1st FRANKLIN FINANCIAL CORP - FORM 10-K - EX-12 - RATIO OF EARNINGS TO FIXED CHARGES

file	filename
EX-10.H - SEVENTH AMENDMENT TO LOAN AND SECURITY AGREEMENT - 1st FRANKLIN FINANCIAL CORP	ff_ex10zh.htm
EX-32.2 - CERTIFICATION - 1st FRANKLIN FINANCIAL CORP	ff_ex32z2.htm
EX-32.1 - CERTIFICATION - 1st FRANKLIN FINANCIAL CORP	ff_ex32z1.htm
EX-31.2 - CERTIFICATION - 1st FRANKLIN FINANCIAL CORP	ff_ex31z2.htm
EX-31.1 - CERTIFICATION - 1st FRANKLIN FINANCIAL CORP	ff_ex31z1.htm
EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - 1st FRANKLIN FINANCIAL CORP	ff_ex23.htm
EX-13 - ANNUAL REPORT - 1st FRANKLIN FINANCIAL CORP	ff_ex13.htm
EX-10.J - EXECUTIVE BONUS PLAN - 1st FRANKLIN FINANCIAL CORP	ff_ex10zj.htm
EX-10.I - DIRECTOR COMPENSATION SUMMARY TERM SHEET - 1st FRANKLIN FINANCIAL CORP	ff_ex10zi.htm
10-K - FORM 10-K FILING - 1st FRANKLIN FINANCIAL CORP	ff_10k.htm

Exhibit 12

RATIO OF EARNINGS TO FIXED CHARGES

	2016	2015	2014	2013	2012
	(In thousands, except ratio data)
Income before income taxes	`$6,330`	`$31,130`	`$37,531`	`$38,400`	`$36,663`

Interest on indebtedness	`13,432`	`12,955`	`11,952`	`11,472`	`11,394`

Portion of rents representative
of the interest factor	`2,131`	`2,014`	`1,939`	`1,837`	`1,739`

Earnings as adjusted	`$21,893`	`$46,099`	`$51,422`	`$51,709`	`$49,796`


Fixed charges:

Interest on indebtedness	`$13,432`	`$12,955`	`$11,952`	`$11,472`	`$11,394`

Portion of rents representative
of the interest factor	`2,131`	`2,014`	`1,939`	`1,837`	`1,739`

Fixed charges	`$15,563`	`$14,969`	`$13,891`	`$13,309`	`$13,133`


Ratio of earnings
to fixed charges	`1.41`	`3.08`	`3.70`	`3.89`	`3.79`

1st FRANKLIN FINANCIAL CORP - FORM 10-K - EX-12 - RATIO OF EARNINGS TO FIXED CHARGES - March 31, 2017