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Exhibit 12.1
First Regional Bancorp
Ratio of Earnings to Fixed Costs
| | Years Ended December 31, | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nine Months Ended September 30, 2003 | |||||||||||
| 2002 | 2001 | 2000 | 1999 | 1998 | |||||||
| (Dollars in Thousands except ratios) | |||||||||||
Earnings, including interest on deposits(1) | ||||||||||||
Income before provision for income taxes | 5,564 | 4,822 | 4,139 | 4,095 | 2,939 | 2,906 | ||||||
Fixed Charges | 2,445 | 2,969 | 5,160 | 5,030 | 4,461 | 3,440 | ||||||
8,009 | 7,791 | 9,299 | 9,125 | 7,400 | 6,346 | |||||||
Fixed charges(1) | ||||||||||||
Interest expensed and capitalized | 2,388 | 2,926 | 5,160 | 5,030 | 4,461 | 3,440 | ||||||
Estimate of interest included in rental expense | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
Amortization of capitalized expenses related to indebtedness | 57 | 43 | 0 | 0 | 0 | 0 | ||||||
2,445 | 2,969 | 5,160 | 5,030 | 4,461 | 3,440 | |||||||
Ratio of earnings to fixed charges | 3.2757 | 2.6241 | 1.8021 | 1.8141 | 1.6588 | 1.8448 | ||||||
$ Deficiency | n/a | n/a | n/a | n/a | n/a | n/a | ||||||
Earnings, excluding interest on deposits | ||||||||||||
Income before provision for income taxes | 5,564 | 4,822 | 4,139 | 4,095 | 2,939 | 2,906 | ||||||
Fixed Charges | 550 | 434 | 21 | 15 | 15 | 3 | ||||||
6,114 | 5,256 | 4,160 | 4,110 | 2,954 | 2,909 | |||||||
Fixed charges | ||||||||||||
Interest expensed and capitalized | 2,388 | 2,926 | 5,160 | 5,030 | 4,461 | 3,440 | ||||||
Less interest on deposits | 1,895 | 2,535 | 5,139 | 5,015 | 4,444 | 3,437 | ||||||
Estimate of interest included in rental expense | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
Amortization of capitalized expenses related to indebtedness | 57 | 43 | 0 | 0 | 0 | 0 | ||||||
550 | 434 | 21 | 15 | 17 | 3 | |||||||
Ratio of earnings to fixed charges | 11.1164 | 12.1106 | 198.0952 | 274.0000 | 173.7647 | 969.6667 | ||||||
$ Deficiency | n/a | n/a | n/a | n/a | n/a | n/a |
- (1)
- As defined in item 503(d) of Regulation S-K.
First Regional Bancorp Ratio of Earnings to Fixed Costs