Exhibit 12.0
Intervest Bancshares Corporation and Subsidiaries
Computation of Ratios of Earnings to Fixed Charges
For the Year Ended December 31, 2011 | ||||||||
($ in thousands) | Intervest Bancshares Corporation Consolidated | Intervest Bancshares Corporation (stand alone) | ||||||
Earnings before income taxes (1) | $ | 20,758 | $ | (2,695 | ) | |||
Fixed charges, excluding interest on deposits (2) | 4,688 | 3,802 | ||||||
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Earnings before income taxes and fixed charges, excluding interest on deposits | 25,446 | 1,107 | ||||||
Interest on deposits | 47,582 | — | ||||||
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Earnings before income taxes and fixed charges, including interest on deposits | $ | 73,028 | $ | 1,107 | ||||
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Earnings to fixed charges ratios: | ||||||||
Excluding interest on deposits | 5.43 x | 0.29 x | ||||||
Including interest on deposits | 1.40 x | 0.29 x |
For the Year Ended December 31, 2010 | ||||||||
($ in thousands) | Intervest Bancshares Corporation Consolidated | Intervest Bancshares Corporation (stand alone) | ||||||
(Loss) earnings before income taxes (1) | $ | (93,656 | ) | $ | (2,761 | ) | ||
Fixed charges, excluding interest on deposits (2) | 5,372 | 3,815 | ||||||
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(Loss) earnings before income taxes and fixed charges, excluding interest on deposits | (88,284 | ) | 1,054 | |||||
Interest on deposits | 58,987 | — | ||||||
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(Loss) earnings before income taxes and fixed charges, including interest on deposits | $ | (29,297 | ) | $ | 1,054 | |||
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Earnings to fixed charges ratios: | ||||||||
Excluding interest on deposits | -16.43 x | 0.28 x | ||||||
Including interest on deposits | -0.46 x | 0.28 x |
For the Year Ended December 31, 2009 | ||||||||
($ in thousands) | Intervest Bancshares Corporation Consolidated | Intervest Bancshares Corporation (stand alone) | ||||||
Earnings before income taxes (1) | $ | 4,946 | $ | 1,170 | ||||
Fixed charges, excluding interest on deposits (2) | 7,104 | 4,345 | ||||||
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Earnings before income taxes and fixed charges, excluding interest on deposits | 12,050 | 5,515 | ||||||
Interest on deposits | 75,528 | — | ||||||
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Earnings before income taxes and fixed charges, including interest on deposits | $ | 87,578 | $ | 5,515 | ||||
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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 |
(1) | IBC’s stand alone earnings before income taxes includes dividends received from INB, its wholly-owned subsidiary, for purposes of this calculation as follows: none in 2011 and 2010 and $3,933,000 in 2009. In 2010, INB was required by its primary regulator to suspend its dividend payments to IBC. See the section “Supervision and Regulation” in Item 1 “Business” of IBC’s annual report on Form 10-K for the year ended December 31, 2011 for further discussion of this restriction imposed on INB. |
(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. |