Exhibit 12
CVB Financial Corp.
Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
For the Year Ended December 31, | ||||||||||||||||||||
2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Earnings excluding interest on deposits(1): | ||||||||||||||||||||
Earnings Before Taxes | $ | 114,693 | $ | 120,804 | $ | 86,739 | $ | 89,249 | $ | 85,748 | ||||||||||
Fixed Charges | 21,247 | 28,296 | 41,946 | 65,510 | 104,869 | |||||||||||||||
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$ | 135,940 | $ | 149,100 | $ | 128,685 | $ | 154,759 | $ | 190,617 | |||||||||||
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Preferred dividends(2): | $ | — | $ | — | $ | 5,827 | $ | 774 | ||||||||||||
Fixed charges(1): | ||||||||||||||||||||
Interest on borrowings | $ | 19,361 | $ | 26,331 | $ | 39,719 | $ | 63,539 | $ | 103,038 | ||||||||||
Amortization of debt expense | — | — | — | — | 120 | |||||||||||||||
Interest portion of rental expense | 1,886 | 1,965 | 2,227 | 1,971 | 1,711 | |||||||||||||||
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$ | 21,247 | $ | 28,296 | $ | 41,946 | $ | 65,510 | $ | 104,869 | |||||||||||
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Ratio of earnings to fixed charges, excluding interest ondeposits | 6.40 | 5.27 | 3.07 | 2.36 | 1.82 | |||||||||||||||
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Ratio of earnings to fixed charges and preferreddividends, excluding interest on deposits | 6.40 | 5.27 | 3.07 | 2.27 | 1.81 | |||||||||||||||
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Earnings including interest on deposits(1): | ||||||||||||||||||||
Earnings Before Taxes | 114,693 | 120,804 | 86,739 | 89,249 | 85,748 | |||||||||||||||
Fixed Charges | 27,158 | 37,004 | 60,199 | 90,466 | 140,670 | |||||||||||||||
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141,851 | 157,808 | 146,938 | 179,715 | 226,418 | ||||||||||||||||
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Preferred dividends(2): | $ | — | $ | — | $ | — | $ | 5,827 | $ | 774 | ||||||||||
Fixed charges(1): | ||||||||||||||||||||
Interest on deposits | 5,911 | 8,708 | 18,253 | 24,956 | 35,801 | |||||||||||||||
Interest on borrowings | 19,361 | 26,331 | 39,719 | 63,539 | 103,038 | |||||||||||||||
Amortization of debt expense | — | — | — | — | 120 | |||||||||||||||
Interest portion of rental expense | 1,886 | 1,965 | 2,227 | 1,971 | 1,711 | |||||||||||||||
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27,158 | 37,004 | 60,199 | 90,466 | 140,670 | ||||||||||||||||
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Ratio of earnings to fixed charges, including interest ondeposits | 5.22 | 4.26 | 2.44 | 1.99 | 1.61 | |||||||||||||||
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Ratio of earnings to fixed charges and preferreddividends, including interest on deposits | 5.22 | 4.26 | 2.44 | 1.92 | 1.60 | |||||||||||||||
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(1) | As defined in Item 503(d) of Regulation S-K. |
(2) | The preferred dividends were increased to amounts representing the pretax earnings that would be required to cover such dividend requirements. |