Exhibit 12.2
	First BanCorp
	Computation of Ratio of Earnings to Fixed Charges and Preference Dividends
		Year Ended
		December 31, 2013
	Including Interest on Deposits
	Earnings:
	Pre-tax income from continuing operations	$	(159,323)
	Plus:
	Fixed Charges (excluding capitalized interest)		134,253
	Total loss	$	(25,070)
	Fixed Charges:
	Interest expensed and capitalized	$	130,843
	An estimate of the interest component within rental expense		3,410
	Total fixed charges before preferred dividends		134,253
	Preferred dividends		-
	Ratio of pre-tax income to net income		1.00
	Preferred dividend factor		-
	Total fixed charges and preferred stock dividends	$	134,253
	Ratio of Earnings to Fixed Charges and Preferred Stock Dividends	(A)
	Excluding Interest on Deposits
	Earnings:
	Pre-tax income from continuing operations	$	(159,323)
	Plus:
	Fixed Charges (excluding capitalized interest)		42,466
	Total loss	$	(116,857)
	Fixed Charges:
	Interest expensed and capitalized	$	39,056
	An estimate of the interest component within rental expense		3,410
	Total Fixed Charges before preferred dividends		42,466
	Preferred dividends		-
	Ratio of pre-tax income to net income		1.00
	Preferred dividend factor		-
	Total Fixed Charges and preferred stock dividends	$	42,466
	Ratio of Earnings to Fixed Charges and Preferred Stock Dividends	(A)
(A)	For December 31, 2013, the ratio coverage was less than 1:1.  The Corporation would have to generate additional earnings of $159.3 million to achieve a ratio of 1:1 for the year ended December 31, 2013.