Exhibit 12
FIRSTMERIT CORPORATION | ||||||||||||||||
Computations of Consolidated Ratios of Earnings to Fixed Charges (unaudited) | ||||||||||||||||
Year Ended December 31, | ||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||
Excluding Interest on Deposits: | ||||||||||||||||
Fixed Charges: | ||||||||||||||||
Interest Expense (excluding interest on deposits) | $ | 18,420 | $ | 5,580 | $ | 9,639 | $ | 18,475 | $ | 32,081 | ||||||
Interest Factor Within Rent Expense (a) | 4,122 | 2,669 | 2,366 | 2,661 | 1,870 | |||||||||||
Total Fixed Charges | 22,542 | 8,249 | 12,005 | 21,136 | 33,951 | |||||||||||
Preferred Stock dividends | 5,537 | — | — | — | 1,789 | |||||||||||
Total Fixed Charges and Preferred Stock Dividends | $ | 28,079 | $ | 8,249 | $ | 12,005 | $ | 21,136 | $ | 35,740 | ||||||
Earnings: | ||||||||||||||||
Income Before Income Taxes | $ | 260,110 | $ | 187,123 | $ | 165,651 | 140,000 | $ | 107,815 | |||||||
Fixed Charges - Excluding Preferred Stock Dividends | 22,542 | 8,249 | 12,005 | 21,136 | 33,951 | |||||||||||
Total Earnings | $ | 282,652 | $ | 195,372 | $ | 177,656 | $ | 161,136 | $ | 141,766 | ||||||
Ratio of Earnings to Fixed Charges, | ||||||||||||||||
Excluding Interest on Deposits | 12.54 | 23.68 | 14.80 | 7.62 | 4.18 | |||||||||||
Ratio of Earnings to Combined Fixed Charges, | ||||||||||||||||
Excluding Interest on Deposits | 10.07 | 23.68 | 14.80 | 7.62 | 3.97 | |||||||||||
Including Interest on Deposits: | ||||||||||||||||
Fixed Charges: | ||||||||||||||||
Interest Expense | $ | 55,018 | $ | 38,853 | $ | 58,629 | $ | 83,851 | $ | 110,763 | ||||||
Interest Factor Within Rent Expense (a) | 4,122 | 2,669 | 2,366 | 2,661 | 1,870 | |||||||||||
Total Fixed Charges | 59,140 | 41,522 | 60,995 | 86,512 | 112,633 | |||||||||||
Preferred Stock dividends | 5,537 | — | — | — | 1,789 | |||||||||||
Total Fixed Charges and Preferred Stock Dividends | $ | 64,677 | $ | 41,522 | $ | 60,995 | $ | 86,512 | $ | 114,422 | ||||||
Earnings: | ||||||||||||||||
Income Before Income Taxes | $ | 260,110 | $ | 187,123 | $ | 165,651 | $ | 140,000 | $ | 107,815 | ||||||
Fixed Charges - Excluding Preferred Stock Dividends | 59,140 | 41,522 | 60,995 | 86,512 | 112,633 | |||||||||||
Total Earnings | $ | 319,250 | $ | 228,645 | $ | 226,646 | $ | 226,512 | $ | 220,448 | ||||||
Ratio of Earnings to Fixed Charges, | ||||||||||||||||
Including Interest on Deposits | 5.40 | 5.51 | 3.72 | 2.62 | 1.96 | |||||||||||
Ratio of Earnings to Combined Fixed Charges, | ||||||||||||||||
Including Interest on Deposits | 4.94 | 5.51 | 3.72 | 2.62 | 1.93 | |||||||||||
(a) The portion of rents shown as representative of the interest factor is one-third of total net operating lease expenses. |