EX-12 2 dex12.htm STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Statement of computation of ratios of earnings to fixed charges

EXHIBIT 12

FIRST REPUBLIC PREFERRED CAPITAL CORPORATION

(A Wholly Owned Subsidiary of Merrill Lynch Bank & Trust Co., FSB)

STATEMENT OF COMPUTATION OF

RATIOS OF EARNINGS TO FIXED CHARGES

 

     Three Months
Ended
March 31,		  

($ in thousands)

    2008     2007  

I.    Earnings:

     

Net income

    $ 4,575     $ 4,917  

Fixed charges excluding preferred stock dividends

      —         —    
                

Earnings before fixed charges

    $ 4,575     $ 4,917  
                

II.    Fixed charges:

     

Preferred stock dividends

    $ 2,555     $ 3,563  
                

III.  Ratios of earnings to fixed charges

      1.79 x     1.38 x