Wintrust Financial Corporation
Form 10-K, Exhibit 12.2
Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
The following table presents the calculation of the ratio of earnings to fixed charges and preferred stock dividends for the last five years.
(dollars in thousands)
September 30, | September 30, | September 30, | September 30, | September 30, | September 30, | |||||||||||||||||||
Years ended December 31, | ||||||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||
Income before income taxes | A | $ | 128,033 | $ | 100,807 | $ | 117,504 | $ | 30,641 | $ | 83,824 | |||||||||||||
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Interest expense: | ||||||||||||||||||||||||
Interest on deposits | $ | 87,938 | $ | 123,779 | $ | 171,259 | $ | 219,437 | $ | 294,914 | ||||||||||||||
Interest on other borrowings | C | 56,478 | 53,492 | 44,479 | 50,719 | 55,093 | ||||||||||||||||||
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Total interest expense | B | $ | 144,416 | $ | 177,271 | $ | 215,738 | $ | 270,156 | $ | 350,007 | |||||||||||||
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Dividends on preferred shares (1) | D | $ | 6,592 | $ | 44,810 | $ | 27,009 | $ | 3,377 | $ | — | |||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends: | ||||||||||||||||||||||||
Including deposit interest | (A+B | ) / (B+D) | 1.80 | x | 1.25 | x | 1.37 | x | 1.10 | x | 1.24 | x | ||||||||||||
Excluding deposit interest | (A+C | ) / (C+D) | 2.93 | x | 1.57 | x | 2.27 | x | 1.50 | x | 2.52 | x |
(1) | The dividends on preferred shares were increased to amounts representing the pretax earnings that would be required to cover such dividend requirements. |