EXHIBIT 12
F.N.B. Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
Dollars in thousands
Year Ended December 31 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||
Earnings: | ||||||||||||||||||||
Income before income taxes | $ | 162,560 | $ | 154,183 | $ | 119,051 | $ | 102,536 | $ | 50,380 | ||||||||||
Fixed charges, excluding interest on deposits | 18,384 | 19,470 | 23,402 | 26,285 | 41,560 | |||||||||||||||
Less: Preferred stock dividends | — | — | — | — | (4,085 | ) | ||||||||||||||
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Subtotal | 180,944 | 173,653 | 142,453 | 128,821 | 87,855 | |||||||||||||||
Interest on deposits | 29,441 | 42,513 | 53,535 | 64,524 | 85,699 | |||||||||||||||
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Total | $ | 210,385 | $ | 216,166 | $ | 195,988 | $ | 193,345 | $ | 173,554 | ||||||||||
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Fixed charges: | ||||||||||||||||||||
Interest on borrowed funds | $ | 14,903 | $ | 16,542 | $ | 21,082 | $ | 24,207 | $ | 35,480 | ||||||||||
Interest component of rental expense | 3,481 | 2,928 | 2,320 | 2,078 | 1,995 | |||||||||||||||
Preferred stock dividends | — | — | — | — | 4,085 | |||||||||||||||
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Subtotal | 18,384 | 19,470 | 23,402 | 26,285 | 41,560 | |||||||||||||||
Interest on deposits | 29,441 | 42,513 | 53,535 | 64,524 | 85,699 | |||||||||||||||
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Total | $ | 47,825 | $ | 61,983 | $ | 76,937 | $ | 90,809 | $ | 127,269 | ||||||||||
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Ratio of earnings to fixed charges: | ||||||||||||||||||||
Excluding interest on deposits | 9.84x | 8.92x | 6.09x | 4.90x | 2.24x | |||||||||||||||
Including interest on deposits | 4.40x | 3.49x | 2.55x | 2.13x | 1.38x | |||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends: | ||||||||||||||||||||
Excluding interest on deposits | 9.84x | 8.92x | 6.09x | 4.90x | 2.11x | |||||||||||||||
Including interest on deposits | 4.40x | 3.49x | 2.55x | 2.13x | 1.36x |