Exhibit 12
CVB Financial Corp.
Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
For the Year ended December 31, | ||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Earnings excluding interest on deposits(1): | ||||||||||||||||||||
Earnings Before Taxes | $ | 120,804 | $ | 86,739 | $ | 89,249 | $ | 85,748 | $ | 83,063 | ||||||||||
Fixed Charges | 28,296 | 41,946 | 65,510 | 104,869 | 112,395 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
$ | 149,100 | $ | 128,685 | $ | 154,759 | $ | 190,617 | $ | 195,458 | |||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Preferred Dividends(2): | $ | — | $ | — | $ | 5,827 | $ | 774 | $ | — | ||||||||||
Fixed charges(1): | ||||||||||||||||||||
Interest on borrowings | $ | 26,331 | $ | 39,719 | $ | 63,539 | $ | 103,038 | $ | 110,838 | ||||||||||
Amortization of debt expense | 0 | 0 | 0 | 120 | 120 | |||||||||||||||
Interest portion of rental expense | 1,965 | 2,227 | 1,971 | 1,711 | 1,437 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
$ | 28,296 | $ | 41,946 | $ | 65,510 | $ | 104,869 | $ | 112,395 | |||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratio of earnings to fixed charges | 5.27 | 3.07 | 2.36 | 1.82 | 1.74 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratio of earnings to fixed charges and preferred dividends | 5.27 | 3.07 | 2.27 | 1.81 | 1.74 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Earnings including interest on deposits(1): | ||||||||||||||||||||
Earnings Before Taxes | 120,804 | 86,739 | 89,249 | 85,748 | 83,063 | |||||||||||||||
Fixed Charges | 37,004 | 60,199 | 90,466 | 140,670 | 181,692 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
157,808 | 146,938 | 179,715 | 226,418 | 264,755 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Preferred Dividends(2): | $ | — | $ | — | $ | 5,827 | $ | 774 | $ | — | ||||||||||
Fixed charges(1): | ||||||||||||||||||||
Interest on deposits | 8,708 | 18,253 | 24,956 | 35,801 | 69,297 | |||||||||||||||
Interest on borrowings | 26,331 | 39,719 | 63,539 | 103,038 | 110,838 | |||||||||||||||
Amortization of debt expense | 0 | 0 | 0 | 120 | 120 | |||||||||||||||
Interest portion of rental expense | 1,965 | 2,227 | 1,971 | 1,711 | 1,437 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
37,004 | 60,199 | 90,466 | 140,670 | 181,692 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratio of earnings to fixed charges | 4.26 | 2.44 | 1.99 | 1.61 | 1.46 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratio of earnings to fixed charges and preferred dividends | 4.26 | 2.44 | 1.92 | 1.60 | 1.46 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
(1) | As defined in Item 503(d) of Regulation S-K. |
(2) | The prefered dividends were increased to amounts representing the pretax earnings that would be required to cover such dividend requirements. |