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PACWEST BANCORP AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
| Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||
| (dollars in thousands) | ||||||||||||||||||
Earnings (loss) before income taxes | $ | (3,193 | ) | $ | (707,976 | ) | $ | 152,770 | $ | 127,368 | $ | 85,491 | $ | 60,659 | |||||
Add fixed charges | 44,206 | 73,063 | 90,001 | 63,079 | 25,419 | 16,814 | |||||||||||||
Earnings (loss) before fixed charges and income taxes | $ | 41,013 | $ | (634,913 | ) | $ | 242,771 | $ | 190,447 | $ | 110,910 | $ | 77,473 | ||||||
Fixed charges | $ | 44,206 | $ | 73,063 | $ | 90,001 | $ | 63,079 | $ | 25,419 | $ | 16,814 | |||||||
Preferred dividends | — | — | — | — | — | — | |||||||||||||
Fixed charges and preferred dividends | $ | 44,206 | $ | 73,063 | $ | 90,001 | $ | 63,079 | $ | 25,419 | $ | 16,814 | |||||||
Deficiency amount | $ | 3,193 | $ | 707,976 | $ | — | $ | — | $ | — | $ | — | |||||||
Ratio of earnings to fixed charges | 0.93 | N.M. | 2.70 | 3.02 | 4.36 | 4.61 | |||||||||||||
Ratio of earnings to fixed charges and preferred dividends | 0.93 | N.M. | 2.70 | 3.02 | 4.36 | 4.61 | |||||||||||||
- N.M.
- Not meaningful.
PACWEST BANCORP AND SUBSIDIARIES Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends