Attached files
| file | filename |
|---|---|
| 8-K - 8-K - TAYLOR CAPITAL GROUP INC | a12-26352_58k.htm |
| EX-3.1 - EX-3.1 - TAYLOR CAPITAL GROUP INC | a12-26352_5ex3d1.htm |
| EX-1.1 - EX-1.1 - TAYLOR CAPITAL GROUP INC | a12-26352_5ex1d1.htm |
| EX-5.1 - EX-5.1 - TAYLOR CAPITAL GROUP INC | a12-26352_5ex5d1.htm |
Exhibit 12.1
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
|
|
|
For the nine months |
|
For the year ended December 31, |
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|
|
|
2012 |
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2011 |
|
2011 |
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2010 |
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2009 |
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2008 |
|
2007 |
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INCLUDING INTEREST ON DEPOSITS |
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Earnings |
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|
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|
|
|
|
|
|
|
|
|
|
|
| |||||||
|
Income (loss) before income taxes |
|
$ |
67,658 |
|
$ |
9,002 |
|
$ |
18,005 |
|
$ |
(52,606 |
) |
$ |
(30,716 |
) |
$ |
(132,740 |
) |
$ |
(5,009 |
) |
|
Plus: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
|
Total Fixed Charges (See below) |
|
39,278 |
|
55,885 |
|
70,305 |
|
90,159 |
|
117,359 |
|
117,663 |
|
125,005 |
| |||||||
|
Less: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
|
Preferred stock dividends (1) |
|
(8,072 |
) |
(11,402 |
) |
(14,069 |
) |
(14,922 |
) |
(17,666 |
) |
(3,308 |
) |
— |
| |||||||
|
Total Earnings (Loss) |
|
$ |
98,864 |
|
$ |
53,485 |
|
$ |
74,241 |
|
$ |
22,631 |
|
$ |
68,977 |
|
$ |
(18,385 |
) |
$ |
119,996 |
|
|
|
|
|
|
|
|
|
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|
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Fixed Charges |
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|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
|
Total interest expense (2) |
|
$ |
29,088 |
|
$ |
42,567 |
|
$ |
53,646 |
|
$ |
72,442 |
|
$ |
97,119 |
|
$ |
112,097 |
|
$ |
122,354 |
|
|
Interest included in operating lease rental expense (3) |
|
2,118 |
|
1,917 |
|
2,590 |
|
2,795 |
|
2,574 |
|
2,258 |
|
2,651 |
| |||||||
|
Preferred stock dividends (1) |
|
8,072 |
|
11,402 |
|
14,069 |
|
14,922 |
|
17,666 |
|
3,308 |
|
— |
| |||||||
|
Total Fixed Charges |
|
$ |
39,278 |
|
$ |
55,886 |
|
$ |
70,305 |
|
$ |
90,159 |
|
$ |
117,359 |
|
$ |
117,663 |
|
$ |
125,005 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
| |||||||
|
Ratio of Earnings (Loss) to Fixed Charges |
|
2.52 |
x |
0.96 |
x |
1.06 |
x |
0.25 |
x |
0.59 |
x |
(0.16 |
)x |
0.96 |
x | |||||||
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EXCLUDING INTEREST ON DEPOSITS |
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|
Earnings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
|
Income (loss) before income taxes |
|
$ |
67,658 |
|
$ |
9,002 |
|
$ |
18,005 |
|
$ |
(52,606 |
) |
$ |
(30,716 |
) |
$ |
(132,740 |
) |
$ |
(5,009 |
) |
|
Plus: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
|
Total Fixed Charges excluding interest on deposits (See below) |
|
24,530 |
|
32,728 |
|
41,158 |
|
45,873 |
|
48,195 |
|
29,384 |
|
27,975 |
| |||||||
|
Less: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
|
Preferred stock dividends (1) |
|
(8,072 |
) |
(11,402 |
) |
(14,069 |
) |
(14,922 |
) |
(17,666 |
) |
(3,308 |
) |
— |
| |||||||
|
Total Earnings (Loss) |
|
$ |
84,116 |
|
$ |
30,328 |
|
$ |
45,094 |
|
$ |
(21,655 |
) |
$ |
(187 |
) |
$ |
(106,664 |
) |
$ |
22,966 |
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
| |||||||
|
Fixed Charges |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
|
Total interest expense (2) |
|
$ |
29,088 |
|
$ |
42,567 |
|
$ |
53,646 |
|
$ |
72,442 |
|
$ |
97,119 |
|
$ |
112,097 |
|
$ |
122,354 |
|
|
Interest included in operating lease rental expense (3) |
|
2,118 |
|
1,917 |
|
2,590 |
|
2,795 |
|
2,574 |
|
2,258 |
|
2,651 |
| |||||||
|
Preferred stock dividends (1) |
|
8,072 |
|
11,402 |
|
14,069 |
|
14,922 |
|
17,666 |
|
3,308 |
|
— |
| |||||||
|
Less: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
|
Interest expense on deposits |
|
(14,748 |
) |
(23,157 |
) |
(29,147 |
) |
(44,286 |
) |
(69,164 |
) |
(88,279 |
) |
(97,030 |
) | |||||||
|
Total Fixed Charges excluding interest on deposits |
|
$ |
24,530 |
|
$ |
32,729 |
|
$ |
41,158 |
|
$ |
45,873 |
|
$ |
48,195 |
|
$ |
29,384 |
|
$ |
27,975 |
|
|
|
|
|
|
|
|
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Ratio of Earnings (Loss) to Fixed Charges (excluding interest on deposits) |
|
3.43 |
x |
0.93 |
x |
1.10 |
x |
(0.47 |
)x |
0.0 |
x |
(3.63 |
)x |
0.82 |
x | |||||||
(1) The preferred stock dividends amount has been grossed up to compute the pre-tax income equivalent assuming an estimated 35% tax rate.
(2) Interest expense includes interest expense on deposits and other debt and amortization of debt issuance costs.
(3) Calculation of interest included in operating lease rental expense is representative of the interest factor attributable to the lease payment.