Section 6: EX-12.2 (EX-12.2) |
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| Exhibit 12.2 |
First BanCorp | |||
Computation of Ratio of Earnings to Fixed Charges and Preference Dividends | |||
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| Year Ended | |
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| December 31, 2014 | |
Including Interest on Deposits |
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Earnings: |
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Pre-tax income from continuing operations |
| $ | 91,638 |
Plus: |
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Fixed Charges (excluding capitalized interest) |
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| 119,423 |
Total earnings |
| $ | 211,061 |
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Fixed Charges: |
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Interest expensed and capitalized |
| $ | 115,876 |
An estimate of the interest component within rental expense |
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| 3,547 |
Total fixed charges before preferred dividends |
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| 119,423 |
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Preferred dividends |
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| - |
Ratio of pre tax income to net income |
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| 0.23 |
Preferred dividend factor |
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| - |
Total fixed charges and preferred stock dividends |
| $ | 119,423 |
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
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| 1.77 |
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Excluding Interest on Deposits |
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Earnings: |
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Pre-tax income from continuing operations |
| $ | 91,638 |
Plus: |
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Fixed Charges (excluding capitalized interest) |
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| 41,296 |
Total earnings |
| $ | 132,934 |
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Fixed Charges: |
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Interest expensed and capitalized |
| $ | 37,749 |
An estimate of the interest component within rental expense |
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| 3,547 |
Total Fixed Charges before preferred dividends |
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| 41,296 |
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Preferred dividends |
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| - |
Ratio of pre tax income to net income |
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| 0.23 |
Preferred dividend factor |
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| - |
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Total fixed charges and preferred stock dividends |
| $ | 41,296 |
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
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| 3.22 |