EXHIBIT 12

FIRST REPUBLIC PREFERRED CAPITAL CORPORATION

(A Wholly Owned Subsidiary of Bank of America, N.A.)

STATEMENT OF COMPUTATION OF

RATIOS OF EARNINGS TO FIXED CHARGES



|                                                  |  |                                |              |            |              |        |              |   |          |  |   |        |  |   |        |  |   |       
|------------------------------------------------- |  | ------------------------------ | ------------ | ---------- | ------------ | ------ | ------------ | - | -------- |  | - | ------ |  | - | ------ |  | - | ------
|                                                  |  | Three MonthsEndedMarch 31,2010 |              | Year Ended
|($ in thousands)                                  |  |                                | Dec.
31,2009 |            | Dec. 26,2008 |        | Dec. 28,2007 |   | Dec. 31,
|                                                  |  |                                |              |            | 2006         |        | 2005        
|I.       Earnings:                                |  |                                |              |            |              |        |              |   |          |  |   |        |  |   |        |  |   |       
|Net income                                        |  | $                              | 3,589        |            | $            | 13,887 |              | $ | 15,881   |  | $ | 19,410 |  | $ | 18,456 |  | $ | 16,176
|Fixed charges excluding preferred stock dividends |  |                                |             |            |              |       |              |   |         |  |   |       |  |   |       |  |   |      
|                                                  |  |                                |              |            |              |        |              |   |          |  |   |        |  |   |        |  |   |       
|Earnings before fixed charges                     |  | $                              | 3,589        |            | $            | 13,887 |              | $ | 15,881   |  | $ | 19,410 |  | $ | 18,456 |  | $ | 16,176
|                                                  |  |                                |              |            |              |        |              |   |          |  |   |        |  |   |        |  |   |       
|II.     Fixed charges:                            |  |                                |              |            |              |        |              |   |          |  |   |        |  |   |        |  |   |       
|Preferred stock dividends                         |  | $                              | 2,531        |            | $            | 10,181 |              | $ | 10,125   |  | $ | 13,540 |  | $ | 14,252 |  | $ | 14,252
|                                                  |  |                                |              |            |              |        |              |   |          |  |   |        |  |   |        |  |   |       
|III.    Ratios of earnings to fixed charges       |  |                                | 1.42x        |            |              | 1.36x  |              |   | 1.57x    |  |   | 1.43x  |  |   | 1.30x  |  |   | 1.13x 
|                                                  |  |                                |              |            |              |        |              |   |          |  |   |        |  |   |        |  |   |