Exhibit 12.1
CNB Financial Corporation
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends (dollars in thousands)
| Nine Months Ended September 30, | Years Ended December 31, | |||||||||||||||||||||||||
| 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||||||
Net Income from continuing operations | a | $ | 20,644 | $ | 30,489 | $ | 32,388 | $ | 23,019 | $ | 23,547 | $ | 20,633 | |||||||||||||
Interest expense on deposits | b | 6,288 | 8,498 | 8,300 | 7,995 | 10,875 | 13,625 | |||||||||||||||||||
Interest expense on borrowings | c | 2,341 | 3,222 | 3,241 | 3,447 | 3,245 | 3,176 | |||||||||||||||||||
Interest expense on subordinated debt | d | 590 | 751 | 746 | 770 | 800 | 778 | |||||||||||||||||||
Earnings | (a+b+c+d) | 29,863 | 42,960 | 44,675 | 35,231 | 38,467 | 38,212 | |||||||||||||||||||
Preferred stock dividends | e | — | — | — | — | — | — | |||||||||||||||||||
Fixed charges | (b+c+d) | 9,219 | 12,471 | 12,287 | 12,212 | 14,920 | 17,579 | |||||||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends (including interest expense on deposits) | (a+b+c+d) /(b+c+d+e) | 3.24 | 3.44 | 3.64 | 2.88 | 2.58 | 2.17 | |||||||||||||||||||
Earnings excluding interest expense on deposits | (a+c+d) | 23,575 | 34,462 | 36,375 | 27,236 | 27,592 | 24,587 | |||||||||||||||||||
Fixed charges excluding interest expense on deposits | (c+d) | 2,931 | 3,973 | 3,987 | 4,217 | 4,045 | 3,954 | |||||||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends (excluding interest expense on deposits) | (a+c+d)/ (c+d+e) | 8.04 | 8.67 | 9.12 | 6.46 | 6.82 | 6.22 | |||||||||||||||||||
