Renasant (RNST) 10-Q 2017 Q1 Quarterly report

Exhibit 12

Renasant Corporation and Subsidiaries

Calculation of Ratio of Earnings to Fixed Charges

(In Thousands)

The following table sets forth the consolidated ratios of earnings to fixed charges of Renasant Corporation (the “Company”) for the periods shown below. No shares of the Company's preferred stock were outstanding, and the Company did not pay dividends on preferred stock, during these periods. No shares of the Company's preferred stock are currently outstanding. As a result, the ratios of earnings to fixed charges and preferred stock dividends are the same as the ratios of earnings to fixed charges for these periods.

	Three Months Ended
	March 31,						Years Ended December 31,
	2017			2016			2016			2015			2014			2013			2012
Earnings:
Net income before income taxes	35,227			31,742			$	135,777		$	99,764		$	85,887		$	45,746		$	33,465
Fixed charges (see below)	7,606			5,921			26,554			19,722			23,051			23,683			26,975
Total earnings	$	42,833		$	37,663		$	162,331		$	119,486		$	108,938		$	69,429		$	60,440
Fixed Charges:
Interest expensed and capitalized on deposits	5,149			3,960			$	17,856		$	13,715		$	16,216		$	17,118		$	19,030
Interest expensed and capitalized on other debt	2,725			2,245			10,291			7,950			7,711			6,353			6,945
Amortized premiums and discounts related to deposits	(512		)	(504		)	(2,484		)	(2,611		)	(1,425		)	(632		)	—
Amortized premiums and discounts related to other indebtedness	(137		)	(137		)	(548		)	(521		)	(387		)	(21		)	161
Estimate of the interest expense within rental expense	381			357			1,439			1,189			936			865			839
Total fixed charges	7,606			5,921			26,554			19,722			23,051			23,683			26,975
Ratio of Earnings to Fixed Charges:
Excluding Interest on Deposits	12.86			13.88			13.14			12.58			11.40			7.36			5.21
Including Interest on Deposits	5.63			6.36			6.11			6.06			4.73			2.93			2.24

The ratios of earnings to fixed charges are computed by dividing (1) income (loss) before income taxes and fixed charges by (2) total fixed charges. For purposes of computing these ratios:

• fixed charges, including interest on deposits, includes all interest expense, amortized premiums and discounts related to deposits and other indebtedness, and the estimated portion of rental expense attributable to interest, net of income from subleases; and

• fixed charges, excluding interest on deposits, includes interest expense (other than on deposits), amortized premiums and discounts related to indebtedness (but not deposits), and the estimated portion of rental expense attributable to interest, net of income from subleases.