Attached files
| file | filename |
|---|---|
| EX-1.1 - UNDERWRITING AGREEMENT - Ameris Bancorp | d368084dex11.htm |
| 8-K - FORM 8-K - Ameris Bancorp | d368084d8k.htm |
Exhibit 12.1
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
The following table sets forth our ratio of earnings to combined fixed charges and preferred stock dividends for the periods indicated (in thousands).
| Three Months Ended March 31, | Year Ended December 31, | |||||||||||||||||||||||||||
| 2012 | 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||||
| EARNINGS |
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| Pre-tax income from continuing operations |
7,863 | 2,202 | 31,649 | (7,184 | ) | (34,492 | ) | (5,969 | ) | 22,453 | ||||||||||||||||||
| Fixed charges |
5,536 | 8,870 | 31,354 | 33,300 | 43,979 | 56,939 | 71,109 | |||||||||||||||||||||
| Amortization of capitalized interest |
— | — | — | — | — | — | — | |||||||||||||||||||||
| Capitalized interest |
— | — | — | — |
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| Preferred TARP dividends (pre-tax equivalent) |
(815 | ) | (798 | ) | (3,241 | ) | (3,213 | ) | (3,161 | ) | (328 | ) | — | |||||||||||||||
| Preferred TARP accretion (pre-tax equivalent) |
— | — | — | — | — | — | — | |||||||||||||||||||||
| Preferred dividends (pre-tax equivalent) |
— | — | — | — | — | — | — | |||||||||||||||||||||
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| Total earnings |
12,584 | 10,274 | 59,762 | 22,903 | 6,326 | 50,642 | 93,562 | |||||||||||||||||||||
| Interest on deposits |
4,084 | 7,375 | 25,506 | 28,647 | 38,506 | 51,942 | 62,380 | |||||||||||||||||||||
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| Total earnings exc. deposit int. |
8,500 | 2,899 | 34,256 | (5,744 | ) | (32,180 | ) | (1,300 | ) | 31,182 | ||||||||||||||||||
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| FIXED CHARGES |
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| Interest expensed |
4,555 | 7,930 | 27,547 | 29,794 | 40,550 | 56,343 | 70,998 | |||||||||||||||||||||
| Interest capitalized |
— | — | — | — | — | — | — | |||||||||||||||||||||
| Interest included in rental expense |
166 | 142 | 566 | 293 | 268 | 268 | 111 | |||||||||||||||||||||
| Preferred TARP dividends (pre-tax equivalent) |
815 | 798 | 3,241 | 3,213 | 3,161 | 328 | — | |||||||||||||||||||||
| Preferred TARP accretion (pre-tax equivalent) |
— | — | — | — | — | — | — | |||||||||||||||||||||
| Preferred dividends (pre-tax equivalent) |
— | — | — | — | — | — | — | |||||||||||||||||||||
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| Total fixed charges |
5,536 | 8,870 | 31,354 | 33,300 | 43,979 | 56,939 | 71,109 | |||||||||||||||||||||
| Interest on deposits |
4,084 | 4,084 | 25,506 | 28,647 | 38,506 | 51,942 | 62,380 | |||||||||||||||||||||
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| Total fixed charges exc. deposit int. |
1,452 | 4,786 | 5,848 | 4,653 | 5,473 | 4,997 | 8,729 | |||||||||||||||||||||
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| RATIO OF EARNINGS TO FIXED CHARGES |
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| Including interest on deposits |
2.27 | 1.16 | 1.91 | 0.69 | 0.14 | 0.89 | 1.32 | |||||||||||||||||||||
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| Excluding interest on deposits (1) |
5.85 | 0.61 | 5.86 | (1.23 | ) | (5.88 | ) | (0.26 | ) | 3.57 | ||||||||||||||||||
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| (1) | For the years ended December 31, 2010, 2009 and 2008, earnings were insufficient to cover fixed charges excluding interest on deposits by $5,744,000, $32,180,000 and $1,300,000, respectively. |