EXHIBIT 12
F.N.B. Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
Dollars in thousands
Computation of Ratio of Earnings to Fixed Charges
Dollars in thousands
For the Six Months | ||||||||||||||||||||||||||||
Ended June 30 | Year Ended December 31 | |||||||||||||||||||||||||||
2005 | 2004 | 2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | 46,960 | $ | 45,512 | $ | 89,332 | $ | 36,004 | $ | 44,999 | $ | 42,683 | $ | 58,802 | ||||||||||||||
Fixed charges, excluding interest on deposits | 20,461 | 15,566 | 33,523 | 31,313 | 27,461 | 25,821 | 23,165 | |||||||||||||||||||||
Subtotal | 67,421 | 61,078 | 122,855 | 67,317 | 72,460 | 68,504 | 81,967 | |||||||||||||||||||||
Interest on deposits | 30,235 | 25,005 | 52,400 | 57,710 | 72,978 | 111,096 | 115,377 | |||||||||||||||||||||
Total | $ | 97,656 | $ | 86,083 | $ | 175,255 | $ | 125,027 | $ | 145,438 | $ | 179,600 | $ | 197,344 | ||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest on borrowed funds | $ | 19,590 | $ | 14,814 | $ | 31,990 | $ | 29,280 | $ | 25,394 | $ | 23,888 | $ | 21,398 | ||||||||||||||
Interest component of rental expense | 871 | 752 | 1,533 | 2,033 | 2,067 | 1,933 | 1,767 | |||||||||||||||||||||
Subtotal | 20,461 | 15,566 | 33,523 | 31,313 | 27,461 | 25,821 | 23,165 | |||||||||||||||||||||
Interest on deposits | 30,235 | 25,005 | 52,400 | 57,710 | 72,978 | 111,096 | 115,377 | |||||||||||||||||||||
Total | $ | 50,696 | $ | 40,571 | $ | 85,923 | $ | 89,023 | $ | 100,439 | $ | 136,917 | $ | 138,542 | ||||||||||||||
Ratio of earnings to fixed charges: | ||||||||||||||||||||||||||||
Excluding interest on deposits | 3.30x | 3.92x | 3.66x | 2.15x | 2.64x | 2.65x | 3.54x | |||||||||||||||||||||
Including interest on deposits | 1.93x | 2.12x | 2.04x | 1.40x | 1.45x | 1.31x | 1.42x |