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Whitney Holding Corp – ‘10-K’ for 12/31/09 – EX-12

On:  Monday, 3/1/10, at 4:17pm ET   ·   For:  12/31/09   ·   Accession #:  950123-10-19298   ·   File #:  0-01026

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 3/01/10  Whitney Holding Corp              10-K       12/31/09    8:1.2M                                   RR Donnelley/FA

Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.03M 
 2: EX-12       Statement re: Computation of Ratios                 HTML     20K 
 3: EX-23       Consent of Experts or Counsel                       HTML      7K 
 4: EX-31.1     Certification per Sarbanes-Oxley Act (Section 302)  HTML     13K 
 5: EX-31.2     Certification per Sarbanes-Oxley Act (Section 302)  HTML     13K 
 6: EX-32       Certification per Sarbanes-Oxley Act (Section 906)  HTML      9K 
 7: EX-99.1     Miscellaneous Exhibit                               HTML     16K 
 8: EX-99.2     Miscellaneous Exhibit                               HTML     16K 


EX-12   —   Statement re: Computation of Ratios


This exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



  exv12  

Exhibit 12
STATEMENT REGARDING COMPUTATION OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
WHITNEY HOLDING CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
                                         
    Years Ended December 31  
(dollars in thousands)   2009     2008     2007     2006     2005  
 
 
                                       
Net income (loss)
  $ (62,146 )   $ 58,585     $ 151,054     $ 144,645     $ 102,349  
Income tax expense
    (49,866 )     19,138       74,310       69,164       43,007  
 
Income (loss) before income taxes
  $ (112,012 )   $ 77,723     $ 225,364     $ 213,809     $ 145,356  
 
 
                                       
Fixed charges:
                                       
Interest on short-term and other borrowings
  $ 12,521     $ 28,625     $ 33,314     $ 23,085     $ 16,534  
Interest within rent expense (1)
    3,745       3,661       3,262       2,510       1,714  
 
Fixed charges excluding interest on deposits
    16,266       32,286       367,576       25,595       18,248  
Interest on deposits
    63,345       91,596       163,000       122,075       64,452  
 
Fixed charges including interest on deposits
  $ 79,611     $ 123,882     $ 199,576     $ 147,670     $ 82,700  
 
 
                                       
Preferred dividends (2)
  $ 13,584                          
 
 
                                       
Earnings (loss) for ratio computations:
                                       
Excluding interest on deposits
  $ (95,746 )   $ 51,424     $ 261,940     $ 239,404     $ 163,604  
Including interest on deposits
  $ (32,401 )   $ 143,020     $ 424,940     $ 361,479     $ 228,056  
 
                                       
Ratio of earnings to fixed charges: (3)
                                       
Excluding interest on deposits
          3.41       7.16       9.35       8.97  
Including interest on deposits
          1.63       2.13       2.45       2.76  
 
                                       
Ratio of earnings to fixed charges
                                       
and preferred dividends: (3)
                                       
Excluding interest on deposits
          3.41       7.16       9.35       8.97  
Including interest on deposits
          1.63       2.13       2.45       2.76  
 
(1)   Estimated to be one-third of rent expense.
 
(2)   The Series A Preferred Stock was issued on December 19, 2008, but no dividends were declared or paid in 2008.
 
(3)   There were no earnings available to cover fixed charges and preferred stock dividends in 2009. Whitney needed additional earnings of $112 million to cover fixed charges at a 1.0 ratio in 2009 and $126 million to cover fixed charges and preferred dividends at a 1.0 ratio.


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:3/1/104,  S-8
For Period End:12/31/0911-K,  8-K
12/19/08
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Filing Submission 0000950123-10-019298   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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