Peoples Bancorp (PEBO) 10-Q 2012 Q2 Quarterly report

EXHIBIT 12

STATEMENTS REGARDING COMPUTATION OF CONSOLIDATED RATIOS OF

EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

APPEARING IN QUARTERLY REPORT ON FORM 10-Q

	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2012		2011		2012		2011
Excluding Interest on Deposits:
Earnings:
Income before income taxes	$	7,134	$	5,806	$	24,371	$	11,974
Fixed charges (excluding preferred stock dividends)	1,535		1,884		4,767		5,710
Total earnings	8,669		7,690		29,138		17,684
Fixed charges:
Interest expense (excluding deposit interest)	1,450		1,804		4,523		5,477
Rent expense interest factor (1)	85		80		244		233
Preferred stock dividends (2)	—		237		—		998
Total fixed charges (excluding deposit interest)	1,535		2,121		4,767		6,708
Ratio of Earnings to Fixed Charges,
Excluding Interest on Deposits	5.65		3.63		6.11		2.64
Including Interest on Deposits:
Earnings:
Income before income taxes	$	7,134	$	5,806	$	24,371	$	11,974
Fixed charges (excluding preferred stock dividends)	3,706		5,215		11,774		16,700
Total earnings	10,840		11,021		36,145		28,674
Fixed charges:
Interest expense (including deposit interest)	3,621		5,136		11,530		16,468
Rent expense interest factor (1)	85		80		244		233
Preferred stock dividends (2)	—		237		—		998
Total fixed charges (including deposit interest)	3,706		5,453		11,774		17,699
Ratio of Earnings to Fixed Charges,
Including Interest on Deposits	2.92		2.02		3.07		1.62

(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.