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| Exhibit 12.2 |
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First BanCorp | |||
Computation of Ratio of Earnings to Fixed Charges and Preference Dividends | |||
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| Quarter Ended | |
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| March 31, 2014 | |
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Including Interest on Deposits |
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Earnings: |
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Pre-tax income from continuing operations |
| $ | 17,970 |
Plus: |
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Fixed Charges (excluding capitalized interest) |
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| 30,218 |
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Total earnings |
| $ | 48,188 |
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Fixed Charges: |
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Interest expensed and capitalized |
| $ | 29,251 |
An estimate of the interest component within rental expense |
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| 967 |
Total fixed charges before preferred dividends |
| $ | 30,218 |
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Preferred dividends |
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| - |
Ratio of pre tax income to net income |
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| 1.050 |
Preferred dividend factor |
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| - |
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Total fixed charges and preferred stock dividends |
| $ | 30,218 |
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
| 1.59 | |
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Excluding Interest on Deposits |
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Earnings: |
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Pre-tax income from continuing operations |
| $ | 17,970 |
Plus: |
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Fixed Charges (excluding capitalized interest) |
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| 9,919 |
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Total earnings |
| $ | 27,889 |
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Fixed Charges: |
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Interest expensed and capitalized |
| $ | 8,952 |
An estimate of the interest component within rental expense |
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| 967 |
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Total Fixed Charges before preferred dividends |
| $ | 9,919 |
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Preferred dividends |
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| - |
Ratio of pre tax income to net income |
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| 1.050 |
Preferred dividend factor |
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| - |
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Total fixed charges and preferred stock dividends |
| $ | 9,919 |
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
| 2.81 | |
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