Attached files
| file | filename |
|---|---|
| 10-Q - FORM 1O-Q - FIRST BANCORP /PR/ | g25167e10vq.htm |
| EX-31.1 - EX-31.1 - FIRST BANCORP /PR/ | g25167exv31w1.htm |
| EX-32.1 - EX-32.1 - FIRST BANCORP /PR/ | g25167exv32w1.htm |
| EX-12.2 - EX-12.2 - FIRST BANCORP /PR/ | g25167exv12w2.htm |
| EX-32.2 - EX-32.2 - FIRST BANCORP /PR/ | g25167exv32w2.htm |
| EX-31.2 - EX-31.2 - FIRST BANCORP /PR/ | g25167exv31w2.htm |
EXHIBIT 12.1
First BanCorp
Computation of Ratio of Earnings to Fixed Charges
Computation of Ratio of Earnings to Fixed Charges
| Nine-Month Period Ended | ||||
| September 30, 2010 | ||||
Including Interest on Deposits |
||||
Earnings: |
||||
Pre-tax loss from continuing operations |
$ | (263,151 | ) | |
Plus: |
||||
Fixed Charges (excluding capitalized interest) |
295,391 | |||
Total Earnings |
$ | 32,240 | ||
Fixed Charges: |
||||
Interest expensed and capitalized |
$ | 292,601 | ||
Amortized premiums, discounts, and capitalized
expenses related to indebtedness |
33 | |||
An estimate of the interest component within rental expense |
2,757 | |||
Total Fixed Charges |
$ | 295,391 | ||
Ratio of Earnings to Fixed Charges |
(A) | |||
Excluding Interest on Deposits |
||||
Earnings: |
||||
Pre-tax loss from continuing operations |
$ | (263,151 | ) | |
Plus: |
||||
Fixed Charges (excluding capitalized interest) |
104,657 | |||
Total Losses |
$ | (158,494 | ) | |
Fixed Charges: |
||||
Interest expensed and capitalized |
$ | 101,867 | ||
Amortized premiums, discounts, and capitalized
expenses related to indebtedness |
33 | |||
An estimate of the interest component within rental expense |
2,757 | |||
Total Fixed Charges |
$ | 104,657 | ||
Ratio of Earnings to Fixed Charges |
(A) | |||
| (A) | For September 30, 2010, the ratio coverage was less than 1:1. The Corporation would have to generate additional earnings of $263.2 million to achieve a ratio of 1:1 for the nine-month period ended September 30, 2010. |