Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - FIRST BANCORP /PR/ | d325061d10q.htm |
| EX-31.2 - EX-31.2 - FIRST BANCORP /PR/ | d325061dex312.htm |
| EX-10.1 - EX-10.1 - FIRST BANCORP /PR/ | d325061dex101.htm |
| EX-32.1 - EX-32.1 - FIRST BANCORP /PR/ | d325061dex321.htm |
| EX-12.1 - EX-12.1 - FIRST BANCORP /PR/ | d325061dex121.htm |
| EX-31.1 - EX-31.1 - FIRST BANCORP /PR/ | d325061dex311.htm |
| EX-10.2 - EX-10.2 - FIRST BANCORP /PR/ | d325061dex102.htm |
| EX-10.3 - EX-10.3 - FIRST BANCORP /PR/ | d325061dex103.htm |
| EX-32.2 - EX-32.2 - FIRST BANCORP /PR/ | d325061dex322.htm |
EXHIBIT 12.2
First BanCorp
Computation of Ratio of Earnings to Fixed Charges and Preference Dividends
| Six-Month Period Ended June 30, 2012 |
||||
| Including Interest on Deposits |
||||
| Earnings: |
||||
| Pre-tax loss from continuing operations |
$ | (148 | ) | |
| Plus: |
||||
| Fixed Charges (excluding capitalized interest) |
97,265 | |||
|
|
|
|||
| Total Earnings |
$ | 97,117 | ||
|
|
|
|||
| Fixed Charges: |
||||
| Interest expensed and capitalized |
$ | 95,675 | ||
| Amortized premiums, discounts, and capitalized expenses related to indebtedness |
3 | |||
| An estimate of the interest component within rental expense |
1,587 | |||
|
|
|
|||
| Total Fixed Charges before preferred dividends |
97,265 | |||
|
|
|
|||
| Preferred dividends |
— | |||
| Ratio of pre tax income to net income |
1.000 | |||
|
|
|
|||
| Preferred dividend factor |
— | |||
|
|
|
|||
| Total fixed charges and preferred stock dividends |
$ | 97,265 | ||
|
|
|
|||
| Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
(A) | |||
| Excluding Interest on Deposits |
||||
| Earnings: |
||||
| Pre-tax loss from continuing operations |
$ | (148 | ) | |
| Plus: |
||||
| Fixed Charges (excluding capitalized interest) |
27,042 | |||
|
|
|
|||
| Total Losses |
$ | 26,894 | ||
|
|
|
|||
| Fixed Charges: |
||||
| Interest expensed and capitalized |
$ | 25,452 | ||
| Amortized premiums, discounts, and capitalized expenses related to indebtedness |
3 | |||
| An estimate of the interest component within rental expense |
1,587 | |||
|
|
|
|||
| Total Fixed Charges before preferred dividends |
27,042 | |||
|
|
|
|||
| Preferred dividends |
— | |||
| Ratio of pre tax income to net income |
1.000 | |||
|
|
|
|||
| Preferred dividend factor |
— | |||
|
|
|
|||
| Total fixed charges and preferred stock dividends |
$ | 27,042 | ||
|
|
|
|||
| Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
(A) | |||
| (A) | For June 30, 2012, the ratio coverage was less than 1:1. The Corporation would have to generate additional earnings of $0.1 million to achieve a ratio of 1:1 for the six-month period ended June 30, 2012. |