EXHIBIT 12
F.N.B. Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
Dollars in thousands
Year Ended December 31 | 2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||||||
Earnings: | ||||||||||||||||||||
Income from continuing operations before income taxes | $ | 98,139 | $ | 97,186 | $ | 77,105 | $ | 89,332 | $ | 36,004 | ||||||||||
Fixed charges, excluding interest on deposits | 51,510 | 48,839 | 44,468 | 33,523 | 31,313 | |||||||||||||||
Subtotal | 149,649 | 146,025 | 121,573 | 122,855 | 67,317 | |||||||||||||||
Interest on deposits | 124,276 | 106,679 | 66,112 | 52,400 | 57,710 | |||||||||||||||
Total | $ | 273,925 | $ | 252,704 | $ | 187,685 | $ | 175,255 | $ | 125,027 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest on borrowed funds | $ | 49,777 | $ | 46,906 | $ | 42,668 | $ | 31,990 | $ | 29,280 | ||||||||||
Interest component of rental expense | 1,733 | 1,933 | 1,800 | 1,533 | 2,033 | |||||||||||||||
Subtotal | 51,510 | 48,839 | 44,468 | 33,523 | 31,313 | |||||||||||||||
Interest on deposits | 124,276 | 106,679 | 66,112 | 52,400 | 57,710 | |||||||||||||||
Total | $ | 175,786 | $ | 155,518 | $ | 110,580 | $ | 85,923 | $ | 89,023 | ||||||||||
Ratio of earnings to fixed charges: | ||||||||||||||||||||
Excluding interest on deposits | 2.91x | 2.99x | 2.73x | 3.66x | 2.15x | |||||||||||||||
Including interest on deposits | 1.56x | 1.62x | 1.70x | 2.04x | 1.40x |