EX-12.2 4 a2232319zex-12_2.htm EX-12.2

Exhibit 12.2

 

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

 

 

 

 

 

Three
months
ended
March 31,

 

Years ended December 31,

 

(Dollars in thousands)

 

 

 

2017

 

2016

 

2015

 

2014

 

2013

 

2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

A

 

$

88,018

 

$

331,854

 

$

251,765

 

$

246,431

 

$

224,440

 

$

180,132

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on deposits

 

 

 

$

16,270

 

$

58,409

 

$

48,863

 

$

48,411

 

$

53,191

 

$

68,305

 

Interest on other borrowings

 

C

 

6,909

 

31,855

 

28,072

 

24,281

 

26,891

 

39,200

 

Total interest expense

 

B

 

$

23,179

 

$

90,264

 

$

76,935

 

$

72,692

 

$

80,082

 

$

107,505

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dividends on preferred shares (1)

 

D

 

$

5,977

 

$

23,909

 

$

17,891

 

$

10,498

 

$

13,822

 

$

14,836

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges and preferred stock dividends:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Including deposit interest

 

(A+B) / (B+D)

 

3.81

x

3.70

x

3.47

x

3.84

x

3.24

x

2.35

x

Excluding deposit interest

 

(A+C) / (C+D)

 

7.37

x

6.52

x

6.09

x

7.78

x

6.17

x

4.06

x

 

(1) The dividends on preferred shares were increased to amounts representing the pre-tax earnings that would be required to cover such dividend requirements.