Exhibit (12)(a)
M&T Bank Corporation
Computations of Consolidated Ratios of Earnings to Fixed Charges
(Dollars in thousands)
Three Months Ended March 31 | Year Ended December 31 | |||||||||||||||||||||||||||
2012 | 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||||
Excluding interest on deposits | ||||||||||||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense (excluding interest on deposits) | $ | 61,518 | 59,773 | 244,896 | 274,584 | 347,166 | 671,946 | 735,257 | ||||||||||||||||||||
Interest factor within rent expense (a) | 9,069 | 7,816 | 34,341 | 31,565 | 29,670 | 24,618 | 21,608 | |||||||||||||||||||||
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Total fixed charges | 70,587 | 67,589 | 279,237 | 306,149 | 376,836 | 696,564 | 756,865 | |||||||||||||||||||||
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Earnings: | ||||||||||||||||||||||||||||
Income before income taxes | 308,417 | 308,653 | 1,224,600 | 1,092,789 | 519,291 | 739,779 | 963,537 | |||||||||||||||||||||
Fixed charges | 70,587 | 67,589 | 279,237 | 306,149 | 376,836 | 696,564 | 756,865 | |||||||||||||||||||||
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Total earnings | $ | 379,004 | 376,242 | 1,503,837 | 1,398,938 | 896,127 | 1,436,343 | 1,720,402 | ||||||||||||||||||||
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Ratio of earnings to fixed charges, excluding interest on deposits | x | 5.37 | 5.57 | 5.39 | 4.57 | 2.38 | 2.06 | 2.27 | ||||||||||||||||||||
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Including interest on deposits | ||||||||||||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense | $ | 93,706 | 98,679 | 402,331 | 462,269 | 669,449 | 1,337,795 | 1,694,576 | ||||||||||||||||||||
Interest factor within rent expense (a) | 9,069 | 7,816 | 34,341 | 31,565 | 29,670 | 24,618 | 21,608 | |||||||||||||||||||||
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Total fixed charges | 102,775 | 106,495 | 436,672 | 493,834 | 699,119 | 1,362,413 | 1,716,184 | |||||||||||||||||||||
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Earnings: | ||||||||||||||||||||||||||||
Income before income taxes | 308,417 | 308,653 | 1,224,600 | 1,092,789 | 519,291 | 739,779 | 963,537 | |||||||||||||||||||||
Fixed charges | 102,775 | 106,495 | 436,672 | 493,834 | 699,119 | 1,362,413 | 1,716,184 | |||||||||||||||||||||
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Total earnings | $ | 411,192 | 415,148 | 1,661,272 | 1,586,623 | 1,218,410 | 2,102,192 | 2,679,721 | ||||||||||||||||||||
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Ratio of earnings to fixed charges, including interest on deposits | x | 4.00 | 3.90 | 3.80 | 3.21 | 1.74 | 1.54 | 1.56 | ||||||||||||||||||||
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(a) | The portion of rents shown as representative of the interest factor is one-third of total net operating lease expenses. |