EX-12 2 fbp09302016x10q_ex121.htm EXHIBIT 12.1  

 

 

 

 

 

 

 

 

 

 

Exhibit 12.1

 

 

 

 

 

 

First BanCorp

 

Computation of Ratio of Earnings to Fixed Charges

 

 

 

 

 

 

 

 

 Nine-Month Period Ended

 

 

 

 September 30, 2016

 

 

 

 

 

Including Interest on Deposits

 

 

 

 

Earnings:

 

 

 

 

                    Pre-tax income from continuing operations

 

$

93,061

 

         Plus:

 

 

 

 

                    Fixed Charges (excluding capitalized interest)

 

 

81,084

 

 

 

 

 

 

Total earnings

 

$

174,145

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

                    Interest expensed and capitalized

 

$

78,284

 

                    An estimate of the interest component within rental expense

 

 

2,800

 

Total Fixed Charges

 

$

81,084

 

Ratio of Earnings to Fixed Charges

 

 2.15  

 

 

 

 

 

 

Excluding Interest on Deposits

 

 

 

 

Earnings:

 

 

 

 

                    Pre-tax income from continuing operations

 

$

93,061

 

         Plus:

 

 

 

 

                    Fixed Charges (excluding capitalized interest)

 

 

29,859

 

 

 

 

 

 

Total earnings

 

$

122,920

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

                    Interest expensed and capitalized

 

$

27,061

 

                    An estimate of the interest component within rental expense

 

 

2,800

 

 

 

 

 

 

Total Fixed Charges

 

$

29,861

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

 4.12