EXHIBIT 12
PEOPLES BANCORP INC. ANNUAL REPORT ON FORM 10-K
FOR FISCAL YEAR ENDED DECEMBER 31, 2009
STATEMENTS REGARDING COMPUTATION OF CONSOLIDATED RATIOS OF
EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
APPEARING IN ANNUAL REPORT ON FORM 10-K
Year Ended December 31, | |||||
(Dollars in thousands) | 2009 | 2008 | 2007 | ||
Excluding Interest on Deposits: | |||||
Earnings: | |||||
Income before income taxes | $ 3,126 | $ 7,615 | $ 23,875 | ||
Fixed charges (excluding preferred stock dividends) | 14,439 | 16,684 | 22,772 | ||
Total earnings | 17,565 | 24,299 | 46,647 | ||
Fixed charges: | |||||
Interest expense (excluding deposit interest) | 14,139 | 16,438 | 22,523 | ||
Rent expense interest factor (1) | 300 | 246 | 249 | ||
Preferred stock dividends (2) | 1,877 | – | – | ||
Total fixed charges (excluding deposit interest) | 16,316 | 16,684 | 22,772 | ||
Ratio of Earnings to Fixed Charges, | |||||
Excluding Interest on Deposits | 1.08 | 1.46 | 2.05 | ||
Including Interest on Deposits: | |||||
Earnings: | |||||
Income before income taxes | $ 3,126 | $ 7,615 | $ 23,875 | ||
Fixed charges (excluding preferred stock dividends) | 40,563 | 47,994 | 59,747 | ||
Total earnings | 43,689 | 55,609 | 83,622 | ||
Fixed charges: | |||||
Interest expense (including deposit interest) | 40,262 | 47,748 | 59,498 | ||
Rent expense interest factor (1) | 300 | 246 | 249 | ||
Preferred stock dividends (2) | 1,877 | – | – | ||
Total fixed charges (including deposit interest) | 42,439 | 47,994 | 59,747 | ||
Ratio of Earnings to Fixed Charges, | |||||
Including Interest on Deposits | 1.03 | 1.16 | 1.40 |
(1) | Represents one-third of gross rental expense, which management believes is representative of the interest factor. |
(2) | Represents the dividends accrued on the Series A Preferred Shares during the period. |