Exhibit 12.1
CNB Financial Corporation
Ratio of Earnings to Fixed Charges and Combined Fixed Charges and Preferred Stock Dividends
(dollars in thousands)
| Nine Months Ended September 30, | Years Ended December 31, | |||||||||||||||||||||||||
| 2012 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||||||
Net Income from continuing operations | a | $ | 18,286 | $ | 20,633 | $ | 14,785 | $ | 10,866 | $ | 6,502 | $ | 12,415 | |||||||||||||
Interest expense on deposits | b | 8,519 | 13,625 | 13,558 | 13,091 | 14,956 | 18,087 | |||||||||||||||||||
Interest expense on borrowings | c | 2,418 | 3,176 | 4,716 | 4,527 | 4,609 | 3,510 | |||||||||||||||||||
Interest expense on subordinated debt | d | 606 | 778 | 782 | 850 | 1,018 | 1,325 | |||||||||||||||||||
Earnings | 29,829 | 38,212 | 33,841 | 29,334 | 27,085 | 35,337 | ||||||||||||||||||||
Preferred stock dividends | e | — | — | — | — | — | — | |||||||||||||||||||
Fixed charges | (b+c+d+e) | 11,543 | 17,579 | 19,056 | 18,468 | 20,583 | 22,922 | |||||||||||||||||||
Ratio of earnings to fixed charges (including interest expense on deposits) | (a+b+c+d) /(b+c+d+e) | 2.58 | 2.17 | 1.78 | 1.59 | 1.32 | 1.54 | |||||||||||||||||||
Earnings excluding interest expense on deposits | (a+c+d) | 21,310 | 24,587 | 20,283 | 16,243 | 12,129 | 17,250 | |||||||||||||||||||
Fixed charges excluding interest expense on deposits | (c+d+e) | 3,024 | 3,954 | 5,498 | 5,377 | 5,627 | 4,835 | |||||||||||||||||||
Ratio of earnings to fixed charges (excluding interest expense on deposits) | (a+c+d)/ (c+d+e) | 7.05 | 6.22 | 3.69 | 3.02 | 2.16 | 3.57 | |||||||||||||||||||
