First BanCorp. (FBP) 10-K2015 FY Annual report

Filed: 14 Mar 16, 12:00am

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Readability	H.S. junior Bad

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Removed: accessing, Aqueduct, attain, balanced, carryover, certified, collaboration, collectibility, Concurrent, confirming, consult, correct, correction, creation, curbing, cushion, danger, death, deducting, defining, differential, disability, disputed, district, driver, effected, electricity, erroneously, examined, fewer, filling, FR, generating, Gorda, inappropriately, inconsistent, indentified, inform, intercepted, investee, judge, kind, lowering, matured, merger, nonhedging, noninterest, oil, outlook, packaged, passthrough, permitting, planned, powered, preclude, proportionate, quickly, reentered, reflective, refraining, Registry, rendered, renewing, REO, reorganization, resolve, rolling, securitizing, Sewer, side, slight, smaller, speak, stemmed, story, successfully, surtax, tandem, tightening, transit, unaccreted, unclear, undue, vacant, word

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		Exhibit 12.1

First BanCorp.
Computation of Ratio of Earnings to Fixed Charges

	Year Ended
	December 31, 2015

Including Interest on Deposits
Earnings:
Pre-tax income from continuing operations	$	27,716
Plus:
Fixed Charges (excluding capitalized interest)		106,934

Total earnings	$	134,650

Fixed Charges:
Interest expensed and capitalized	$	103,303
An estimate of the interest component within rental expense		3,631
Total Fixed Charges	$	106,934
Ratio of Earnings to Fixed Charges		1.26

Excluding Interest on Deposits
Earnings:
Pre-tax income from continuing operations	$	27,716
Plus:
Fixed Charges (excluding capitalized interest)		37,684

Total earnings	$	65,400

Fixed Charges:
Interest expensed and capitalized	$	34,053
An estimate of the interest component within rental expense		3,631

Total Fixed Charges	$	37,684

Ratio of Earnings to Fixed Charges		1.74

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