EX-12.0 3 a12312014-ex120.htm EXHIBIT 12.0 12.31.2014-Ex 12.0


Exhibit 12.0

BANC OF CALIFORNIA, INC.
FIXED CHARGE CALCULATION
(Dollars in thousands)
 
Three Months Ended
 
Year Ended
 
December 31,
 
December 31,
 
2014
 
2013
 
2014
 
2013
 
2012
 
2011
 
2010
Ratio of earnings to fixed charges: (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
Excluding interest on deposits
1.98x
 
3.86x
 
2.68x
 
1.49x
 
2.44x
 
 (1.58x)
 
 2.25x
Including interest on deposits
1.35x
 
1.94x
 
1.58x
 
1.19x
 
1.54x
 
  0.48x
 
 1.34x
Ratio of earnings to combined fixed charges and preferred stock dividends: (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
Excluding interest on deposits
1.37x
 
2.42x
 
1.80x
 
1.08x
 
1.47x
 
 (0.91x)
 
 1.45x
Including interest on deposits
1.16x
 
1.62x
 
1.35x
 
1.04x
 
1.23x
 
  0.42x
 
 1.17x
(1)
The ratios of earnings to fixed charges for both excluding and including interest on deposits were less than one-to-one for the year ended December 31, 2011. Earnings were insufficient to cover fixed charges by $3.2 million for the period.
(2)
The ratios of earnings to fixed charges and preferred stock dividends both excluding and including interest on deposits were less than one-to-one for the he year ended December 31, 2011. Earnings were insufficient to cover fixed charges by $4.1 million for the period.

Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividend Requirement
 
Three Months Ended
 
Year Ended
 
December 31,
 
December 31,
 
2014
 
2013
 
2014
 
2013
 
2012
 
2011
 
2010
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
1. Income (loss) before income tax
$
4,690

 
$
8,837

 
$
25,777

 
$
7,339

 
$
6,111

 
$
(3,024
)
 
$
3,861

2. Add: Interest expense
8,749

 
7,454

 
32,862

 
23,282

 
8,479

 
6,037

 
10,788

3. Earnings including interest on deposits
13,439

 
16,291

 
58,639

 
30,621

 
14,590

 
3,013

 
14,649

4. Less: Interest expense on deposits
6,440

 
5,665

 
24,411

 
16,051

 
5,960

 
4,989

 
7,933

5. Earnings excluding interest on deposits
$
6,999

 
$
10,626

 
$
34,228

 
$
14,570

 
$
8,630

 
$
(1,976
)
 
$
6,716

Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
6. Interest expense (Line 2)
$
8,749

 
$
7,454

 
$
32,862

 
$
23,282

 
$
8,479

 
$
6,037

 
$
10,788

7. Interest portion on rental expense
1,221

 
963

 
4,331

 
2,532

 
1,025

 
202

 
124

8. Including interest on deposits and capitalized interest
9,970

 
8,417

 
37,193

 
25,814

 
9,504

 
6,239

 
10,912

9. Less interest expense on deposits (Line 4)
6,440

 
5,665

 
24,411

 
16,051

 
5,960

 
4,989

 
7,933

10. Total fixed charges, excluding interest on deposits
$
3,530

 
$
2,752

 
$
12,782

 
$
9,763

 
$
3,544

 
$
1,250

 
$
2,979

Fixed charges and preferred stock dividends:
 
 
 
 
 
 
 
 
 
 
 
 
 
11. Interest expense (Line 2)
$
8,749

 
$
7,454

 
$
32,862

 
$
23,282

 
$
8,479

 
$
6,037

 
$
10,788

12. Interest portion on rental expense
1,221

 
963

 
4,331

 
2,532

 
1,025

 
202

 
124

13. Preferred stock dividends
1,569

 
1,640

 
6,276

 
3,767

 
2,343

 
921

 
1,655

14. Including interest on deposits, capitalized interest and preferred stock dividends
11,539

 
10,057

 
43,469

 
29,581

 
11,847

 
7,160

 
12,567

15. Less interest expense on deposits (Line 4)
6,440

 
5,665

 
24,411

 
16,051

 
5,960

 
4,989

 
7,933

16. Total fixed charges and preferred stock dividends, excluding interest on deposits
$
5,099

 
$
4,392

 
$
19,058

 
$
13,530

 
$
5,887

 
$
2,171

 
$
4,634

Ratio of earnings to fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
Excluding interest on deposits (Line 5 divided by Line 10)
1.98
 
3.86
 
2.68
 
1.49
 
2.44
 
(1.58)
 
2.25
Including interest on deposits (Line 3 divided by Line 8)
1.35
 
1.94
 
1.58
 
1.19
 
1.54
 
0.48
 
1.34
Deficiency
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
3,226

 
$
—

Ratio of earnings to fixed charges and preferred stock dividends:
 
 
 
 
 
 
 
 
 
 
 
 
 
Excluding interest on deposits (Line 5 divided by Line 16)
1.37
 
2.42
 
1.80
 
1.08
 
1.47
 
(0.91)
 
1.45
Including interest on deposits (Line 3 divided by Line 14)
1.16
 
1.62
 
1.35
 
1.04
 
1.23
 
0.42
 
1.17
Deficiency
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
4,147

 
$
—