | 217 | 217 | 868 | 895 | 2,809 | 3,234 | 3,249 | |||||||||||||||||||||
| Total fixed charges and preferred dividends | $ | 2,072 | 2,456 | 9,493 | 12,240 | 20,571 | 27,207 | 35,336 | ||||||||||||||||||||
| Ratio of earnings to fixed charges, including interest on deposits | 6.76 | x | 4.89 | x | 5.47 | x | 3.89 | x | (1.27 | x) | 1.88 | x | 1.47 | x | ||||||||||||||
| Ratio of earnings to fixed charges and preferred dividends, including interest on deposits | 6.05 | x | 4.46 | x | 4.97 | x | 3.60 | x | (1.10 | x) | 1.65 | x | 1.33 | x | ||||||||||||||
| Excluding Interest on Deposits: | ||||||||||||||||||||||||||||
| Earnings: | ||||||||||||||||||||||||||||
| Income (loss) before income taxes | $ | 10,682 | 8,707 | 38,531 | 32,780 | (40,358 | ) | 21,012 | 14,942 | |||||||||||||||||||
| Fixed charges | 397 | 348 | 1,553 | 1,385 | 2,308 | 2,622 | 2,157 | |||||||||||||||||||||
| Total earnings (loss) | $ | 11,079 | 9,055 | 40,084 | 34,165 | (38,050 | ) | 23,634 | 17,099 | |||||||||||||||||||
| Fixed charges: | ||||||||||||||||||||||||||||
| Interest on borrowings | $ | 297 | 250 | 1,151 | 1,025 | 1,866 | 2,214 | 1,977 | ||||||||||||||||||||
| Amortization of debt issuance costs | — | — | — | — | — | — | — | |||||||||||||||||||||
| Interest portion of rental expense (1) | 100 | 98 | 402 | 360 | 442 | 408 | 180 | |||||||||||||||||||||
| Total fixed charges | $ | 397 | 348 | 1,553 | 1,385 | 2,308 | 2,622 | 2,157 | ||||||||||||||||||||
| Preferred dividend requirements | 217 | 217 | 868 | 895 | 2,809 | 3,234 | 3,249 | |||||||||||||||||||||
| Total fixed charges and preferred dividends | $ | 614 | 565 | 2,421 | 2,280 | 5,117 | 5,856 | 5,406 | ||||||||||||||||||||
| Ratio of earnings to fixed charges, excluding interest on deposits | 27.91 | x | 26.02 | x | 25.81 | x | 24.67 | x | (16.49 | x) | 9.01 | x | 7.93 | x | ||||||||||||||
| Ratio of earnings to fixed charges and preferred dividends, excluding interest on deposits | 18.04 | x | 16.03 | x | 16.56 | x | 14.98 | x | (7.44 | x) | 4.04 | x | 3.16 | x | ||||||||||||||
| (1) | Estimated to be one-third of rental expense. |