Sterling Bancorp 10-K 2011 FY Annual report

E X H I B I T   1 2

S T E R L I N G     B A N C O R P    A N D    S U B S I D I A R I E S

S T A T E M E N T     R E    C O M P U T A T I O N    O F    R A T I O S

	Years Ended December 31,
	2011			2010			2009
Fixed Charges and Preferred Dividends:
Interest expense	$	12,987		$	15,583		$	19,295
Capitalized debt expense trust preferred		44			44			44
Estimated interest in rent		1,889			1,738			1,551
Pre-tax amount of preferred dividends		2,569			3,384			4,217
Fixed charges and preferred dividends (B)		17,489			20,749			25,107
Less interest on deposits		(8,438	)		(9,588	)		(11,889	)
Fixed charges and preferred dividends excluding interest on deposits (D)	$	9,051		$	11,161		$	13,218
Earnings:
Pre-tax income	$	21,792		$	9,184		$	14,330
Fixed charges and preferred dividends		17,489			20,749			25,107
Total earnings (A)		39,281			29,933			39,437
Less interest on deposits		(8,438	)		(9,588	)		(11,889	)
Total earnings excluding interest on deposits (C)	$	30,843		$	20,345		$	27,548
Ratio of earnings to fixed charges and preferred dividends
Including interest on deposits (A)/(B)		2.25x			1.44x			1.57x
Excluding interest on deposits (C)/(D)		3.41x			1.82x			2.08x