Exhibit 12
PrivateBancorp, Inc.
Computation of Earnings to Fixed Charges
(Dollars in thousands)
Six Months Ended June 30, | Year Ended December 31, | ||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||||||||
Earnings: | |||||||||||||||||||||||||||
Income (loss) before income taxes | $ | 90,831 | $ | 132,417 | $ | 70,200 | $ | 64 | $ | (50,380 | ) | $ | (153,993 | ) | |||||||||||||
Fixed charges, excluding interest on deposits | 15,749 | 24,289 | 23,947 | 32,931 | 42,112 | 38,277 | |||||||||||||||||||||
Earnings before fixed charges, excluding interest on deposits | 106,580 | 156,706 | 94,147 | 32,995 | (8,268 | ) | (115,716 | ) | |||||||||||||||||||
Interest on deposits | 20,520 | 42,814 | 50,072 | 74,037 | 111,616 | 176,710 | |||||||||||||||||||||
Earnings before fixed charges, including interest on deposits | $ | 127,100 | $ | 199,520 | $ | 144,219 | $ | 107,032 | $ | 103,348 | $ | 60,994 | |||||||||||||||
Fixed Charges: | |||||||||||||||||||||||||||
Interest expense, excluding interest on deposits | $ | 15,749 | $ | 24,289 | $ | 23,947 | $ | 32,931 | $ | 42,112 | $ | 38,277 | |||||||||||||||
Interest on deposits | 20,520 | 42,814 | 50,072 | 74,037 | 111,616 | 176,710 | |||||||||||||||||||||
Total fixed charges, including interest on deposits | $ | 36,269 | $ | 67,103 | $ | 74,019 | $ | 106,968 | $ | 153,728 | $ | 214,987 | |||||||||||||||
Fixed Charges and Preferred Stock Dividends: | |||||||||||||||||||||||||||
Interest expense, excluding interest on deposits | $ | 15,749 | $ | 24,289 | $ | 23,947 | $ | 32,931 | $ | 42,112 | $ | 38,277 | |||||||||||||||
Preferred stock dividends | — | 13,368 | 13,690 | 13,607 | 12,443 | 546 | |||||||||||||||||||||
Total fixed charges and preferred stock dividends, excluding interest on deposits | 15,749 | 37,657 | 37,637 | 46,538 | 54,555 | 38,823 | |||||||||||||||||||||
Interest on deposits | 20,520 | 42,814 | 50,072 | 74,037 | 111,616 | 176,710 | |||||||||||||||||||||
Total fixed charges and preferred stock dividends, including interest on deposits | $ | 36,269 | $ | 80,471 | $ | 87,709 | $ | 120,575 | $ | 166,171 | $ | 215,533 | |||||||||||||||
Ratio of Earnings to Fixed Charges: | |||||||||||||||||||||||||||
Excluding interest on deposits | 6.77 | x | 6.45 | x | 3.93 | x | 1.00 | x | (a) | (a) | |||||||||||||||||
Including interest on deposits | 3.50 | x | 2.97 | x | 1.95 | x | 1.00 | x | (a) | (a) | |||||||||||||||||
Ratio of Earnings to Fixed Charges and Preferred Dividends: | |||||||||||||||||||||||||||
Excluding interest on deposits | 6.77 | x | 4.16 | x | 2.50 | x | (a) | (a) | (a) | ||||||||||||||||||
Including interest on deposits | 3.50 | x | 2.48 | x | 1.64 | x | (a) | (a) | (a) | ||||||||||||||||||
(a) Ratios for the periods indicated were less than one, as earnings were inadequate to cover fixed charges. The dollar amount of the coverage deficiency for each affected period is presented below. The amount is the same whether including or excluding interest on deposits (dollars in thousands). | |||||||||||||||||||||||||||
Coverage deficiency - earnings to fixed charges | — | $ | (50,380 | ) | $ | (153,993 | ) | ||||||||||||||||||||
Coverage deficiency - earnings to fixed charges and preferred stock dividends | $ | (13,543 | ) | $ | (62,823 | ) | $ | (154,539 | ) |