EXHIBIT 12
PEOPLES BANCORP INC. ANNUAL REPORT ON FORM 10-K
FOR FISCAL YEAR ENDED DECEMBER 31, 2010
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) | 2010 | 2009 | 2008 |
Excluding Interest on Deposits: | |||
Earnings: | |||
Income before income taxes | $ 5,754 | $ 3,126 | $ 7,615 |
Fixed charges (excluding preferred stock dividends) | 10,616 | 14,439 | 16,684 |
Total earnings | 16,370 | 17,565 | 24,299 |
Fixed charges: | |||
Interest expense (excluding deposit interest) | 10,311 | 14,139 | 16,438 |
Rent expense interest factor (1) | 306 | 300 | 246 |
Preferred stock dividends (2) | 2,052 | 1,877 | – |
Total fixed charges (excluding deposit interest) | 12,669 | 16,316 | 16,684 |
Ratio of Earnings to Fixed Charges, | |||
Excluding Interest on Deposits | 1.29 | 1.08 | 1.46 |
Including Interest on Deposits: | |||
Earnings: | |||
Income before income taxes | $ 5,754 | $ 3,126 | $ 7,615 |
Fixed charges (excluding preferred stock dividends) | 29,739 | 40,563 | 47,994 |
Total earnings | 35,493 | 43,689 | 55,609 |
Fixed charges: | |||
Interest expense (including deposit interest) | 29,433 | 40,262 | 47,748 |
Rent expense interest factor (1) | 306 | 300 | 246 |
Preferred stock dividends (2) | 2,052 | 1,877 | – |
Total fixed charges (including deposit interest) | 31,791 | 42,439 | 47,994 |
Ratio of Earnings to Fixed Charges, | |||
Including Interest on Deposits | 1.12 | 1.03 | 1.16 |
(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. |