EX-12.1 5 d648878dex121.htm EX-12.1

EX-12.1

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,
				2013				2012				2011				2010				2009				2008
Net Income from continuing operations		a		$	16,306			$	23,547			$	20,633			$	14,785			$	10,866			$	6,502
Interest expense on deposits		b			5,862				10,875				13,625				13,558				13,091				14,956
Interest expense on borrowings		c			2,557				3,245				3,176				4,716				4,527				4,609
Interest expense on subordinated debt		d			583				800				778				782				850				1,018
Earnings					25,308				38,467				38,212				33,841				29,334				27,085
Preferred stock dividends		e			—				—				—				—				—				—
Fixed charges		(b+c+d+e)			9,002				14,920				17,579				19,056				18,468				20,583
Ratio of earnings to fixed charges (including interest expense on deposits)		(a+b+c+d) /(b+c+d+e)			2.81				2.58				2.17				1.78				1.59				1.32
Earnings excluding interest expense on deposits		(a+c+d)			19,446				27,592				24,587				20,283				16,243				12,129
Fixed charges excluding interest expense on deposits		(c+d+e)			3,140				4,045				3,954				5,498				5,377				5,627
Ratio of earnings to fixed charges (excluding interest expense on deposits)		(a+c+d)/ (c+d+e)			6.19				6.82				6.22				3.69				3.02				2.16