Exhibit 12.1
Pinnacle Financial Partners, Inc.
Ratio of Combined Fixed Charges and Preference Dividends to Earnings
(in thousands)
| Nine- months ended 9/30/16 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense — deposits | $ | 16,615 | $ | 13,209 | $ | 9,953 | $ | 11721 | $ | 16,843 | $ | 30,588 | ||||||||||||
Interest expense — other borrowings | $ | 9,920 | $ | 5,327 | $ | 3,231 | $ | 3663 | $ | 5,713 | $ | 6,294 | ||||||||||||
Interest expense — rentals | $ | 69 | $ | 0 | $ | 0 | $ | — | $ | — | $ | — | ||||||||||||
TARP preferred stock dividends (pretax) | $ | — | $ | — | $ | — | $ | — | $ | 2,479 | $ | 3,002 | ||||||||||||
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Total fixed charges: | $ | 26,604 | $ | 18,536 | $ | 13,184 | $ | 15,384 | $ | 25,035 | $ | 39,884 | ||||||||||||
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Earnings: | ||||||||||||||||||||||||
Pretax earnings | $ | 137,039 | $ | 143,098 | $ | 105,653 | $ | 85,884 | $ | 62,527 | $ | 28,500 | ||||||||||||
Fixed charges above | $ | 26,604 | $ | 18,536 | $ | 13,184 | $ | 15,384 | $ | 25,035 | $ | 39,884 | ||||||||||||
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Total earnings | $ | 163,643 | $ | 161,634 | $ | 118,837 | $ | 101,268 | $ | 87,562 | $ | 68,384 | ||||||||||||
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Ratio of earnings to combined fixed charges and preferred dividends: | ||||||||||||||||||||||||
Excluding interest on deposits | 14.72x | 27.86x | 33.70x | 24.45x | 8.63x | 4.07x | ||||||||||||||||||
Including interest on deposits | 6.15x | 8.72x | 9.01x | 6.58x | 3.50x | 1.71x | ||||||||||||||||||
Ratio of earnings to fixed charges (excludes preferred dividends): | ||||||||||||||||||||||||
Excluding interest on deposits | 14.72x | 27.86x | 33.70x | 24.45x | 11.94x | 5.53x | ||||||||||||||||||
Including interest on deposits | 6.15x | 8.72x | 9.01x | 6.58x | 3.77x | 1.77x | ||||||||||||||||||
