Exhibit 12
PrivateBancorp, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)
Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income before income taxes | $ | 213,012 | $ | 248,207 | $ | 199,943 | $ | 132,417 | $ | 70,200 | $ | 64 | ||||||||||||
Fixed charges, excluding interest on deposits | 15,403 | 27,699 | 30,462 | 24,289 | 23,947 | 32,931 | ||||||||||||||||||
Earnings before fixed charges, excluding interest on deposits | 228,415 | 275,906 | 230,405 | 156,706 | 94,147 | 32,995 | ||||||||||||||||||
Interest on deposits | 34,742 | 41,951 | 40,713 | 42,814 | 50,072 | 74,037 | ||||||||||||||||||
Earnings before fixed charges, including interest on deposits | $ | 263,157 | $ | 317,857 | $ | 271,118 | $ | 199,520 | $ | 144,219 | $ | 107,032 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense, excluding interest on deposits | $ | 15,403 | $ | 27,699 | $ | 30,462 | $ | 24,289 | $ | 23,947 | $ | 32,931 | ||||||||||||
Interest on deposits | 34,742 | 41,951 | 40,713 | 42,814 | 50,072 | 74,037 | ||||||||||||||||||
Total fixed charges, including interest on deposits | $ | 50,145 | $ | 69,650 | $ | 71,175 | $ | 67,103 | $ | 74,019 | $ | 106,968 | ||||||||||||
Fixed Charges and Preferred Stock Dividends: | ||||||||||||||||||||||||
Interest expense, excluding interest on deposits | $ | 15,403 | $ | 27,699 | $ | 30,462 | $ | 24,289 | $ | 23,947 | $ | 32,931 | ||||||||||||
Preferred stock dividends | — | — | — | 13,368 | 13,690 | 13,607 | ||||||||||||||||||
Total fixed charges and preferred stock dividends, excluding interest on deposits | 15,403 | 27,699 | 30,462 | 37,657 | 37,637 | 46,538 | ||||||||||||||||||
Interest on deposits | 34,742 | 41,951 | 40,713 | 42,814 | 50,072 | 74,037 | ||||||||||||||||||
Total fixed charges and preferred stock dividends, including interest on deposits | $ | 50,145 | $ | 69,650 | $ | 71,175 | $ | 80,471 | $ | 87,709 | $ | 120,575 | ||||||||||||
Ratio of Earnings to Fixed Charges: | ||||||||||||||||||||||||
Excluding interest on deposits | 14.83 | x | 9.96 | x | 7.56 | x | 6.45 | x | 3.93 | x | 1.00 | x | ||||||||||||
Including interest on deposits | 5.25 | x | 4.56 | x | 3.81 | x | 2.97 | x | 1.95 | x | 1.00 | x | ||||||||||||
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends: | ||||||||||||||||||||||||
Excluding interest on deposits | 14.83 | x | 9.96 | x | 7.56 | x | 4.16 | x | 2.50 | x | (a) | |||||||||||||
Including interest on deposits | 5.25 | x | 4.56 | x | 3.81 | x | 2.48 | x | 1.64 | x | (a) | |||||||||||||
(a) Ratios for the period indicated was less than one, as earnings were inadequate to cover fixed charges. The dollar amount of the coverage deficiency for such period was $13.5 million. The amount is the same whether including or excluding interest on deposits. |