PrivateBancorp (PVTB) 10-Q 2014 Q1 Quarterly report

Exhibit 12

PrivateBancorp, Inc.

Computation of Ratio of Earnings to Fixed Charges

(Dollars in thousands)

	Quarter Ended March 31,			Year Ended December 31,
	2014			2013			2012			2011			2010				2009
Earnings:
Income (loss) before income taxes	$	55,531		$	199,943		$	132,417		$	70,200		$	64			$	(50,380	)
Fixed charges, excluding interest on deposits	6,684			30,462			24,289			23,947			32,931				42,112
Earnings before fixed charges, excluding interest on deposits	62,215			230,405			156,706			94,147			32,995				(8,268		)
Interest on deposits	9,722			40,713			42,814			50,072			74,037				111,616
Earnings before fixed charges, including interest on deposits	$	71,937		$	271,118		$	199,520		$	144,219		$	107,032			$	103,348
Fixed Charges:
Interest expense, excluding interest on deposits	$	6,684		$	30,462		$	24,289		$	23,947		$	32,931			$	42,112
Interest on deposits	9,722			40,713			42,814			50,072			74,037				111,616
Total fixed charges, including interest on deposits	$	16,406		$	71,175		$	67,103		$	74,019		$	106,968			$	153,728
Fixed Charges and Preferred Stock Dividends:
Interest expense, excluding interest on deposits	$	6,684		$	30,462		$	24,289		$	23,947		$	32,931			$	42,112
Preferred stock dividends	—			—			13,368			13,690			13,607				12,443
Total fixed charges and preferred stock dividends, excluding interest on deposits	6,684			30,462			37,657			37,637			46,538				54,555
Interest on deposits	9,722			40,713			42,814			50,072			74,037				111,616
Total fixed charges and preferred stock dividends, including interest on deposits	$	16,406		$	71,175		$	80,471		$	87,709		$	120,575			$	166,171
Ratio of Earnings to Fixed Charges:
Excluding interest on deposits	9.31		x	7.56		x	6.45		x	3.93		x	1.00			x	(a)
Including interest on deposits	4.38		x	3.81		x	2.97		x	1.95		x	1.00			x	(a)
Ratio of Earnings to Fixed Charges and Preferred Dividends:
Excluding interest on deposits	9.31		x	7.56		x	4.16		x	2.50		x	(a)				(a)
Including interest on deposits	4.38		x	3.81		x	2.48		x	1.64		x	(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	)
Coverage deficiency - earnings to fixed charges and preferred stock dividends													$	(13,543	)		$	(62,823	)