EX-12.1 3 ex12p1.htm ex12p1.htm
 
Exhibit 12.1
 
Farmers Capital Bank Corporation
Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends
Dollars in thousands
(Unaudited)
 
     
Six months ended June 30,
    
Twelve months ended December 31,
     
2009
    
2008
    
2008
    
2007
    
2006
    
2005
    
2004
  
                                             
   
Earnings
                                        
1.  
Pretax income - continuing operations
   3,301     12,327       3,181       19,914       17,025       18,323       16,063  
2.  
Fixed charges and Preferred Dividends (includes interest on deposits)
   25,743     29,064       55,327       56,241       41,608       24,514       16,779  
3.  
Total earnings including interest on deposits
   29,044     41,391       58,508       76,155       58,633       42,837       32,842  
4.  
Interest on deposits
   (17,155 )   (20,709 )      (39,045 )     (45,157 )     (32,554 )     (19,130 )     (13,381 )
5.  
Total earnings excluding interest on deposits
   11,889     20,682       19,463       30,998       26,079       23,707       19,461  
                                                         
                                                         
   
Fixed Charges and Preferred Dividends
                                                    
6.  
Interest expense
   24,166     28,966       55,130       56,039       41,432       24,409       16,729  
7.  
Preferred Stock dividends grossed up for tax @35%
   1,097     -       -       -       -       -       -  
8.  
Preferred stock discount accretion grossed up for tax @35%
   249     -       -       -       -       -       -  
9.  
Interest estimate - rental expense
   231     98       197       202       176       105       50  
10.  
Total fixed charges and preferred dividends including interest on deposits
   25,743     29,064       55,327       56,241       41,608       24,514       16,779  
11.  
Interest on deposits
   (17,155 )   (20,709 )     (39,045 )     (45,157 )     (32,554 )     (19,130 )     (13,381 )
12.  
Total fixed charges and preferred dividends excluding interest on deposits
   8,588     8,355       16,282       11,084       9,054       5,384       3,398  
                                                         
                                                         
   
Ratio of Earnings to Fixed Charges and Preferred Dividends:
                                                    
   
Excluding Interest on Deposits (line 5 divided by line 12)
   1.4     2.5       1.2       2.8       2.9       4.4       5.7  
   
Including Interest on Deposits (line 3 divided by line 10)
   1.1     1.4       1.1       1.4       1.4       1.7       2.0