EX-12 2 fnb-10xk2017xex12xq4.htm EXHIBIT 12 Exhibit
EXHIBIT 12

F.N.B. Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
Dollars in thousands

Year Ended December 31
2017
 
2016
 
2015
 
2014
 
2013
Earnings:
 
 
 
 
 
 
 
 
 
Income before income taxes
$
356,269

 
$
246,389

 
$
229,642

 
$
206,670

 
$
162,560

Fixed charges, excluding interest on deposits
86,407

 
44,810

 
34,330

 
29,921

 
18,384

Less: Preferred stock dividends
(14,381
)
 
(11,593
)
 
(11,566
)
 
(11,983
)
 
—

Subtotal
428,295

 
279,606

 
252,406

 
224,608

 
180,944

Interest on deposits
71,582

 
41,239

 
31,207

 
29,602

 
29,441

Total
$
499,877

 
$
320,845

 
$
283,613

 
$
254,210

 
$
210,385

Fixed charges:
 
 
 
 
 
 
 
 
 
Interest on borrowed funds
$
62,310

 
$
26,212

 
$
17,366

 
$
13,083

 
$
14,903

Interest component of rental expense
9,716

 
7,005

 
5,398

 
4,855

 
3,481

Preferred stock dividends
14,381

 
11,593

 
11,566

 
11,983

 
—

Subtotal
86,407

 
44,810

 
34,330

 
29,921

 
18,384

Interest on deposits
71,582

 
41,239

 
31,207

 
29,602

 
29,441

Total
$
157,989

 
$
86,049

 
$
65,537

 
$
59,523

 
$
47,825

Ratio of earnings to fixed charges:
 
 
 
 
 
 
 
 
 
Excluding interest on deposits
5.75

 
8.07x

 
10.58x

 
11.85x

 
9.84x

Including interest on deposits
3.38

 
4.15x

 
5.04x

 
5.10x

 
4.40x

Ratio of earnings to fixed charges and preferred stock dividends:
 
 
 
 
 
 
 
 
 
Excluding interest on deposits
4.96

 
6.24x

 
7.35x

 
7.51x

 
9.84x

Including interest on deposits
3.16

 
3.73x

 
4.33x

 
4.27x

 
4.40x