Exhibit 12(a)
M&T Bank Corporation
Computation of Consolidated Ratios of Earnings to Fixed Charges
($’s in thousands)
Computation of Consolidated Ratios of Earnings to Fixed Charges
($’s in thousands)
Nine Months | ||||||||||||||||||||||||
Ended | Year Ended December 31, | |||||||||||||||||||||||
September 30, 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | |||||||||||||||||||
Excluding Interest on Deposits: | ||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest Expense (excluding interest on deposits) | $ | 535,279 | 561,686 | 437,820 | 272,538 | 247,316 | 237,872 | |||||||||||||||||
Interest Factor Within Rent Expense (a) | 15,999 | 20,135 | 19,217 | 19,570 | 17,170 | 10,401 | ||||||||||||||||||
Total Fixed Charges | $ | 551,278 | 581,821 | 457,037 | 292,108 | 264,486 | 248,273 | |||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income Before Income Taxes | $ | 879,310 | 1,231,642 | 1,170,919 | 1,066,523 | 850,670 | 675,905 | |||||||||||||||||
Fixed Charges | 551,278 | 581,821 | 457,037 | 292,108 | 264,486 | 248,273 | ||||||||||||||||||
Total Earnings | $ | 1,430,588 | 1,813,463 | 1,627,956 | 1,358,631 | 1,115,156 | 924,178 | |||||||||||||||||
Ratio of Earnings to Fixed Charges, Excluding Interest on Deposits | x | 2.60 | 3.12 | 3.56 | 4.65 | 4.22 | 3.72 | |||||||||||||||||
Including Interest on Deposits: | ||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest Expense | $ | 1,252,212 | 1,496,552 | 994,351 | 564,160 | 527,810 | 594,514 | |||||||||||||||||
Interest Factor Within Rent Expense (a) | 15,999 | 20,135 | 19,217 | 19,570 | 17,170 | 10,401 | ||||||||||||||||||
Total Fixed Charges | $ | 1,268,211 | 1,516,687 | 1,013,568 | 583,730 | 544,980 | 604,915 | |||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income Before Income Taxes | $ | 879,310 | 1,231,642 | 1,170,919 | 1,066,523 | 850,670 | 675,905 | |||||||||||||||||
Fixed Charges | 1,268,211 | 1,516,687 | 1,013,568 | 583,730 | 544,980 | 604,915 | ||||||||||||||||||
Total Earnings | $ | 2,147,521 | 2,748,329 | 2,184,487 | 1,650,253 | 1,395,650 | 1,280,820 | |||||||||||||||||
Ratio of Earnings to Fixed Charges, Including Interest on Deposits | x | 1.69 | 1.81 | 2.16 | 2.83 | 2.56 | 2.12 | |||||||||||||||||
(a) | The portion of rents shown as representative of the interest factor is one-third of total net operating lease expenses. |