Exhibit 12.1
CNB Financial Corporation
Ratio of Earnings to Fixed Charges
(dollars in thousands)
Years Ended December 31, | |||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||
Net Income from continuing operations | a | $ | 10,866 | $ | 6,502 | $ | 12,415 | $ | 12,972 | $ | 12,127 | ||||||
Interest expense on deposits | b | 13,091 | 14,956 | 18,087 | 17,106 | 12,633 | |||||||||||
Interest expense on borrowings | c | 4,527 | 4,609 | 3,510 | 2,881 | 2,637 | |||||||||||
Interest expense on subordinated debt | d | 850 | 1,018 | 1,325 | 866 | 685 | |||||||||||
Earnings | 29,334 | 27,085 | 35,337 | 33,825 | 28,082 | ||||||||||||
Preferred stock dividends | e | — | — | — | — | — | |||||||||||
Fixed charges | (b+c+d+e) | 18,468 | 20,583 | 22,922 | 20,853 | 15,955 | |||||||||||
Ratio of earnings to fixed charges (including interest expense on deposits) | (a+b+c+d) /(b+c+d+e) | 1.59 | 1.32 | 1.54 | 1.62 | 1.76 | |||||||||||
Earnings excluding interest expense on deposits | (a+c+d) | 16,243 | 12,129 | 17,250 | 16,719 | 15,449 | |||||||||||
Fixed charges excluding interest expense on deposits | (c+d+e) | 5,377 | 5,627 | 4,835 | 3,747 | 3,322 | |||||||||||
Ratio of earnings to fixed charges (excluding interest expense on deposits) | (a+c+d)/(c+d+e) | 3.02 | 2.16 | 3.57 | 4.46 | 4.65 |