EXHIBIT 12
F.N.B. Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
Dollars in thousands
Year Ended December 31 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||
Earnings: | ||||||||||||||||||||
Income before income taxes | $ | 246,389 | $ | 229,642 | $ | 206,670 | $ | 162,560 | $ | 154,183 | ||||||||||
Fixed charges, excluding interest on deposits | 44,810 | 34,330 | 29,921 | 18,384 | 19,470 | |||||||||||||||
Less: Preferred stock dividends | (11,593 | ) | (11,566 | ) | (11,983 | ) | — | — | ||||||||||||
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Subtotal | 279,606 | 252,406 | 224,608 | 180,944 | 173,653 | |||||||||||||||
Interest on deposits | 41,239 | 31,207 | 29,602 | 29,441 | 42,513 | |||||||||||||||
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Total | $ | 320,845 | $ | 283,613 | $ | 254,210 | $ | 210,385 | $ | 216,166 | ||||||||||
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Fixed charges: | ||||||||||||||||||||
Interest on borrowed funds | $ | 26,212 | $ | 17,366 | $ | 13,083 | $ | 14,903 | $ | 16,542 | ||||||||||
Interest component of rental expense | 7,005 | 5,398 | 4,855 | 3,481 | 2,928 | |||||||||||||||
Preferred stock dividends | 11,593 | 11,566 | 11,983 | — | — | |||||||||||||||
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Subtotal | 44,810 | 34,330 | 29,921 | 18,384 | 19,470 | |||||||||||||||
Interest on deposits | 41,239 | 31,207 | 29,602 | 29,441 | 42,513 | |||||||||||||||
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Total | $ | 86,049 | $ | 65,537 | $ | 59,523 | $ | 47,825 | $ | 61,983 | ||||||||||
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Ratio of earnings to fixed charges: | ||||||||||||||||||||
Excluding interest on deposits | 8.07x | 10.58x | 11.85x | 9.84x | 8.92x | |||||||||||||||
Including interest on deposits | 4.15x | 5.04x | 5.10x | 4.40x | 3.49x | |||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends: | ||||||||||||||||||||
Excluding interest on deposits | 6.24x | 7.35x | 7.51x | 9.84x | 8.92x | |||||||||||||||
Including interest on deposits | 3.73x | 4.33x | 4.27x | 4.40x | 3.49x |