EX-12.1 5 a20151231ex121.htm EX-12.1 Exhibit


Exhibit 12.1

BANKUNITED, INC. AND SUBSIDIARIES
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES
(In thousands, except for ratios)
 
 
Year Ended December 31,
 
 
2015
 
2014
 
2013
 
2012
 
2011
 
2010
Excluding Interest on Deposits:
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense (other than interest on deposits)
 
$
44,013

 
$
33,690

 
$
32,045

 
$
57,091

 
$
63,164

 
$
59,856

Interest factor in rent expense (1)
 
9,026

 
8,471

 
8,668

 
7,772

 
4,956

 
4,267

Total fixed charges
 
$
53,039

 
$
42,161

 
$
40,713

 
$
64,863

 
$
68,120

 
$
64,123

 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings
 
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
 
$
296,893

 
$
293,250

 
$
318,002

 
$
344,865

 
$
192,744

 
$
312,540

Fixed charges
 
53,039

 
42,161

 
40,713

 
64,863

 
68,120

 
64,123

Total earnings
 
$
349,932

 
$
335,411

 
$
358,715

 
$
409,728

 
$
260,864

 
$
376,663

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges excluding interest on deposits
 
6.60

 
7.96

 
8.81

 
6.32

 
3.83

 
5.87

 
 
 
 
 
 
 
 
 
 
 
 
 
Including Interest on Deposits:
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
Total interest expense
 
$
135,164

 
$
106,651

 
$
92,611

 
$
123,269

 
$
138,937

 
$
168,200

Interest factor in rent expense (1)
 
9,026

 
8,471

 
8,668

 
7,772

 
4,956

 
4,267

Total fixed charges
 
$
144,190

 
$
115,122

 
$
101,279

 
$
131,041

 
$
143,893

 
$
172,467

 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings
 
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
 
$
296,893

 
$
293,250

 
$
318,002

 
$
344,865

 
$
192,744

 
$
312,540

Fixed charges
 
144,190

 
115,122

 
101,279

 
131,041

 
143,893

 
172,467

Total earnings
 
$
441,083

 
$
408,372

 
$
419,281

 
$
475,906

 
$
336,637

 
$
485,007

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges including interest on deposits
 
3.06

 
3.55

 
4.14

 
3.63

 
2.34

 
2.81

(1) Consists of one third of total rent expense which management believes approximates the interest factor in rent expense.