EX-12.1 3 d457444dex121.htm EXHIBIT 12.1 -- STATEMENT OF RATIOS OF EARNINGS

Exhibit 12.1 -- Statement of Ratios of Earnings

Exhibit 12.1

CNB Financial Corporation

Ratio of Earnings to Fixed Charges and Combined Fixed Charges and Preferred Stock Dividends

(dollars in thousands)

				Nine Months Ended September  30,				Years Ended December 31,
				2012				2009				2008				2007				2006				2005
Net Income from continuing operations		a		$	18,286			$	20,633			$	14,785			$	10,866			$	6,502			$	12,415
Interest expense on deposits		b			8,519				13,625				13,558				13,091				14,956				18,087
Interest expense on borrowings		c			2,418				3,176				4,716				4,527				4,609				3,510
Interest expense on subordinated debt		d			606				778				782				850				1,018				1,325
Earnings					29,829				38,212				33,841				29,334				27,085				35,337
Preferred stock dividends		e			—				—				—				—				—				—
Fixed charges		(b+c+d+e)			11,543				17,579				19,056				18,468				20,583				22,922
Ratio of earnings to fixed charges (including interest expense on deposits)		(a+b+c+d) /(b+c+d+e)			2.58				2.17				1.78				1.59				1.32				1.54
Earnings excluding interest expense on deposits		(a+c+d)			21,310				24,587				20,283				16,243				12,129				17,250
Fixed charges excluding interest expense on deposits		(c+d+e)			3,024				3,954				5,498				5,377				5,627				4,835
Ratio of earnings to fixed charges (excluding interest expense on deposits)		(a+c+d)/ (c+d+e)			7.05				6.22				3.69				3.02				2.16				3.57