EX-12 4 dex12.htm RATIO OF EARNINGS Ratio of Earnings

Exhibit 12

Intervest Bancshares Corporation and Subsidiaries

Computation of Ratios of Earnings to Fixed Charges

 

         

For the Year Ended December 31, 2009

     Intervest Bancshares        Intervest Bancshares  
          Corporation         Corporation  
  ($ in thousands)          Consolidated          (stand alone)  

  Earnings before income taxes (1)

       $  4,946       $1,170  

  Fixed charges, excluding interest on deposits (2)

       7,104         4,345  

  Earnings before income taxes and fixed charges, excluding interest on deposits

       12,050       5,515  

  Interest on deposits

       75,528         -  

  Earnings before income taxes and fixed charges, including interest on deposits

         $87,578         $5,515  

  Earnings to fixed charges ratios:

            

Excluding interest on deposits

       1.70 x       1.27 x  

Including interest on deposits

         1.06 x         1.27 x  

 

         

For the Year Ended December 31, 2008

     Intervest Bancshares        Intervest Bancshares  
          Corporation         Corporation  
  ($ in thousands)          Consolidated          (stand alone)  

  Earnings before income taxes (1)

       $  13,157       $   138  

  Fixed charges, excluding interest on deposits (2)

       9,740         3,537  

  Earnings before income taxes and fixed charges, excluding interest on deposits

       22,897       3,675  

  Interest on deposits

       80,636         -  

  Earnings before income taxes and fixed charges, including interest on deposits

         $103,533         $3,675  

  Earnings to fixed charges ratios:

            

Excluding interest on deposits

       2.35 x       1.04 x  

Including interest on deposits

         1.15 x         1.04 x  

 

         

For the Year Ended December 31, 2007

     Intervest Bancshares        Intervest Bancshares  
          Corporation         Corporation  
  ($ in thousands)          Consolidated          (stand alone)  

  Earnings before income taxes (1)

       $  34,452       $   292  

  Fixed charges, excluding interest on deposits (2)

       11,106         3,647  

  Earnings before income taxes and fixed charges, excluding interest on deposits

       45,558       3,939  

  Interest on deposits

       78,547         -  

  Earnings before income taxes and fixed charges, including interest on deposits

         $124,105         $3,939  

  Earnings to fixed charges ratios:

            

Excluding interest on deposits

       4.10 x       1.08 x  

Including interest on deposits

         1.38 x         1.08 x  

 

(1)

IBC’s stand alone earnings before income taxes includes dividends received from Intervest National Bank, its wholly-owned subsidiary, for purposes of this calculation as follows: $3,933,000 in 2009, $3,507,000 in 2008 and $3,540,000 in 2007.

 

(2)

Fixed charges for purposes of this calculation represent the aggregate of interest expense on debentures and other short-term borrowings, amortization of debenture offering costs and preferred stock dividend requirements, which are comprised of preferred stock dividends and related preferred stock discount amortization.