EX-12 10 ex12_10kx2013.htm EXHIBIT 12 EX12_10K_2013


Exhibit 12
FIRSTMERIT CORPORATION
Computations of Consolidated Ratios of Earnings to Fixed Charges (unaudited)
 
 
 
 
 
 
 
 
 
Year Ended December 31,
(Dollars in thousands)
 
2013
2012
2011
2010
2009
Excluding Interest on Deposits:
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
Interest Expense (excluding interest on deposits)
 
$
18,420

$
5,580

$
9,639

$
18,475

$
32,081

Interest Factor Within Rent Expense (a)
 
4,122

2,669

2,366

2,661

1,870

   Total Fixed Charges
 
22,542

8,249

12,005

21,136

33,951

   Preferred Stock dividends
 
5,537




1,789

   Total Fixed Charges and Preferred Stock Dividends
 
$
28,079

$
8,249

$
12,005

$
21,136

$
35,740

 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
Income Before Income Taxes
 
$
260,110

$
187,123

$
165,651

140,000

$
107,815

Fixed Charges - Excluding Preferred Stock Dividends
 
22,542

8,249

12,005

21,136

33,951

   Total Earnings
 
$
282,652

$
195,372

$
177,656

$
161,136

$
141,766

 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges,
 
 
 
 
 
 
   Excluding Interest on Deposits
 
12.54

23.68

14.80

7.62

4.18

Ratio of Earnings to Combined Fixed Charges,
 
 
 
 
 
 
   Excluding Interest on Deposits
 
10.07

23.68

14.80

7.62

3.97

 
 
 
 
 
 
 
Including Interest on Deposits:
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
Interest Expense
 
$
55,018

$
38,853

$
58,629

$
83,851

$
110,763

Interest Factor Within Rent Expense (a)
 
4,122

2,669

2,366

2,661

1,870

   Total Fixed Charges
 
59,140

41,522

60,995

86,512

112,633

   Preferred Stock dividends
 
5,537




1,789

   Total Fixed Charges and Preferred Stock Dividends
 
$
64,677

$
41,522

$
60,995

$
86,512

$
114,422

 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
Income Before Income Taxes
 
$
260,110

$
187,123

$
165,651

$
140,000

$
107,815

Fixed Charges - Excluding Preferred Stock Dividends
 
59,140

41,522

60,995

86,512

112,633

   Total Earnings
 
$
319,250

$
228,645

$
226,646

$
226,512

$
220,448

 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges,
 
 
 
 
 
 
   Including Interest on Deposits
 
5.40

5.51

3.72

2.62

1.96

Ratio of Earnings to Combined Fixed Charges,
 
 
 
 
 
 
   Including Interest on Deposits
 
4.94

5.51

3.72

2.62

1.93

 
 
 
 
 
 
 
 (a) The portion of rents shown as representative of the interest factor is one-third of total net operating lease expenses.