Exhibit 12.1
Pinnacle Financial Partners, Inc.
Ratio of Combined Fixed Charges and Preference Dividends to Earnings
(in thousands)
Years ended December 31, | ||||||||||||||||||||||||
Nine-months ended 9/30/12 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense—deposits | $ | 13,113 | $ | 30,588 | $ | 49,857 | $ | 63,129 | $ | 76,998 | $ | 61,672 | ||||||||||||
Interest expense—other borrowings | $ | 4,484 | $ | 6,294 | $ | 9,118 | $ | 11,796 | $ | 14,869 | $ | 13,548 | ||||||||||||
TARP preferred stock dividends (pretax) | $ | 2,452 | $ | 3,002 | $ | 3,942 | $ | 8,803 | $ | 370 | $ | — | ||||||||||||
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Total fixed charges: | $ | 20,049 | $ | 39,884 | $ | 62,917 | $ | 83,728 | $ | 92,237 | $ | 75,220 | ||||||||||||
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Earnings: | ||||||||||||||||||||||||
Pretax earnings (loss) | $ | 44,516 | $ | 28,500 | $ | (19,890 | ) | $ | (64,893 | ) | $ | 43,241 | $ | 33,034 | ||||||||||
Fixed charges above | $ | 20,049 | $ | 39,884 | $ | 62,917 | $ | 83,728 | $ | 92,237 | $ | 75,220 | ||||||||||||
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Total earnings | $ | 64,565 | $ | 68,384 | $ | 43,027 | $ | 18,835 | $ | 135,478 | $ | 108,254 | ||||||||||||
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Ratio of earnings to combined fixed charges and preferred dividends: | ||||||||||||||||||||||||
Excluding interest on deposits | 7.42 | x | 4.07 | x | NM | NM | 3.84 | x | 3.44 | x | ||||||||||||||
Including interest on deposits | 3.22 | x | 1.71 | x | 0.68 | x | 0.22 | x | 1.47 | x | 1.44 | x | ||||||||||||
Ratio of earnings to fixed charges (excludes preferred dividends): | ||||||||||||||||||||||||
Excluding interest on deposits | 10.93 | x | 5.53 | x | NM | NM | 3.91 | x | 3.44 | x | ||||||||||||||
Including interest on deposits | 3.53 | x | 1.77 | x | 0.66 | x | 0.13 | x | 1.47 | x | 1.44 | x |