First Citizens Bancorporation Inc, et al. – ‘S-4’ on 7/31/98 – EX-12

As of:  Friday, 7/31/98   ·   Accession #:  950168-98-2457   ·   File #s:  333-60319, -01

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Registration of Securities Issued in a Business-Combination Transaction   —   Form S-4
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: S-4         Fcb/Sc Capital Trusti S-4                            116±   492K 
 2: EX-3        Exhibit 3.1                                            4     18K 
 3: EX-4        Exhibit 4.1                                           96    295K 
 4: EX-4        Exhibit 4.2                                           22     87K 
 5: EX-4        Exhibit 4.3                                           89    352K 
 6: EX-4        Exhibit 4.4                                           28    109K 
 7: EX-4        Exhibit 4.5                                            5     17K 
 8: EX-4        Exhibit 4.6                                            7     32K 
 9: EX-5        Exhibit 5.1                                            4     18K 
10: EX-5        Exhibit 5.2                                            3     17K 
11: EX-8        Exhibit 8.1                                            2±    12K 
12: EX-12       Exhibit 12.1                                           2±    13K 
13: EX-23       Exhibit 23.1                                           1      9K 
14: EX-24       Exhibit 24.1                                           2     18K 
15: EX-25       Exhibit 25.1                                          19     67K 
16: EX-99       Exhibit 99.1                                          16     67K 
17: EX-99       Exhibit 99.2                                           5     18K 
18: EX-99       Exhibit 99.3                                          14     48K 

EX-12   —   Exhibit 12.1

First Citizens Bancorporation of South Carolina, Inc.                           
Statement Re Computation of Ratios of Earnings to Fixed Charges                 

                            Six Months
                            Ended June 30,
                           -----------------
                            1998      1997
                             -----     -----
RATIO OF EARNINGS TO FIXED CHARGES                                              
EXCLUDING INTEREST ON DEPOSITS:                                         

Net income                                11,983     9,702              
Income taxes                               6,389     5,356              
                           -----------------
Income before income taxes        (a)     18,372    15,058              
                           -----------------
Interest expense                          36,070    31,318              
Less: interest on deposits                29,684    27,194              
                           -----------------
Fixed charges, excluding                                                
interest on deposits              (b)      6,386     4,124              
                           -----------------
Ratio of earnings to fixed charges                                              
excluding interest on                                                   
deposits                  [(a)+(b)]/(b)     3.88      4.65              

                                                        [Enlarge/Download Table]
                                                                                              

                                                            Year Ended December 31,           
                                             ------------------------------------------------ 
                                               1997      1996       1995      1994      1993  
                                               -----     ----       ----      -----     ----- 
RATIO OF EARNINGS TO FIXED CHARGES                                                            
    EXCLUDING INTEREST ON DEPOSITS                                                            

    Net income                                21,770    18,954     12,558     9,849    13,004 
    Income taxes                              11,775    10,321      6,777     4,969     6,065 
                                             ------------------------------------------------ 
    Income before income taxes        (a)     33,545    29,275     19,335    14,818    19,069 
                                             ------------------------------------------------ 
    Interest expense                          65,474    57,552     53,527    40,821    38,426 
    Less: interest on deposits                56,844    51,170     48,026    37,505    35,760 
                                             ------------------------------------------------ 
    Fixed charges, excluding                                                                  
    interest on deposits              (b)      8,630     6,382      5,501     3,316     2,666 
                                             ------------------------------------------------ 
Ratio of earnings to fixed charges                                                            
    excluding interest on                                                                     
    deposits                  [(a)+(b)]/(b)     4.89      5.59       4.51      5.47      8.15 

                                                 Six Months                                   
                                               Ended June 30,                                 
                                             -----------------                                
                                               1998      1997                                 

RATIO OF EARNINGS TO FIXED CHARGES                                                            
    INCLUDING INTEREST ON DEPOSITS                                                            

    Net income                                11,983     9,702                                
    Income taxes                               6,389     5,356                                
                                            ------------------                                
    Income before income taxes        (a)     18,372    15,058                                
                                            ------------------                                
    Fixed charges(interest                                                                    
    expense)                          (b)     36,070    31,318                                
                                            ------------------                                
Ratio of earnings to fixed charges                                                            
    including interest on                                                                     
    deposits                  [(a)+(b)]/(b)     1.51      1.48                                

                                                            Year Ended December 31,           
                                             ------------------------------------------------ 
                                               1997      1996       1995      1994      1993  
                                               -----     ----       ----      -----     ----- 
RATIO OF EARNINGS TO FIXED CHARGES                                                            
    INCLUDING INTEREST ON DEPOSITS                                                            

    Net income                                21,770    18,954     12,558     9,849    13,004 
    Income taxes                              11,775    10,321      6,777     4,969     6,085 
                                             -----------------------------------------------  
    Income before income taxes        (a)     33,545    29,275     19,335    14,818    19,069 
                                             ------------------------------------------------ 
    Fixed charges, (interest expense) (b)     65,474    57,552     53,527    40,821    38,426 
                                             ------------------------------------------------ 
Ratio of earnings to fixed charges                                                            
    including interest on                                                                     
    deposits                  [(a)+(b)]/(b)      1.51      1.51       1.36      1.36      1.50