Attached files
| file | filename |
|---|---|
| EX-32.1 - EX-32.1 - FIRST BANCORP /PR/ | g25544aexv32w1.htm |
| EX-31.1 - EX-31.1 - FIRST BANCORP /PR/ | g25544aexv31w1.htm |
| EX-32.2 - EX-32.2 - FIRST BANCORP /PR/ | g25544aexv32w2.htm |
| EX-31.2 - EX-31.2 - FIRST BANCORP /PR/ | g25544aexv31w2.htm |
| EX-12.2 - EX-12.2 - FIRST BANCORP /PR/ | g25544aexv12w2.htm |
| 10-Q - FORM 10-Q - FIRST BANCORP /PR/ | g25544ae10vq.htm |
EXHIBIT 12.1
First BanCorp
Computation of Ratio of Earnings to Fixed Charges
Computation of Ratio of Earnings to Fixed Charges
| Six-Month Period Ended | ||||
| June 30, 2011 | ||||
Including Interest on Deposits |
||||
Earnings: |
||||
Pre-tax loss from continuing operations |
$ | (37,152 | ) | |
Plus: |
||||
Fixed Charges (excluding capitalized interest) |
144,660 | |||
Total Earnings |
$ | 107,508 | ||
Fixed Charges: |
||||
Interest expensed and capitalized |
$ | 143,001 | ||
Amortized premiums, discounts, and capitalized
expenses related to indebtedness |
31 | |||
An estimate of the interest component within rental expense |
1,628 | |||
Total Fixed Charges |
$ | 144,660 | ||
Ratio of Earnings to Fixed Charges |
(A) | |||
Excluding Interest on Deposits |
||||
Earnings: |
||||
Pre-tax loss from continuing operations |
$ | (37,152 | ) | |
Plus: |
||||
Fixed Charges (excluding capitalized interest) |
41,076 | |||
Total Losses |
$ | 3,924 | ||
Fixed Charges: |
||||
Interest expensed and capitalized |
$ | 39,417 | ||
Amortized premiums, discounts, and capitalized
expenses related to indebtedness |
31 | |||
An estimate of the interest component within rental expense |
1,628 | |||
Total Fixed Charges |
$ | 41,076 | ||
Ratio of Earnings to Fixed Charges |
(A) | |||
| (A) | For June 30, 2011, the ratio coverage was less than 1:1. The Corporation would have to generate additional earnings of $37.2 million to achieve a ratio of 1:1 for the six-month period ended June 30, 2011. |