EX-12 9 g67104ex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 1 EXHIBIT 12 R&G Financial Corporation Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
Formula 9/30/00 9/30/99 12/31/99 12/31/98 12/31/97 12/31/96 12/31/95 ----------- -------- -------- -------- -------- -------- -------- -------- (Dollars in Thousands) A. Pre-Tax Net Income $ 40,885 $ 42,627 $ 53,574 $ 45,074 $32,229 $19,122 $16,296 ======== ======== ======== ======== ======= ======= ======= Plus: B. Interest Expense Total 122,524 74,202 106,564 80,324 60,805 44,863 32,239 C. Rental Expense(1) 1,130 883 1,224 929 745 651 574 -------- -------- -------- -------- ------- ------- ------- D. Fixed Charges (including 123,654 75,085 107,788 81,253 61,550 45,514 32,813 interest on deposits) B+C E. Less: Interest on Deposits 57,496 38,273 53,643 38,439 32,435 27,518 21,829 -------- -------- -------- -------- ------- ------- ------- F. Fixed Charges (excluding interest on deposits) D-E 66,158 36,812 54,145 42,814 29,115 17,996 10,984 -------- -------- -------- -------- ------- ------- ------- G. Earnings A+D $164,539 $117,712 $161,362 $126,327 $93,779 $64,636 $49,109 ======== ======== ======== ======== ======= ======= ======= H. Dividends on Preferred Stock 4,228 2,775 3,754 1,233 -- -- -- Historical Ratio of Earnings to Fixed Charges: Including interest on deposits G/(D+H) 1.29% 1.51% 1.45% 1.53% 1.52% 1.42% 1.50% Excluding interest on deposits (G-E)/(F+H) 1.52 2.01 1.86 2.00 2.11 2.06 2.48 (1) Only portion attributable to interest: Rental expense 3,767 2,942 4,081 3,097 2,483 2,171 1,914 Estimated Interest Factor 30% 30% 30% 30% 30% 30% 30%