Exhibit 12
Intervest Bancshares Corporation and Subsidiaries
Computation of Ratios of Earnings to Fixed Charges
For the Year Ended December 31, 2009 | ||||||||
Intervest Bancshares | Intervest Bancshares | |||||||
Corporation | Corporation | |||||||
($ in thousands) | Consolidated | (stand alone) | ||||||
Earnings before income taxes (1) | $ 4,946 | $1,170 | ||||||
Fixed charges, excluding interest on deposits (2) | 7,104 | 4,345 | ||||||
Earnings before income taxes and fixed charges, excluding interest on deposits | 12,050 | 5,515 | ||||||
Interest on deposits | 75,528 | - | ||||||
Earnings before income taxes and fixed charges, including interest on deposits | $87,578 | $5,515 | ||||||
Earnings to fixed charges ratios: | ||||||||
Excluding interest on deposits | 1.70 x | 1.27 x | ||||||
Including interest on deposits | 1.06 x | 1.27 x |
For the Year Ended December 31, 2008 | ||||||||
Intervest Bancshares | Intervest Bancshares | |||||||
Corporation | Corporation | |||||||
($ in thousands) | Consolidated | (stand alone) | ||||||
Earnings before income taxes (1) | $ 13,157 | $ 138 | ||||||
Fixed charges, excluding interest on deposits (2) | 9,740 | 3,537 | ||||||
Earnings before income taxes and fixed charges, excluding interest on deposits | 22,897 | 3,675 | ||||||
Interest on deposits | 80,636 | - | ||||||
Earnings before income taxes and fixed charges, including interest on deposits | $103,533 | $3,675 | ||||||
Earnings to fixed charges ratios: | ||||||||
Excluding interest on deposits | 2.35 x | 1.04 x | ||||||
Including interest on deposits | 1.15 x | 1.04 x |
For the Year Ended December 31, 2007 | ||||||||
Intervest Bancshares | Intervest Bancshares | |||||||
Corporation | Corporation | |||||||
($ in thousands) | Consolidated | (stand alone) | ||||||
Earnings before income taxes (1) | $ 34,452 | $ 292 | ||||||
Fixed charges, excluding interest on deposits (2) | 11,106 | 3,647 | ||||||
Earnings before income taxes and fixed charges, excluding interest on deposits | 45,558 | 3,939 | ||||||
Interest on deposits | 78,547 | - | ||||||
Earnings before income taxes and fixed charges, including interest on deposits | $124,105 | $3,939 | ||||||
Earnings to fixed charges ratios: | ||||||||
Excluding interest on deposits | 4.10 x | 1.08 x | ||||||
Including interest on deposits | 1.38 x | 1.08 x |
(1) | IBC’s stand alone earnings before income taxes includes dividends received from Intervest National Bank, its wholly-owned subsidiary, for purposes of this calculation as follows: $3,933,000 in 2009, $3,507,000 in 2008 and $3,540,000 in 2007. |
(2) | Fixed charges for purposes of this calculation represent the aggregate of interest expense on debentures and other short-term borrowings, amortization of debenture offering costs and preferred stock dividend requirements, which are comprised of preferred stock dividends and related preferred stock discount amortization. |