Exhibit 12
FIRSTMERIT CORPORATION | ||||||||||||||||
Computations of Consolidated Ratios of Earnings to Fixed Charges (unaudited) | ||||||||||||||||
Year Ended December 31, | ||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||
Excluding Interest on Deposits: | ||||||||||||||||
Fixed Charges: | ||||||||||||||||
Interest Expense (excluding interest on deposits) | $ | 21,022 | $ | 18,420 | $ | 5,580 | $ | 9,639 | $ | 18,475 | ||||||
Interest Factor Within Rent Expense (1) | 4,672 | 4,122 | 2,669 | 2,661 | 2,366 | |||||||||||
Total Fixed Charges | 25,694 | 22,542 | 8,249 | 12,300 | 20,841 | |||||||||||
Preferred Stock dividends | 5,876 | 5,337 | — | — | — | |||||||||||
Total Fixed Charges and Preferred Stock Dividends | $ | 31,570 | $ | 27,879 | $ | 8,249 | $ | 12,300 | $ | 20,841 | ||||||
Earnings: | ||||||||||||||||
Income Before Income Taxes | $ | 339,894 | $ | 263,191 | $ | 189,799 | 168,252 | $ | 142,450 | |||||||
Fixed Charges - Excluding Preferred Stock Dividends | 25,694 | 22,542 | 8,249 | 12,300 | 20,841 | |||||||||||
Total Earnings | $ | 365,588 | $ | 285,733 | $ | 198,048 | $ | 180,552 | $ | 163,291 | ||||||
Ratio of Earnings to Fixed Charges, | ||||||||||||||||
Excluding Interest on Deposits | 14.23 | 12.68 | 24.01 | 14.68 | 7.84 | |||||||||||
Ratio of Earnings to Combined Fixed Charges, | ||||||||||||||||
Excluding Interest on Deposits | 11.58 | 10.25 | 24.01 | 14.68 | 7.84 | |||||||||||
Including Interest on Deposits: | ||||||||||||||||
Fixed Charges: | ||||||||||||||||
Interest Expense | $ | 56,930 | $ | 55,018 | $ | 38,853 | $ | 58,629 | $ | 83,851 | ||||||
Interest Factor Within Rent Expense (a) | 4,672 | 4,122 | 2,669 | 2,661 | 2,366 | |||||||||||
Total Fixed Charges | 61,602 | 59,140 | 41,522 | 61,290 | 86,217 | |||||||||||
Preferred Stock dividends | 5,876 | 5,337 | — | — | — | |||||||||||
Total Fixed Charges and Preferred Stock Dividends | $ | 67,478 | $ | 64,477 | $ | 41,522 | $ | 61,290 | $ | 86,217 | ||||||
Earnings: | ||||||||||||||||
Income Before Income Taxes | $ | 339,894 | $ | 263,191 | $ | 189,799 | $ | 168,252 | $ | 142,450 | ||||||
Fixed Charges - Excluding Preferred Stock Dividends | 61,602 | 59,140 | 41,522 | 61,290 | 86,217 | |||||||||||
Total Earnings | $ | 401,496 | $ | 322,331 | $ | 231,321 | $ | 229,542 | $ | 228,667 | ||||||
Ratio of Earnings to Fixed Charges, | ||||||||||||||||
Including Interest on Deposits | 6.52 | 5.45 | 5.57 | 3.75 | 2.65 | |||||||||||
Ratio of Earnings to Combined Fixed Charges, | ||||||||||||||||
Including Interest on Deposits | 5.95 | 5.00 | 5.57 | 3.75 | 2.65 | |||||||||||
(1) The portion of rents shown as representative of the interest factor is one-third of total net operating lease expenses. |