First Republic Preferred Capital (FRCCO) 10-K 2011 FY Annual report

EXHIBIT 12

FIRST REPUBLIC PREFERRED CAPITAL CORPORATION

(A Majority-Owned Subsidiary of First Republic Bank)

STATEMENT OF COMPUTATION OF

RATIOS OF EARNINGS TO FIXED CHARGES

	Year Ended		Six Months Ended				Year Ended
($ in thousands)	Dec. 31, 2011		Dec. 31, 2010		June 30, 2010		Dec. 31, 2009		Dec. 26, 2008		Dec. 28, 2007
I. Earnings:
Net income	$	17,329	$	9,314	$	7,073	$	13,887	$	15,881	$	19,410
Fixed charges excluding preferred stock dividends	—		—		—		—		—		—
Earnings before fixed charges	$	17,329	$	9,314	$	7,073	$	13,887	$	15,881	$	19,410
II. Fixed charges:
Preferred stock dividends	$	10,125	$	5,063	$	5,062	$	10,181	$	10,125	$	13,540
III. Ratios of earnings to fixed charges	1.71x		1.84x		1.40x		1.36x		1.57x		1.43x