EX-12 2 fbp03312016x10q_ex121.htm EXHIBIT 12.1  

 

  

  

  

Exhibit 12.1

  

  

  

  

First BanCorp

Computation of Ratio of Earnings to Fixed Charges

  

  

  

  

  

  

Quarter Ended

  

  

 March 31, 2016

  

  

  

Including Interest on Deposits

  

  

  

Earnings:

  

  

  

                    Pre-tax income from continuing operations

  

$

 29,067 

         Plus:

  

  

  

                    Fixed Charges (excluding capitalized interest)

  

  

 27,141 

  

  

  

  

Total earnings

  

$

 56,208 

  

  

  

  

Fixed Charges:

  

  

  

                    Interest expensed and capitalized

  

$

 26,183 

                    An estimate of the interest component within rental expense

  

  

 958 

Total Fixed Charges

  

$

 27,141 

Ratio of Earnings to Fixed Charges

  

 2.07 

  

  

  

  

Excluding Interest on Deposits

  

  

  

Earnings:

  

  

  

                    Pre-tax income from continuing operations

  

$

 29,067 

         Plus:

  

  

  

                    Fixed Charges (excluding capitalized interest)

  

  

 9,884 

  

  

  

  

Total earnings

  

$

 38,951 

  

  

  

  

Fixed Charges:

  

  

  

                    Interest expensed and capitalized

  

$

 8,926 

                    An estimate of the interest component within rental expense

  

  

 958 

  

  

  

  

Total Fixed Charges

  

$

 9,884 

  

  

  

  

Ratio of Earnings to Fixed Charges

  

 3.94