BEAR STATE FINANCIAL, INC.	EXHIBIT 12.1
STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

		Year Ended December 31,											Six Months Ended June 30,
(dollars in thousands)		2015		2014		2013		2012		2011			2016		2015
Fixed charges and preferred dividends
Interest expense		$	6,364	$	5,138	$	3,392	$	4,422	$	6,682		$	3,798	$	3,091
Estimated interest in rent			216		145		86		89		77			135		101
Preferred dividends	E		-		-		-		-		-			-		-
Combined fixed charges and preferred dividends	B		6,580		5,283		3,478		4,511		6,759			3,933		3,192
Less: interest on deposits			5,339		4,538		3,339		4,322		6,351			3,123		2,588
Combined fixed charges and preferred dividends excluding interest on deposits	D	$	1,241	$	745	$	139	$	189	$	408		$	810	$	604
Earnings
Pre-tax income from continuing operations		$	15,213	$	3,736	$	740	$	755	$	(19,034	)	$	10,169	$	6,938
Fixed charges and preferred dividends			6,580		5,283		3,478		4,511		6,759			3,933		3,192
Total earnings	A		21,793		9,019		4,218		5,266		(12,275	)		14,102		10,130
Less: interest on deposits			5,339		4,538		3,339		4,322		6,351			3,123		2,588
Total earnings excluding interest on deposits	C	$	16,454	$	4,481	$	879	$	944	$	(18,626	)	$	10,979	$	7,542
Ratio of earnings to fixed charges
Ratio, including interest on deposits	(A/(B-E))		3.31		1.71		1.21		1.17		*			3.59		3.17
Ratio, excluding interest on deposits	(C/(D-E))		13.26		6.01		6.32		4.99		*			13.55		12.49
Ratio of earnings to fixed charges and preferred dividends
Ratio, including interest on deposits	A/B		3.31		1.71		1.21		1.17		*			3.59		3.17
Ratio, excluding interest on deposits	C/D		13.26		6.01		6.32		4.99		*			13.55		12.49

* Due to a loss in 2011, earnings were insufficient to cover fixed charges by $19 million.