EX-12.0 2 d262793dex120.htm COMPUTATION TABLE Computation Table

Exhibit 12.0

Intervest Bancshares Corporation and Subsidiaries

Computation of Ratios of Earnings to Fixed Charges

 

     For the Year Ended December 31, 2011  

($ in thousands)

    Intervest Bancshares
Corporation
Consolidated		      Intervest Bancshares
Corporation
(stand alone)		  

Earnings before income taxes (1)

    $ 20,758       $ (2,695 ) 

Fixed charges, excluding interest on deposits (2)

      4,688         3,802   
  

 

 

     

 

 

  

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

      25,446         1,107   

Interest on deposits

      47,582         —     
  

 

 

     

 

 

  

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

    $ 73,028       $ 1,107   
  

 

 

     

 

 

  

Earnings to fixed charges ratios:

      

Excluding interest on deposits

      5.43 x         0.29 x   

Including interest on deposits

      1.40 x         0.29 x   

 

     For the Year Ended December 31, 2010  

($ in thousands)

    Intervest Bancshares
Corporation
Consolidated		     Intervest Bancshares
Corporation
(stand alone)		  

(Loss) earnings before income taxes (1)

    $ (93,656 )    $ (2,761 ) 

Fixed charges, excluding interest on deposits (2)

      5,372        3,815   
  

 

 

    

 

 

  

(Loss) earnings before income taxes and fixed charges, excluding interest on deposits

      (88,284 )      1,054   

Interest on deposits

      58,987        —     
  

 

 

    

 

 

  

(Loss) earnings before income taxes and fixed charges, including interest on deposits

    $ (29,297 )    $ 1,054   
  

 

 

    

 

 

  

Earnings to fixed charges ratios:

     

Excluding interest on deposits

      -16.43 x        0.28 x   

Including interest on deposits

      -0.46 x        0.28 x   

 

     For the Year Ended December 31, 2009  

($ in thousands)

    Intervest Bancshares
Corporation
Consolidated		      Intervest Bancshares
Corporation
(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   

 

(1)

IBC’s stand alone earnings before income taxes includes dividends received from INB, its wholly-owned subsidiary, for purposes of this calculation as follows: none in 2011 and 2010 and $3,933,000 in 2009. In 2010, INB was required by its primary regulator to suspend its dividend payments to IBC. See the section “Supervision and Regulation” in Item 1 “Business” of IBC’s annual report on Form 10-K for the year ended December 31, 2011 for further discussion of this restriction imposed on INB.

(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.