EXHIBIT 12
WESBANCO, INC. | |||||||||
Computations of Consolidated Ratios of Earnings to Fixed Charges | |||||||||
(Dollars in thousands - unaudited) | |||||||||
For the three months | For the twelve months | ||||||||
ended March 31, | ended December 31, | ||||||||
2009 | 2008 | 2007 | 2006 | 2005 | 2004 | ||||
Excluding Interest on Deposits: | |||||||||
Fixed Charges: | |||||||||
Interest Expense (excluding | |||||||||
interest on deposits) | $ 9,240 | $ 36,203 | $ 27,791 | $ 30,672 | $ 34,255 | $ 20,626 | |||
Interest Factor Within Rent | |||||||||
Expense (1) | 179 | 829 | 777 | 742 | 763 | 545 | |||
Preferred Stock Dividend (2) | 1,055 | 293 | - | - | - | - | |||
Total Fixed Charges | 10,474 | 37,325 | 28,568 | 31,414 | 35,018 | 21,171 | |||
Earnings: | |||||||||
Income before Income Taxes | $ 6,201 | $ 42,610 | $ 52,690 | $ 48,298 | $ 54,479 | $ 47,158 | |||
Fixed Charges (excluding Preferred Dividends) | 9,419 | 37,032 | 28,568 | 31,414 | 35,018 | 21,171 | |||
Total Earnings | 15,620 | 79,642 | 81,258 | 79,712 | 89,497 | 68,329 | |||
Ratio of Earnings to Fixed | |||||||||
Charges, Excluding Interest | |||||||||
on Deposits | 1.49 | 2.13 | 2.84 | 2.54 | 2.56 | 3.23 | |||
Including Interest on Deposits: | |||||||||
Fixed Charges: | |||||||||
Interest Expense | $ 25,074 | $ 121,229 | $ 117,080 | $ 104,436 | $ 92,434 | $ 60,212 | |||
Interest Factor Within Rent | |||||||||
Expense (1) | 179 | 829 | 777 | 742 | 763 | 545 | |||
Preferred Stock Dividend (2) | 1,055 | 293 | - | - | - | - | |||
Total Fixed Charges | 26,308 | 122,351 | 117,857 | 105,178 | 93,197 | 60,757 | |||
Earnings: | |||||||||
Income Before Income Taxes | $ 6,201 | $ 42,610 | $ 52,690 | $ 48,298 | $ 54,479 | $ 47,158 | |||
Fixed Charges (excluding preferred dividends) | 25,253 | 122,058 | 117,857 | 105,178 | 93,197 | 60,757 | |||
Total Earnings | 31,454 | 164,668 | 170,547 | 153,476 | 147,676 | 107,915 | |||
Ratio of Earnings to Fixed | |||||||||
Charges, Including Interest on | |||||||||
Deposits | 1.20 | 1.35 | 1.45 | 1.46 | 1.58 | 1.78 | |||
(1) The portion of rents shown as representative of the interest factor is one-third of total net operating lease expenses. | |||||||||
(2) Represents the dividend accrued on the Series A Preferred Stock for the period ended March 31, 2009. |