EXHIBIT 12.1

PRINCETON NATIONAL BANCORP, INC.
Ratio of Earnings to Fixed Charges and Preferred Dividends

	2008			2007			2006			2005			2004
Ratio of Earnings to Fixed Charges:
Excluding interest on deposits		356.41	%		294.86	%		298.60	%		607.07	%		2016.88	%
Including interest on deposits		133.05	%		123.61	%		127.22	%		162.52	%		200.18	%
(dollars in thousands)
Excluding interest on deposits
Income before income taxes		9,023			8,147			7,521			9,832			9,086
Fixed charges (excluding interest on deposits)		3,519			4,181			3,787			1,939			474
Total income before income taxes plus fixed charges		12,542			12,328			11,308			11,771			9,560
Including interest on deposits
Income before income taxes		9,023			8,147			7,521			9,832			9,086
Fixed charges (including interest on deposits)		27,301			34,505			27,630			15,726			9,070
Total income before income taxes plus fixed charges		36,324			42,652			35,151			25,558			18,156