EXHIBIT (12)
Page 1
Republic Bancorp Inc.
Calculations of Ratios of Earnings to Combined Fixed Charges and Dividends on
Trust
Preferred Securities and Preferred Stock of Subsidiary
For the Three Months Ended
(in thousands) March 31,
-----------------------------
2002 2001
----------- -----------
Including Interest on Deposits:
Fixed charges:
Total interest expense $ 35,873 $ 54,512
Interest portion of rent expense 184 252
Dividends on trust preferred securities and
preferred stock of subsidiary 1,756 681
----------- -----------
Fixed charges including interest on deposits $ 37,813 $ 55,445
=========== ===========
Earnings:
Net income $ 14,118 $ 799
Income taxes 6,168 389
Fixed charges, as above 37,813 55,445
----------- -----------
Earnings for purposes of calculation $ 58,099 $ 56,633
=========== ===========
Ratio of earnings to combined fixed charges and
dividends on trust preferred securities and preferred
stock of subsidiary including interest on deposits 1.54 x 1.02 x
Excluding Interest on Deposits:
Fixed charges:
Total interest expense excluding interest on deposits $ 15,233 $ 21,498
Interest portion of rent expense 184 252
Dividends on trust preferred securities and preferred
stock of subsidiary 1,756 681
----------- -----------
Fixed charges excluding interest on deposits $ 17,173 $ 22,431
=========== ===========
Earnings:
Net income $ 14,118 $ 799
Income taxes 6,168 389
Fixed charges, as above 17,173 22,431
----------- -----------
Earnings for purposes of calculation $ 37,459 $ 23,619
=========== ===========
Ratio of earnings to combined fixed charges and dividends
on trust preferred securities and preferred stock of
stock of subsidiary excluding interest on deposits 2.18 x 1.05 x
EXHIBIT (12)
Page 2
Republic Bancorp Inc.
Calculations of Ratios of Earnings to Combined Fixed Charges
For the Three Months Ended
--------------------------
(in thousands) March 31,
----------- ----------
2002 2001
----------- ----------
Including Interest on Deposits:
Fixed charges:
Total interest expense $ 35,873 $ 54,512
Interest portion of rent expense 184 252
---------- ----------
Fixed charges including interest on deposits $ 36,057 $ 54,764
========== ==========
Earnings:
Net income $ 14,118 $ 799
Income taxes 6,168 389
Fixed charges, as above 36,057 54,764
---------- ----------
Earnings for purposes of calculation $ 56,343 $ 55,952
========== ==========
Ratio of earnings to combined fixed charges including
interest on deposits 1.56 x 1.02 x
Excluding Interest on Deposits:
Fixed charges:
Total interest expense excluding interest on deposits $ 15,233 $ 21,498
Interest portion of rent expense 184 252
---------- ----------
Fixed charges excluding interest on deposits $ 15,417 $ 21,750
========== ==========
Earnings:
Net income $ 14,118 $ 799
Income taxes 6,168 389
Fixed charges, as above 15,417 21,750
---------- ----------
Earnings for purposes of calculation $ 35,703 $ 22,938
========== ==========
Ratio of earnings to combined fixed charges excluding
interest on deposits 2.32 x 1.05 x