Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - FULTON FINANCIAL CORP | d938857d8k.htm |
| EX-99.1 - EX-99.1 - FULTON FINANCIAL CORP | d938857dex991.htm |
Exhibit 12.1
Statement Re: Computation of Ratio of Earnings to Fixed Charges
(Dollars in Thousands)
| For the Three Months Ended March 31, |
For the Year Ended December 31, | |||||||||||||||||||||||||||
| 2015 | 2014 | 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||
| Income before income taxes |
$ | 53,540 | $ | 56,017 | $ | 210,500 | $ | 212,925 | $ | 217,446 | $ | 196,411 | $ | 172,741 | ||||||||||||||
| Interest expense, including interest on deposits |
22,191 | 19,227 | 81,211 | 82,495 | 103,168 | 133,538 | 186,627 | |||||||||||||||||||||
| Amortization of debt discount(premium) and expenses, including amounts capitalized |
150 | 83 | 334 | 315 | 297 | 280 | 265 | |||||||||||||||||||||
| Estimated interest component of net rental expense (1) |
1,487 | 1,472 | 5,932 | 6,202 | 6,301 | 6,026 | 5,898 | |||||||||||||||||||||
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| Earnings |
$ | 77,368 | $ | 76,799 | $ | 297,976 | $ | 301,937 | $ | 327,212 | $ | 336,255 | $ | 365,531 | ||||||||||||||
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| Interest expense, including interest on deposits |
$ | 22,191 | $ | 19,227 | $ | 81,211 | $ | 82,495 | $ | 103,168 | $ | 133,538 | $ | 186,627 | ||||||||||||||
| Amortization of debt discount(premium) and expenses, including amounts capitalized |
150 | 83 | 334 | 315 | 297 | 280 | 265 | |||||||||||||||||||||
| Estimated interest component of net rental expense (1) |
1,487 | 1,472 | 5,932 | 6,202 | 6,301 | 6,026 | 5,898 | |||||||||||||||||||||
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| Fixed Charges, excluding preferred stock dividends and discount accretion |
23,828 | 20,782 | 87,476 | 89,012 | 109,766 | 139,844 | 192,790 | |||||||||||||||||||||
| Preferred stock dividends and discount accretion |
— | — | — | — | — | — | 16,303 | |||||||||||||||||||||
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| Interest, including amounts capitalized |
22,191 | 19,227 | 81,211 | 82,495 | 103,168 | 133,538 | 186,627 | |||||||||||||||||||||
| Amortization of debt discount(premium) and expenses, including amounts capitalized |
150 | 83 | 334 | 315 | 297 | 280 | 265 | |||||||||||||||||||||
| Interest factor of rental expense (1) |
1,487 | 1,472 | 5,932 | 6,202 | 6,301 | 6,026 | 5,898 | |||||||||||||||||||||
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| Fixed Charges, excluding preferred stock dividends and discount accretion |
23,828 | 20,782 | 87,476 | 89,012 | 109,766 | 139,844 | 192,790 | |||||||||||||||||||||
| Preferred Dividend requirements |
— | — | — | — | — | — | 16,303 | |||||||||||||||||||||
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| Fixed Charges, including preferred stock dividends and discount accretion |
$ | 23,828 | $ | 20,782 | $ | 87,476 | $ | 89,012 | $ | 109,766 | $ | 139,844 | $ | 209,093 | ||||||||||||||
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| Less Interest on Deposits |
(9,823 | ) | (7,897 | ) | (35,110 | ) | (36,770 | ) | (56,895 | ) | (83,083 | ) | (122,359 | ) | ||||||||||||||
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| Fixed Charges, excluding Interest on Deposits |
14,005 | 12,886 | 52,366 | 52,241 | 52,871 | 56,761 | 86,734 | |||||||||||||||||||||
| Consolidated Ratio of Earnings to Fixed Charges (including interest on deposits) |
3.25 | 3.70 | 3.41 | 3.39 | 2.98 | 2.40 | 1.90 | |||||||||||||||||||||
| Consolidated Ratio of Earnings to Combined Fixed Charges and Preference Dividends (including interest on deposits) |
3.25 | 3.70 | 3.41 | 3.39 | 2.98 | 2.40 | 1.75 | |||||||||||||||||||||
| Income before income taxes |
$ | 53,540 | $ | 56,017 | $ | 210,500 | $ | 212,925 | $ | 217,446 | $ | 196,411 | $ | 172,741 | ||||||||||||||
| Interest expense, excluding interest on deposits |
12,368 | 11,330 | 46,101 | 45,725 | 46,273 | 50,455 | 64,268 | |||||||||||||||||||||
| Amortization of debt discount(premium) and expenses, including amounts capitalized |
150 | 83 | 334 | 315 | 297 | 280 | 265 | |||||||||||||||||||||
| Estimated interest component of net rental expense (1) |
1,487 | 1,472 | 5,932 | 6,202 | 6,301 | 6,026 | 5,898 | |||||||||||||||||||||
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| Earnings |
$ | 67,545 | $ | 68,903 | $ | 262,866 | $ | 265,166 | $ | 270,317 | $ | 253,172 | $ | 243,172 | ||||||||||||||
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| Interest expense, excluding interest on deposits |
12,368 | 11,330 | 46,101 | 45,725 | 46,273 | 50,455 | 64,268 | |||||||||||||||||||||
| Amortization of debt discount(premium) and expenses, including amounts capitalized |
150 | 83 | 334 | 315 | 297 | 280 | 265 | |||||||||||||||||||||
| Estimated interest component of net rental expense (1) |
1,487 | 1,472 | 5,932 | 6,202 | 6,301 | 6,026 | 5,898 | |||||||||||||||||||||
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| Fixed Charges, excluding preferred stock dividends and discount accretion |
14,005 | 12,886 | 52,366 | 52,241 | 52,871 | 56,761 | 70,431 | |||||||||||||||||||||
| Preferred stock dividends and discount accretion |
— | — | — | — | — | — | 16,303 | |||||||||||||||||||||
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| Fixed Charges, including preferred stock dividends and discount accretion |
$ | 14,005 | $ | 12,886 | $ | 52,366 | $ | 52,241 | $ | 52,871 | $ | 56,761 | $ | 86,734 | ||||||||||||||
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| Consolidated Ratio of Earnings to Fixed Charges (excluding interest on deposits) |
4.82 | 5.35 | 5.02 | 5.08 | 5.11 | 4.46 | 3.45 | |||||||||||||||||||||
| Consolidated Ratio of Earnings to Combined Fixed Charges and Preference Dividends (excluding interest on deposits) |
4.82 | 5.35 | 5.02 | 5.08 | 5.11 | 4.46 | 2.80 | |||||||||||||||||||||
| (1) | Represents one-third of total rent expense |