EXHIBIT 12
F.N.B. Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
Dollars in thousands
Year Ended December 31 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
Earnings: | ||||||||||||||||||||
Income before income taxes | $ | 206,670 | $ | 162,560 | $ | 154,183 | $ | 119,051 | $ | 102,536 | ||||||||||
Fixed charges, excluding interest on deposits | 29,921 | 18,384 | 19,470 | 23,402 | 26,285 | |||||||||||||||
Less: Preferred stock dividends | (11,983 | ) | — | — | — | — | ||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Subtotal | 224,608 | 180,944 | 173,653 | 142,453 | 128,821 | |||||||||||||||
Interest on deposits | 29,602 | 29,441 | 42,513 | 53,535 | 64,524 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total | $ | 254,210 | $ | 210,385 | $ | 216,166 | $ | 195,988 | $ | 193,345 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Fixed charges: | ||||||||||||||||||||
Interest on borrowed funds | $ | 13,083 | $ | 14,903 | $ | 16,542 | $ | 21,082 | $ | 24,207 | ||||||||||
Interest component of rental expense | 4,855 | 3,481 | 2,928 | 2,320 | 2,078 | |||||||||||||||
Preferred stock dividends | 11,983 | — | — | — | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Subtotal | 29,921 | 18,384 | 19,470 | 23,402 | 26,285 | |||||||||||||||
Interest on deposits | 29,602 | 29,441 | 42,513 | 53,535 | 64,524 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total | $ | 59,523 | $ | 47,825 | $ | 61,983 | $ | 76,937 | $ | 90,809 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Ratio of earnings to fixed charges: | ||||||||||||||||||||
Excluding interest on deposits | 11.85x | 9.84x | 8.92x | 6.09x | 4.90x | |||||||||||||||
Including interest on deposits | 5.10x | 4.40x | 3.49x | 2.55x | 2.13x | |||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends: | ||||||||||||||||||||
Excluding interest on deposits | 7.51x | 9.84x | 8.92x | 6.09x | 4.90x | |||||||||||||||
Including interest on deposits | 4.27x | 4.40x | 3.49x | 2.55x | 2.13x |