EX-12 9 dex12.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement re: Computation of Ratio of Earnings to Fixed Charges

Exhibit 12

First Midwest Bancorp, Inc.
Ratio of Earnings to Fixed Charges (1)
(Dollar Amounts in Thousands)

Years ended December 31,

2007

2006

2005

2004

2003

Ratio 1 - Including Interest on Deposits

Earnings available for fixed charges:

Income from continuing operations

$

80,159

$

117,246

$

101,377

$

99,136

$

92,778

Add:

Income tax provision

13,853

35,052

34,452

32,848

30,889

Fixed charges

237,930

225,585

131,690

87,185

81,964

Total earnings available for fixed charges

$

331,942

$

377,883

$

267,519

$

219,169

$

205,631

Fixed charges (2)

Interest on deposits

$

166,267

$

148,118

$

86,675

$

57,432

$

56,272

Interest on borrowed funds

55,540

62,974

35,834

20,980

23,962

Interest on subordinated debt

15,025

13,458

8,341

8,066

1,079

Portion of rental expense representative

of interest factor

1,098

1,035

840

707

651

Total fixed charges

$

237,930

$

225,585

$

131,690

$

87,185

$

81,964

Ratio of earnings to fixed charges

1.40

x

1.68

x

2.03

x

2.51

x

2.51

x

Ratio 2 - Excluding Interest on Deposits

Earnings available for fixed charges:

Income from continuing operations

$

80,159

$

117,246

$

101,377

$

99,136

$

92,778

Add:

Income tax provision

13,853

35,052

34,452

32,848

30,889

Fixed charges

71,663

77,467

45,015

29,753

25,692

Total earnings available for fixed charges

$

165,675

$

229,765

$

180,844

$

161,737

$

149,359

Fixed charges (2):

Interest on borrowed funds

$

55,540

$

62,974

$

35,834

$

20,980

$

23,962

Interest on subordinated debt

15,025

13,458

8,341

8,066

1,079

Portion of rental expense representative

of interest factor

1,098

1,035

840

707

651

Total fixed charges

$

71,663

$

77,467

$

45,015

$

29,753

$

25,692

Ratio of earnings to fixed charges

2.31

x

2.97

x

4.02

x

5.44

x

5.81

x

(1)

The ratio of earnings to fixed charges represents the number of times "fixed charges" are covered by "earnings."

(2)

"Fixed charges" consist of interest on outstanding debt plus one-third (the proportion deemed representative of the interest factor) of

operating lease expense.