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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, 2016 | |
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Including Interest on Deposits |
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Earnings: |
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Pre-tax income from continuing operations |
| $ | 29,067 |
Plus: |
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Fixed Charges (excluding capitalized interest) |
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| 27,141 |
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Total earnings |
| $ | 56,208 |
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Fixed Charges: |
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Interest expensed and capitalized |
| $ | 26,183 |
An estimate of the interest component within rental expense |
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| 958 |
Total fixed charges before preferred dividends |
| $ | 27,141 |
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Preferred dividends |
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| - |
Ratio of pre tax income to net income |
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| 1.25 |
Preferred dividend factor |
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| - |
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Total fixed charges and preferred stock dividends |
| $ | 27,141 |
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
| 2.07 | |
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Excluding Interest on Deposits |
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Earnings: |
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Pre-tax income from continuing operations |
| $ | 29,067 |
Plus: |
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Fixed Charges (excluding capitalized interest) |
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| 9,884 |
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Total earnings |
| $ | 38,951 |
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Fixed Charges: |
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Interest expensed and capitalized |
| $ | 8,926 |
An estimate of the interest component within rental expense |
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| 958 |
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Total Fixed Charges before preferred dividends |
| $ | 9,884 |
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Preferred dividends |
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| - |
Ratio of pre tax income to net income |
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| 1.25 |
Preferred dividend factor |
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| - |
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Total fixed charges and preferred stock dividends |
| $ | 9,884 |
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
| 3.94 | |
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