EX-12.1 5 ex12.htm EXHIBIT 12.1 ex12.htm
EXHIBIT 12





WESBANCO, INC.
Computations of Consolidated Ratios of Earnings to Fixed Charges
(Dollars in thousands - unaudited)
                   
     
For the three months
   
For the twelve months
   
     
ended March 31,
   
ended December 31,
   
     
2009
 
2008
2007
2006
2005
2004
Excluding Interest on Deposits:
             
                   
Fixed Charges:
               
Interest Expense (excluding
             
 
interest on deposits)
 $                          9,240
 
 $   36,203
 $    27,791
 $    30,672
 $  34,255
 $  20,626
Interest Factor Within Rent
             
 
Expense (1)
 
                                   179
 
             829
             777
              742
            763
            545
Preferred Stock Dividend (2)
                               1,055
 
             293
                 -
                  -
                -
                -
 
Total Fixed Charges
                             10,474
 
       37,325
       28,568
          31,414
       35,018
         21,171
                   
Earnings:
                 
Income before Income Taxes
 $                           6,201
 
 $    42,610
 $   52,690
 $    48,298
 $  54,479
 $   47,158
Fixed Charges (excluding Preferred Dividends)
                               9,419
 
       37,032
       28,568
          31,414
       35,018
         21,171
 
Total Earnings
 
                             15,620
 
       79,642
        81,258
         79,712
      89,497
      68,329
                   
Ratio of Earnings to Fixed
               
 
Charges, Excluding Interest
             
 
on Deposits
 
1.49
 
2.13
2.84
2.54
2.56
3.23
                   
Including Interest on Deposits:
             
                   
Fixed Charges:
               
Interest Expense
 
 $                        25,074
 
 $  121,229
 $  117,080
 $  104,436
 $  92,434
 $   60,212
Interest Factor Within Rent
             
 
Expense (1)
 
                                   179
 
             829
             777
              742
            763
            545
Preferred Stock Dividend (2)
                               1,055
 
             293
                 -
                  -
                -
                -
 
Total Fixed Charges
                            26,308
 
      122,351
      117,857
       105,178
       93,197
      60,757
                   
Earnings:
                 
Income Before Income Taxes
 $                           6,201
 
 $    42,610
 $   52,690
 $    48,298
 $  54,479
 $   47,158
Fixed Charges (excluding preferred dividends)
                            25,253
 
     122,058
      117,857
       105,178
       93,197
      60,757
 
Total Earnings
 
                             31,454
 
     164,668
     170,547
      153,476
     147,676
      107,915
                   
Ratio of Earnings to Fixed
               
 
Charges, Including Interest on
             
 
Deposits
 
1.20
 
1.35
1.45
1.46
1.58
1.78
(1) The portion of rents shown as representative of the interest factor is one-third of total net operating lease expenses.
     
(2) Represents the dividend accrued on the Series A Preferred Stock for the period ended March 31, 2009.