EX-12 14 ex12.htm EXHIBIT 12 - STATEMENT REGARDING COMPUTATION OF EARNINGS TO FIXED CHARGES ex12.htm

Exhibit 12
                              
                               
STATEMENT REGARDING COMPUTATION OF EARNINGS TO FIXED CHARGES       
                               
                               
WHITNEY HOLDING CORPORATION               
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES          
                               
   
Years Ended December 31          
(dollars in thousands)
  
2007 
  
2006 
  
2005 
  
2004 
  
2003 
                               
Net income
  
$
151,054
    
$
144,645
    
$
102,349
    
$
97,137
    
$
98,542
  
Income tax expense
    
74,310
      
69,164
      
43,007
      
43,198
      
46,099
  
  Income before income taxes
  
$
225,364
    
$
213,809
    
$
145,356
    
$
140,335
    
$
144,641
  
                                         
Fixed charges:
                                        
Interest on short-term and other borrowings
  
$
33,314
    
$
23,085
    
$
16,534
    
$
6,017
    
$
2,816
  
Interest within rent expense (1)
    
3,262
      
2,510
      
1,714
      
1,402
      
1,325
  
  Fixed charges excluding interest on deposits
    
36,576
      
25,595
      
18,248
      
7,419
      
4,141
  
Interest on deposits
    
163,000
      
122,075
      
64,452
      
34,665
      
40,693
  
  Fixed charges including interest on deposits
  
$
199,576
    
$
147,670
    
$
82,700
    
$
42,084
    
$
44,834
  
                                         
Earnings for ratio computation:
                                        
  Excluding interest on deposits
  
$
261,940
    
$
239,404
    
$
163,604
    
$
147,754
    
$
148,782
  
  Including interest on deposits
  
$
424,940
    
$
361,479
    
$
228,056
    
$
182,419
    
$
189,475
  
                                         
Ratio of earnings to fixed charges:
                                        
  Excluding interest on deposits
    
7.16
      
9.35
      
8.97
      
19.92
      
35.93
  
  Including interest on deposits
    
2.13
      
2.45
      
2.76
      
4.33
      
4.23
  
                                         
(1) Estimated to be one-third of rent expense.