Lakeland Bancorp (LBAI) 10-K2010 FY Annual report

Filed: 16 Mar 11, 12:00am

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Exhibit 12.1

STATEMENT OF RATIOS OF EARNINGS TO FIXED CHARGES


	Year ended December 31,
	2010		2009			2008		2007		2006
	(Dollars in thousands)
Ratio of earnings to fixed charges
Earnings:
Income from continuing operations before taxes	$	29,336	$	(13,173	)	$	22,389	$	26,189	$	24,437
Fixed charges excluding deposits and preferred stock dividends:		11,333		14,312			16,583		12,824		11,957

Subtotal		40,669		1,139			38,972		39,013		36,394
Interest on deposits		15,195		26,793			39,303		52,274		41,546

Total	$	55,864	$	27,932		$	78,275	$	91,287	$	77,940

Fixed charges:
Interest excluding deposits	$	10,700	$	13,650		$	16,055	$	12,376	$	11,558
Interest component on rentals¹		633		662			528		448		399
Preferred stock dividends		3,987		3,194			—		—		—

Subtotal		15,320		17,506			16,583		12,824		11,957
Interest on deposits		15,195		26,793			39,303		52,274		41,546

Total	$	30,515	$	44,299		$	55,886	$	65,098	$	53,503

Ratio of earnings to fixed charges:
Excluding interest on deposits		2.65		0.07	²		2.35		3.04		3.04
Including interest on deposits		1.83		0.63			1.40		1.40		1.46

¹	Interest component on rentals estimated to be one-third of rentals

²	The dollar amount for the deficiency for the year ended 12/31/09 is $16.4 million.

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