Exhibit 12.0
Intervest Bancshares Corporation and Subsidiaries
Computation of Ratios of Earnings to Fixed Charges
For the Year Ended December 31, 2012 | ||||
($ in thousands) | Intervest Bancshares Corporation Consolidated | Intervest Bancshares (stand alone) | ||
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Earnings before income taxes (1) | $22,529 | $(2,352) | ||
Fixed charges, excluding interest on deposits (2) | 4,037 | 3,649 | ||
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Earnings before income taxes and fixed charges, excluding interest on deposits | 26,566 | 1,297 | ||
Interest on deposits | 35,831 | - | ||
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Earnings before income taxes and fixed charges, including interest on deposits | $62,397 | $1,297 | ||
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Earnings to fixed charges ratios: | ||||
Excluding interest on deposits | 6.58 x | 0.36 x | ||
Including interest on deposits | 1.57 x | 0.36 x | ||
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For the Year Ended December 31, 2011 | ||||
($ in thousands) | Intervest Bancshares Corporation Consolidated | Intervest Bancshares (stand alone) | ||
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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 | $1,107 | ||
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Earnings to fixed charges ratios: | ||||
Excluding interest on deposits | 5.43 x | 0.29 x | ||
Including interest on deposits | 1.40 x | 0.29 x | ||
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For the Year Ended December 31, 2010 | ||||
($ in thousands) | Intervest Bancshares Corporation Consolidated | Intervest Bancshares (stand alone) | ||
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(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 | ||
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(1) IBC’s stand alone earnings before income taxes include dividends received from INB, its wholly-owned subsidiary, for purposes of this calculation – none were paid 2012, 2011 and 2010. 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, 2012 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.