EXHIBIT 12
PrivateBancorp, Inc.
Computation of Earnings to Fixed Charges
(dollars in thousands)
| Year Ended December 31 | ||||||||||||||||||||
| 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Income (loss) before income taxes | $ | 64 | $ | (50,380 | ) | $ | (153,993 | ) | $ | 13,969 | $ | 54,734 | ||||||||
Fixed charges, excluding interest on deposits | 32,931 | 42,112 | 38,277 | 26,841 | 17,426 | |||||||||||||||
Earnings excluding interest on deposits | $ | 32,995 | $ | (8,268 | ) | $ | (115,716 | ) | $ | 40,810 | $ | 72,160 | ||||||||
Interest on deposits | 74,037 | 111,616 | 176,710 | 154,045 | 122,411 | |||||||||||||||
Earnings including interest on deposits | $ | 107,032 | $ | 103,348 | $ | 60,994 | $ | 194,855 | $ | 194,571 | ||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense, excluding interest on deposits | $ | 32,931 | $ | 42,112 | $ | 38,277 | $ | 26,841 | $ | 17,426 | ||||||||||
Interest on deposits | 74,037 | 111,616 | 176,710 | 154,045 | 122,411 | |||||||||||||||
Total fixed charges, including interest on deposits | $ | 106,968 | $ | 153,728 | $ | 214,987 | $ | 180,886 | $ | 139,837 | ||||||||||
Fixed Charges and preferred stock dividends: | ||||||||||||||||||||
Interest expense, excluding interest on deposits | $ | 32,931 | $ | 42,112 | $ | 38,277 | $ | 26,841 | $ | 17,426 | ||||||||||
Preferred stock dividends | 13,607 | 12,443 | 546 | 107 | - | |||||||||||||||
Total fixed charges and preferred stock dividends, excluding interest on deposits | $ | 46,538 | $ | 54,555 | $ | 38,823 | $ | 26,948 | $ | 17,426 | ||||||||||
Interest on deposits | 74,037 | 111,616 | 176,710 | 154,045 | 122,411 | |||||||||||||||
Total fixed charges and preferred stock dividends, including interest on deposits | $ | 120,575 | $ | 166,171 | $ | 215,533 | $ | 180,993 | $ | 139,837 | ||||||||||
Ratio to Earnings to Fixed Charges: | ||||||||||||||||||||
Excluding interest on deposits | 1.00 | X | (0.20 | ) X | (3.02 | ) X | 1.52 | X | 4.14 | X | ||||||||||
Including interest on deposits | 1.00 | X | 0.67 | X | 0.28 | X | 1.08 | X | 1.39 | X | ||||||||||
Ratio of Earnings to Fixed Charges and preferred stock dividends: | ||||||||||||||||||||
Excluding interest on deposits | 0.71 | X | (0.15 | ) X | (2.98 | ) X | 1.51 | X | 4.14 | X | ||||||||||
Including interest on deposits | 0.89 | X | 0.62 | X | 0.28 | X | 1.08 | X | 1.39 | X | ||||||||||
* The earnings for the years ended December 31, 2009 and December 31, 2008 (excluding deposit interest) were inadequate to cover total fixed charges for the year. The coverage deficiencies for 2009 and 2008 were $61.2 million and $22.7 million excluding preferred dividends, respectively, and $73.7 million and $23.3 million including preferred dividends, respectively.