Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - FIRST BANCORP /PR/ | g27245e10vq.htm |
| EX-12.2 - EX-12.2 - FIRST BANCORP /PR/ | g27245exv12w2.htm |
| EX-31.2 - EX-31.2 - FIRST BANCORP /PR/ | g27245exv31w2.htm |
| EX-32.1 - EX-32.1 - FIRST BANCORP /PR/ | g27245exv32w1.htm |
| EX-32.2 - EX-32.2 - FIRST BANCORP /PR/ | g27245exv32w2.htm |
| EX-31.1 - EX-31.1 - FIRST BANCORP /PR/ | g27245exv31w1.htm |
EXHIBIT 12.1
First BanCorp
Computation of Ratio of Earnings to Fixed Charges
Computation of Ratio of Earnings to Fixed Charges
| Quarter Ended | ||||
| March 31, 2011 | ||||
Including Interest on Deposits |
||||
Earnings: |
||||
Pre-tax loss from continuing operations |
$ | (24,834 | ) | |
Plus: |
||||
Fixed Charges (excluding capitalized interest) |
74,857 | |||
Total Earnings |
$ | 50,023 | ||
Fixed Charges: |
||||
Interest expensed and capitalized |
$ | 74,015 | ||
Amortized premiums, discounts, and capitalized
expenses related to indebtedness |
11 | |||
An estimate of the interest component within rental expense |
831 | |||
Total Fixed Charges |
$ | 74,857 | ||
Ratio of Earnings to Fixed Charges |
(A) | |||
Excluding Interest on Deposits |
||||
Earnings: |
||||
Pre-tax loss from continuing operations |
$ | (24,834 | ) | |
Plus: |
||||
Fixed Charges (excluding capitalized interest) |
20,799 | |||
Total Losses |
$ | (4,035 | ) | |
Fixed Charges: |
||||
Interest expensed and capitalized |
$ | 19,956 | ||
Amortized premiums, discounts, and capitalized
expenses related to indebtedness |
11 | |||
An estimate of the interest component within rental expense |
832 | |||
Total Fixed Charges |
$ | 20,799 | ||
Ratio of Earnings to Fixed Charges |
(A) | |||
| (A) | For March 31, 2011, the ratio coverage was less than 1:1. The Corporation would have to generate additional earnings of $24.8 million to achieve a ratio of 1:1 for the quarter ended March 31, 2011. |