Exhibit 12
First Midwest Bancorp, Inc.
Ratio of Earnings to Fixed Charges(1)
(Dollar Amounts in Thousands)
Years ended December 31, | ||||||||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||
Ratio 1 - Including Interest on Deposits | ||||||||||||||||||
Earnings available for fixed charges: | ||||||||||||||||||
Income from continuing operations | $ | 80,159 | $ | 117,246 | $ | 101,377 | $ | 99,136 | $ | 92,778 | ||||||||
Add: | ||||||||||||||||||
Income tax provision | 13,853 | 35,052 | 34,452 | 32,848 | 30,889 | |||||||||||||
Fixed charges | 237,930 | 225,585 | 131,690 | 87,185 | 81,964 | |||||||||||||
Total earnings available for fixed charges | $ | 331,942 | $ | 377,883 | $ | 267,519 | $ | 219,169 | $ | 205,631 | ||||||||
Fixed charges(2) | ||||||||||||||||||
Interest on deposits | $ | 166,267 | $ | 148,118 | $ | 86,675 | $ | 57,432 | $ | 56,272 | ||||||||
Interest on borrowed funds | 55,540 | 62,974 | 35,834 | 20,980 | 23,962 | |||||||||||||
Interest on subordinated debt | 15,025 | 13,458 | 8,341 | 8,066 | 1,079 | |||||||||||||
Portion of rental expense representative | ||||||||||||||||||
of interest factor | 1,098 | 1,035 | 840 | 707 | 651 | |||||||||||||
Total fixed charges | $ | 237,930 | $ | 225,585 | $ | 131,690 | $ | 87,185 | $ | 81,964 | ||||||||
Ratio of earnings to fixed charges | 1.40 | x | 1.68 | x | 2.03 | x | 2.51 | x | 2.51 | x | ||||||||
Ratio 2 - Excluding Interest on Deposits | ||||||||||||||||||
Earnings available for fixed charges: | ||||||||||||||||||
Income from continuing operations | $ | 80,159 | $ | 117,246 | $ | 101,377 | $ | 99,136 | $ | 92,778 | ||||||||
Add: | ||||||||||||||||||
Income tax provision | 13,853 | 35,052 | 34,452 | 32,848 | 30,889 | |||||||||||||
Fixed charges | 71,663 | 77,467 | 45,015 | 29,753 | 25,692 | |||||||||||||
Total earnings available for fixed charges | $ | 165,675 | $ | 229,765 | $ | 180,844 | $ | 161,737 | $ | 149,359 | ||||||||
Fixed charges(2): | ||||||||||||||||||
Interest on borrowed funds | $ | 55,540 | $ | 62,974 | $ | 35,834 | $ | 20,980 | $ | 23,962 | ||||||||
Interest on subordinated debt | 15,025 | 13,458 | 8,341 | 8,066 | 1,079 | |||||||||||||
Portion of rental expense representative | ||||||||||||||||||
of interest factor | 1,098 | 1,035 | 840 | 707 | 651 | |||||||||||||
Total fixed charges | $ | 71,663 | $ | 77,467 | $ | 45,015 | $ | 29,753 | $ | 25,692 | ||||||||
Ratio of earnings to fixed charges | 2.31 | x | 2.97 | x | 4.02 | x | 5.44 | x | 5.81 | x | ||||||||
(1) | The ratio of earnings to fixed charges represents the number of times "fixed charges" are covered by "earnings." | |||||||||||||||||
(2) | "Fixed charges" consist of interest on outstanding debt plus one-third (the proportion deemed representative of the interest factor) of | |||||||||||||||||
operating lease expense. |