Exhibit 12.1
Pinnacle Financial Partners, Inc.
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
Three Months Ended | ||||||||||||||||||||||||||||
March 31, 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense — deposits | $ | 17,734 | $ | 76,998 | $ | 61,672 | $ | 40,032 | $ | 13,691 | $ | 5,829 | $ | 4,349 | ||||||||||||||
Interest expense — other borrowings | $ | 3,076 | $ | 14,855 | $ | 13,536 | $ | 8,698 | $ | 3,567 | $ | 1,573 | $ | 1,014 | ||||||||||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness | $ | 9 | $ | 14 | $ | 12 | $ | 12 | $ | 12 | $ | 12 | $ | — | ||||||||||||||
Interest expense — rentals | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
TARP preferred stock dividends (pretax) | $ | 1,695 | $ | 370 | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Preference dividend requirements of consolidated subsidiaries | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Total fixed charges: | $ | 22,514 | $ | 92,237 | $ | 75,220 | $ | 48,742 | $ | 17,270 | $ | 7,414 | $ | 5,363 | ||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Pretax earnings | $ | 2,983 | $ | 43,241 | $ | 33,034 | $ | 26,383 | $ | 11,248 | $ | 7,491 | $ | 3,980 | ||||||||||||||
Fixed charges above | $ | 22,514 | $ | 92,237 | $ | 75,220 | $ | 48,742 | $ | 17,270 | $ | 7,414 | $ | 5,363 | ||||||||||||||
Amortization of capitalized interest | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Distributed income of equity investees | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Pretax losses of equity investees for which charges arising from guarantees are included in fixed charges | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Less: | ||||||||||||||||||||||||||||
Interest capitalized | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Preference securities dividend requirements of consolidated subsidiaries | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Minority interest in pre-tax inocme of subsidiaries that have not incurred fixed charges | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Total earnings | $ | 25,497 | $ | 135,478 | $ | 108,254 | $ | 75,125 | $ | 28,518 | $ | 14,905 | $ | 9,343 | ||||||||||||||
Ratio of earnings to combined fixed charges and preferred dividends: | ||||||||||||||||||||||||||||
Excluding interest on deposits | 162 | % | 384 | % | 344 | % | 403 | % | 414 | % | 573 | % | 493 | % | ||||||||||||||
Including interest on deposits | 113 | % | 147 | % | 144 | % | 154 | % | 165 | % | 201 | % | 174 | % | ||||||||||||||
Ratio of earnings to fixed charges (excludes preferred dividends): | ||||||||||||||||||||||||||||
Excluding interest on deposits | 197 | % | 391 | % | 344 | % | 403 | % | 414 | % | 573 | % | 493 | % | ||||||||||||||
Including interest on deposits | 114 | % | 147 | % | 144 | % | 154 | % | 165 | % | 201 | % | 174 | % |