Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - FIRST BANCORP /NC/ | Financial_Report.xls |
| EX-31.2 - EX-31.2 - FIRST BANCORP /NC/ | ex31-2.htm |
| EX-32.1 - EX-32.1 - FIRST BANCORP /NC/ | ex32-1.htm |
| EX-32.2 - EX-32.2 - FIRST BANCORP /NC/ | ex32-2.htm |
| EX-31.1 - EX-31.1 - FIRST BANCORP /NC/ | ex31-1.htm |
| 10-Q - 10-Q - FIRST BANCORP /NC/ | form10q-140067_fbnc.htm |
Exhibit 12
FIRST BANCORP
COMPUTATION OF EARNINGS TO FIXED CHARGES AND PREFERRED SHARE DIVIDENDS
($ in thousands, except for ratios)
(Unaudited)
| Six Months Ended June 30, | Years Ended December 31, | |||||||||||||||||||||||||||
| 2014 | 2013 | 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||||
| Including Interest on Deposits: | ||||||||||||||||||||||||||||
| Earnings: | ||||||||||||||||||||||||||||
| Income (loss) before income taxes | $ | 19,046 | 13,398 | 32,780 | (40,358 | ) | 21,012 | 14,942 | 97,877 | |||||||||||||||||||
| Fixed charges | 4,483 | 6,241 | 11,345 | 17,762 | 23,973 | 32,087 | 49,075 | |||||||||||||||||||||
| Total earnings (loss) | $ | 23,529 | 19,639 | 44,125 | (22,596 | ) | 44,985 | 47,029 | 146,952 | |||||||||||||||||||
| Fixed charges: | ||||||||||||||||||||||||||||
| Interest on deposits | $ | 3,741 | 5,558 | 9,960 | 15,454 | 21,351 | 29,930 | 45,518 | ||||||||||||||||||||
| Interest on borrowings | 547 | 512 | 1,025 | 1,866 | 2,214 | 1,977 | 3,377 | |||||||||||||||||||||
| Amortization of debt issuance costs | — | — | — | — | — | — | — | |||||||||||||||||||||
| Interest portion of rental expense (1) | 195 | 171 | 360 | 442 | 408 | 180 | 180 | |||||||||||||||||||||
| Total fixed charges | $ | 4,483 | 6,241 | 11,345 | 17,762 | 23,973 | 32,087 | 49,075 | ||||||||||||||||||||
| Preferred dividend requirements | 434 | 462 | 895 | 2,809 | 3,234 | 3,249 | 3,169 | |||||||||||||||||||||
| Total fixed charges and preferred dividends | $ | 4,917 | 6,703 | 12,240 | 20,571 | 27,207 | 35,336 | 52,244 | ||||||||||||||||||||
| Ratio of earnings to fixed charges, including interest on deposits | 5.25 | x | 3.15 | x | 3.89 | x | (1.27 | x) | 1.88 | x | 1.47 | x | 2.99 | x | ||||||||||||||
| Ratio of earnings to fixed charges and preferred dividends, including interest on deposits | 4.79 | x | 2.93 | x | 3.60 | x | (1.10 | x) | 1.65 | x | 1.33 | x | 2.81 | x | ||||||||||||||
| Excluding Interest on Deposits: | ||||||||||||||||||||||||||||
| Earnings: | ||||||||||||||||||||||||||||
| Income (loss) before income taxes | $ | 19,046 | 13,398 | 32,780 | (40,358 | ) | 21,012 | 14,942 | 97,877 | |||||||||||||||||||
| Fixed charges | 742 | 683 | 1,385 | 2,308 | 2,622 | 2,157 | 3,557 | |||||||||||||||||||||
| Total earnings (loss) | $ | 19,788 | 14,081 | 34,165 | (38,050 | ) | 23,634 | 17,099 | 101,434 | |||||||||||||||||||
| Fixed charges: | ||||||||||||||||||||||||||||
| Interest on borrowings | $ | 547 | 512 | 1,025 | 1,866 | 2,214 | 1,977 | 3,377 | ||||||||||||||||||||
| Amortization of debt issuance costs | — | — | — | — | — | — | — | |||||||||||||||||||||
| Interest portion of rental expense (1) | 195 | 171 | 360 | 442 | 408 | 180 | 180 | |||||||||||||||||||||
| Total fixed charges | $ | 742 | 683 | 1,385 | 2,308 | 2,622 | 2,157 | 3,557 | ||||||||||||||||||||
| Preferred dividend requirements | 434 | 462 | 895 | 2,809 | 3,234 | 3,249 | 3,169 | |||||||||||||||||||||
| Total fixed charges and preferred dividends | $ | 1,176 | 1,145 | 2,280 | 5,117 | 5,856 | 5,406 | 6,726 | ||||||||||||||||||||
| Ratio of earnings to fixed charges, excluding interest on deposits | 26.67 | x | 20.62 | x | 24.67 | x | (16.49 | x) | 9.01 | x | 7.93 | x | 28.52 | x | ||||||||||||||
| Ratio of earnings to fixed charges and preferred dividends, excluding interest on deposits | 16.83 | x | 12.30 | x | 14.98 | x | (7.44 | x) | 4.04 | x | 3.16 | x | 15.08 | x | ||||||||||||||
| (1) | Estimated to be one-third of rental expense. |