|
|
| Exhibit 12.2 |
|
|
|
|
First BanCorp | |||
Computation of Ratio of Earnings to Fixed Charges and Preference Dividends | |||
|
|
|
|
|
| Quarter Ended | |
|
| March 31, 2015 | |
|
|
| |
Including Interest on Deposits |
|
|
|
Earnings: |
|
|
|
Pre-tax income from continuing operations |
| $ | 33,678 |
Plus: |
|
|
|
Fixed Charges (excluding capitalized interest) |
|
| 27,727 |
|
|
|
|
Total earnings |
| $ | 61,405 |
|
|
|
|
Fixed Charges: |
|
|
|
Interest expensed and capitalized |
| $ | 26,838 |
An estimate of the interest component within rental expense |
|
| 889 |
Total fixed charges before preferred dividends |
| $ | 27,727 |
|
|
|
|
Preferred dividends |
|
| - |
Ratio of pre tax income to net income |
|
| 1.31 |
Preferred dividend factor |
|
| - |
|
|
|
|
Total fixed charges and preferred stock dividends |
| $ | 27,727 |
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
| 2.21 | |
|
|
|
|
Excluding Interest on Deposits |
|
|
|
Earnings: |
|
|
|
Pre-tax income from continuing operations |
| $ | 33,678 |
Plus: |
|
|
|
Fixed Charges (excluding capitalized interest) |
|
| 10,033 |
|
|
|
|
Total earnings |
| $ | 43,711 |
|
|
|
|
Fixed Charges: |
|
|
|
Interest expensed and capitalized |
| $ | 9,144 |
An estimate of the interest component within rental expense |
|
| 889 |
|
|
|
|
Total Fixed Charges before preferred dividends |
| $ | 10,033 |
|
|
|
|
Preferred dividends |
|
| - |
Ratio of pre tax income to net income |
|
| 1.31 |
Preferred dividend factor |
|
| - |
|
|
|
|
Total fixed charges and preferred stock dividends |
| $ | 10,033 |
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
| 4.36 | |
|
|
|
|
|
|
|
|