F.N.B. (FNB) 10-K2010 FY Annual report

Filed: 25 Feb 11, 12:00am

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EXHIBIT 12

F.N.B. Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
Dollars in thousands


Year Ended December 31	2010		2009			2008		2007		2006
Earnings:
Income before income taxes	$	102,536	$	50,380		$	42,832	$	98,139	$	97,186
Fixed charges, excluding interest on deposits		26,285		41,560			48,312		51,510		48,839
Less: Preferred stock dividends		—		(4,085	)		—		—		—

Subtotal		128,821		87,855			91,144		149,649		146,025
Interest on deposits		64,524		85,699			111,568		124,276		106,679

Total	$	193,345	$	173,554		$	202,712	$	273,925	$	252,704


Fixed charges:
Interest on borrowed funds	$	24,207	$	35,480		$	46,421	$	49,777	$	46,906
Interest component of rental expense		2,078		1,995			1,891		1,733		1,933
Preferred stock dividends		—		4,085			—		—		—

Subtotal		26,285		41,560			48,312		51,510		48,839
Interest on deposits		64,524		85,699			111,568		124,276		106,679

Total	$	90,809	$	127,269		$	159,880	$	175,786	$	155,518


Ratio of earnings to fixed charges:
Excluding interest on deposits		4.90x		2.24x			1.89x		2.91x		2.99x
Including interest on deposits		2.13x		1.38x			1.27x		1.56x		1.62x

Ratio of earnings to fixed charges and preferred stock dividends:
Excluding interest on deposits		4.90x		2.11x			1.89x		2.91x		2.99x
Including interest on deposits		2.13x		1.36x			1.27x		1.56x		1.62x