Exhibit 12(a)
M&T BANK CORPORATION
Computations of Consolidated Ratios of Earnings to Fixed Charges
(Dollars in thousands — unaudited)
Computations of Consolidated Ratios of Earnings to Fixed Charges
(Dollars in thousands — unaudited)
For the nine months | For the twelve months | |||||||||||||||||||||||||||
ended September 31, | ended December 31, | |||||||||||||||||||||||||||
2008 | 2007 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||||||||
Excluding Interest on Deposits: | ||||||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest Expense (excluding interest on deposits) | $ | 523,844 | 535,279 | 735,257 | 561,686 | 437,820 | 272,538 | 247,316 | ||||||||||||||||||||
Interest Factor Within Rent Expense (a) | 18,230 | 15,999 | 21,608 | 20,135 | 19,217 | 19,570 | 17,170 | |||||||||||||||||||||
Total Fixed Charges | 542,074 | 551,278 | 756,865 | 581,821 | 457,037 | 292,108 | 264,486 | |||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income Before Income Taxes | $ | 610,106 | 879,310 | 963,537 | 1,231,642 | 1,170,919 | 1,066,523 | 850,670 | ||||||||||||||||||||
Fixed Charges — Excluding Preferred Stock Dividends | 542,074 | 551,278 | 756,865 | 581,821 | 457,037 | 292,108 | 264,486 | |||||||||||||||||||||
Total Earnings | 1,152,180 | 1,430,588 | 1,720,402 | 1,813,463 | 1,627,956 | 1,358,631 | 1,115,156 | |||||||||||||||||||||
Ratio of Earnings to Fixed Charges, Excluding Interest on Deposits | x | 2.13 | 2.60 | 2.27 | 3.12 | 3.56 | 4.65 | 4.22 | ||||||||||||||||||||
Including Interest on Deposits: | ||||||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest Expense | $ | 1,049,369 | 1,252,212 | 1,694,576 | 1,496,552 | 994,351 | 564,160 | 527,810 | ||||||||||||||||||||
Interest Factor Within Rent Expense (a) | 18,230 | 15,999 | 21,608 | 20,135 | 19,217 | 19,570 | 17,170 | |||||||||||||||||||||
Total Fixed Charges | 1,067,599 | 1,268,211 | 1,716,184 | 1,516,687 | 1,013,568 | 583,730 | 544,980 | |||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income Before Income Taxes | $ | 610,106 | 879,310 | 963,537 | 1,231,642 | 1,170,919 | 1,066,523 | 850,670 | ||||||||||||||||||||
Fixed Charges — Excluding Preferred Stock Dividends | 1,067,599 | 1,268,211 | 1,716,184 | 1,516,687 | 1,013,568 | 583,730 | 544,980 | |||||||||||||||||||||
Total Earnings | 1,677,705 | 2,147,521 | 2,679,721 | 2,748,329 | 2,184,487 | 1,650,253 | 1,395,650 | |||||||||||||||||||||
Ratio of Earnings to Fixed Charges, Including Interest on Deposits | x | 1.57 | 1.69 | 1.56 | 1.81 | 2.16 | 2.83 | 2.56 |
(a) | The portion of rents shown as representative of the interest factor is one-third of total net operating lease expenses. |