Exhibit 12.1
First Merchants Corporation
Computation of the Consolidated Ratio of
Earnings to Fixed Charges and the Consolidated Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
Earnings to Fixed Charges and the Consolidated Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||||||
FIXED CHARGES: | ||||||||||||||||||||||||
Interest Expense on Deposits | 67,581 | 89,921 | 74,314 | 46,121 | 33,844 | |||||||||||||||||||
Interest Expense on Other Borrowings | 22,508 | 27,692 | 24,197 | 19,959 | 17,741 | |||||||||||||||||||
Building Rent | 2,932 | 2,799 | 2,789 | 3,069 | 3,301 | |||||||||||||||||||
Equipment Rent | — | — | — | — | — | |||||||||||||||||||
Total Blding and Equip Rent | 2,932 | 2,799 | 2,789 | 3,069 | 3,301 | |||||||||||||||||||
Rental Expense 66.67% | 1,955 | 1,866 | 1,859 | 2,046 | 2,201 | |||||||||||||||||||
Imputed Interest Expense 33.33% | 977 | 933 | 930 | 1,023 | 1,100 | |||||||||||||||||||
Interest Capitalized | — | — | — | — | — | |||||||||||||||||||
Fixed Charges Excluding Interest on Deposits | 23,485 | 28,625 | 25,127 | 20,982 | 18,841 | |||||||||||||||||||
Fixed Charges Including Interest on Deposits | 91,066 | 118,546 | 99,441 | 67,103 | 52,685 | |||||||||||||||||||
EARNINGS: | ||||||||||||||||||||||||
Net Income from Continuing Operations before Taxes | 28,721 | 42,982 | 42,393 | 43,535 | 42,596 | |||||||||||||||||||
Plus: Fixed Charges Excluding Interest on Deposits | 23,485 | 28,625 | 25,127 | 20,982 | 18,841 | |||||||||||||||||||
Less: Interest Capitalized | — | — | — | — | — | |||||||||||||||||||
52,206 | 71,607 | 67,520 | 64,517 | 61,437 | ||||||||||||||||||||
EARNINGS: | ||||||||||||||||||||||||
Net Income from Continuing Operations before Taxes | 28,721 | 42,982 | 42,393 | 43,535 | 42,596 | |||||||||||||||||||
Plus: Fixed Charges Including Interest on Deposits | 91,066 | 118,546 | 99,441 | 67,103 | 52,685 | |||||||||||||||||||
Less: Interest Capitalized | — | — | — | — | — | |||||||||||||||||||
119,787 | 161,528 | 141,834 | 110,638 | 95,281 | ||||||||||||||||||||
CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES: | ||||||||||||||||||||||||
Excluding Interest on Deposits | 2.22 | 2.50 | 2.69 | 3.07 | 3.26 | |||||||||||||||||||
Including Interest on Deposits | 1.32 | 1.36 | 1.43 | 1.65 | 1.81 | |||||||||||||||||||
CONSOLIDATED RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS: | ||||||||||||||||||||||||
Excluding Interest on Deposits | 2.22 | 2.50 | 2.69 | 3.07 | 3.26 | |||||||||||||||||||
Including Interest on Deposits | 1.32 | 1.36 | 1.43 | 1.65 | 1.81 |