EX-12 4 ex120.htm RATIO OF EARNINGS TO FIXED CHARGES ex120.htm

EXHIBIT 12
 
WESBANCO, INC.
Computations of Consolidated Ratios of Earnings to Fixed Charges
(Dollars in thousands - unaudited)
                   
       
For the six months
     For the twelve months
     
    ended June 30,     
 
  ended December 31,
     
2009
 
2008
2007
2006
2005
2004
Excluding Interest on Deposits:
             
                   
Fixed Charges:
               
Interest Expense (excluding interest on deposits)
 $                        18,094
 
 $        36,203
 $         27,791
 $        30,672
 $     34,255
 $     20,626
Interest Factor Within Rent Expense (1)
                                 387
 
                  829
                  777
                  742
               763
               545
Preferred Stock Dividend (2)
                               2,112
 
                  293
                      -
                      -
                   -
                   -
 
Total Fixed Charges
                           20,593
 
            37,325
            28,568
              31,414
          35,018
            21,171
                   
Earnings:
                 
Income before Income Taxes
 $                         11,947
 
 $         42,610
 $        52,690
 $        48,298
 $     54,479
 $      47,158
Fixed Charges (excluding preferred dividends)
                             18,481
 
            37,032
            28,568
              31,414
          35,018
            21,171
 
Total Earnings
 
                           30,428
 
            79,642
             81,258
             79,712
         89,497
         68,329
                   
Ratio of Earnings to Fixed Charges, Excluding
             
 
Interest on Deposits
1.48
 
2.13
2.84
2.54
2.56
3.23
                   
Including Interest on Deposits:
             
                   
Fixed Charges:
               
Interest Expense
 
 $                        51,902
 
 $        121,229
 $        117,080
 $       104,436
 $     92,434
 $      60,212
Interest Factor Within Rent Expense (1)
                                 387
 
                  829
                  777
                  742
               763
               545
Preferred Stock Dividend (2)
                               2,112
 
                  293
                      -
                      -
                   -
                   -
 
Total Fixed Charges
                            54,401
 
            122,351
            117,857
            105,178
          93,197
         60,757
                   
Earnings:
                 
Income Before Income Taxes
 $                         11,947
 
 $         42,610
 $        52,690
 $        48,298
 $     54,479
 $      47,158
Fixed Charges (excluding preferred dividends)
                           52,289
 
           122,058
            117,857
            105,178
          93,197
         60,757
 
Total Earnings
 
                           64,236
 
           164,668
           170,547
           153,476
        147,676
         107,915
                   
Ratio of Earnings to Fixed Charges, Including
             
 
Interest on Deposits
1.18
 
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 June 30, 2009.