Attached files
| file | filename |
|---|---|
| EX-32.2 - EX-32.2 - FIRST BANCORP /NC/ | ex32-2.htm |
| EX-32.1 - EX-32.1 - FIRST BANCORP /NC/ | ex32-1.htm |
| EX-31.2 - EX-31.2 - FIRST BANCORP /NC/ | ex31-2.htm |
| EX-31.1 - EX-31.1 - FIRST BANCORP /NC/ | ex31-1.htm |
| EX-23 - EX-23 - FIRST BANCORP /NC/ | ex23.htm |
| EX-21 - EX-21 - FIRST BANCORP /NC/ | ex21.htm |
| EX-10.1 - EX-10.1 - FIRST BANCORP /NC/ | ex10-1.htm |
| 10-K - 10-K - FIRST BANCORP /NC/ | form10k-17207_fbnc.htm |
Exhibit 12
FIRST BANCORP
COMPUTATION OF EARNINGS TO FIXED CHARGES AND PREFERRED SHARE DIVIDENDS
($ in thousands, except for ratios)
(Unaudited)
| Years Ended December 31, | ||||||||||||||||||||
| 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||
| Including Interest on Deposits: | ||||||||||||||||||||
| Earnings: | ||||||||||||||||||||
| Income (loss) before income taxes | $ | 42,133 | 41,160 | 38,531 | 32,780 | (40,358 | ) | |||||||||||||
| Fixed charges | 8,118 | 7,304 | 8,625 | 11,345 | 17,762 | |||||||||||||||
| Total earnings (loss) | $ | 50,251 | 48,464 | 47,156 | 44,125 | (22,596 | ) | |||||||||||||
| Fixed charges: | ||||||||||||||||||||
| Interest on deposits | $ | 5,170 | 5,319 | 7,072 | 9,960 | 15,454 | ||||||||||||||
| Interest on borrowings | 2,437 | 1,589 | 1,151 | 1,025 | 1,866 | |||||||||||||||
| Amortization of debt issuance costs | — | — | — | — | — | |||||||||||||||
| Interest portion of rental expense (1) | 511 | 396 | 402 | 360 | 442 | |||||||||||||||
| Total fixed charges | $ | 8,118 | 7,304 | 8,625 | 11,345 | 17,762 | ||||||||||||||
| Preferred dividend requirements | 175 | 603 | 868 | 895 | 2,809 | |||||||||||||||
| Total fixed charges and preferred dividends | $ | 8,293 | 7,907 | 9,493 | 12,240 | 20,571 | ||||||||||||||
| Ratio of earnings (loss) to fixed charges, including interest on deposits | 6.19x | 6.64x | 5.47x | 3.89x | (1.27x | ) | ||||||||||||||
| Ratio of earnings (loss) to fixed charges and preferred dividends, including interest on deposits | 6.06x | 6.13x | 4.97x | 3.60x | (1.10x | ) | ||||||||||||||
| Excluding Interest on Deposits: | ||||||||||||||||||||
| Earnings: | ||||||||||||||||||||
| Income (loss) before income taxes | $ | 42,133 | 41,160 | 38,531 | 32,780 | (40,358 | ) | |||||||||||||
| Fixed charges | 2,948 | 1,985 | 1,553 | 1,385 | 2,308 | |||||||||||||||
| Total earnings (loss) | $ | 45,081 | 43,145 | 40,084 | 34,165 | (38,050 | ) | |||||||||||||
| Fixed charges: | ||||||||||||||||||||
| Interest on borrowings | $ | 2,437 | 1,589 | 1,151 | 1,025 | 1,866 | ||||||||||||||
| Amortization of debt issuance costs | — | — | — | — | — | |||||||||||||||
| Interest portion of rental expense (1) | 511 | 396 | 402 | 360 | 442 | |||||||||||||||
| Total fixed charges | $ | 2,948 | 1,985 | 1,553 | 1,385 | 2,308 | ||||||||||||||
| Preferred dividend requirements | 175 | 603 | 868 | 895 | 2,809 | |||||||||||||||
| Total fixed charges and preferred dividends | $ | 3,123 | 2,588 | 2,421 | 2,280 | 5,117 | ||||||||||||||
| Ratio of earnings (loss) to fixed charges, excluding interest on deposits | 15.29x | 21.74x | 25.81x | 24.67x | (16.49x | ) | ||||||||||||||
| Ratio of earnings (loss) to fixed charges and preferred dividends, excluding interest on deposits | 14.44x | 16.67x | 16.56x | 14.98x | (7.44x | ) | ||||||||||||||
| (1) | Estimated to be one-third of rental expense. |