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| Exhibit 12.1 |
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| First BanCorp | |||
| Computation of Ratio of Earnings to Fixed Charges | |||
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| Six-Month Period Ended | |
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| June 30, 2016 | |
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| Including Interest on Deposits |
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| Earnings: |
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| Pre-tax income from continuing operations |
| $ | 58,543 |
| Plus: |
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| Fixed Charges (excluding capitalized interest) |
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| 54,737 |
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| Total earnings |
| $ | 113,280 |
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| Fixed Charges: |
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| Interest expensed and capitalized |
| $ | 52,889 |
| An estimate of the interest component within rental expense |
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| 1,848 |
| Total Fixed Charges |
| $ | 54,737 |
| Ratio of Earnings to Fixed Charges |
| 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 |
| $ | 58,543 |
| Plus: |
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| Fixed Charges (excluding capitalized interest) |
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| 20,256 |
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| Total earnings |
| $ | 78,799 |
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| Fixed Charges: |
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| Interest expensed and capitalized |
| $ | 18,408 |
| An estimate of the interest component within rental expense |
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| 1,848 |
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| Total Fixed Charges |
| $ | 20,256 |
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| Ratio of Earnings to Fixed Charges |
| 3.89 | |
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