EX-12.1 2 a20161231ex121.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,
 
 
2016
 
2015
 
2014
 
2013
 
2012
 
2011
Excluding Interest on Deposits:
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense (other than interest on deposits)
 
$
69,059

 
$
44,013

 
$
33,690

 
$
32,045

 
$
57,091

 
$
63,164

Interest factor in rent expense (1)
 
9,205

 
9,026

 
8,471

 
8,668

 
7,772

 
4,956

Total fixed charges
 
$
78,264

 
$
53,039

 
$
42,161

 
$
40,713

 
$
64,863

 
$
68,120

 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings
 
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
 
$
335,444

 
$
296,893

 
$
293,250

 
$
318,002

 
$
344,865

 
$
192,744

Fixed charges
 
78,264

 
53,039

 
42,161

 
40,713

 
64,863

 
68,120

Total earnings
 
$
413,708

 
$
349,932

 
$
335,411

 
$
358,715

 
$
409,728

 
$
260,864

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges excluding interest on deposits
 
5.29

 
6.60

 
7.96

 
8.81

 
6.32

 
3.83

 
 
 
 
 
 
 
 
 
 
 
 
 
Including Interest on Deposits:
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
Total interest expense
 
$
188,832

 
$
135,164

 
$
106,651

 
$
92,611

 
$
123,269

 
$
138,937

Interest factor in rent expense (1)
 
9,205

 
9,026

 
8,471

 
8,668

 
7,772

 
4,956

Total fixed charges
 
$
198,037

 
$
144,190

 
$
115,122

 
$
101,279

 
$
131,041

 
$
143,893

 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings
 
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
 
$
335,444

 
$
296,893

 
$
293,250

 
$
318,002

 
$
344,865

 
$
192,744

Fixed charges
 
198,037

 
144,190

 
115,122

 
101,279

 
131,041

 
143,893

Total earnings
 
$
533,481

 
$
441,083

 
$
408,372

 
$
419,281

 
$
475,906

 
$
336,637

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges including interest on deposits
 
2.69

 
3.06

 
3.55

 
4.14

 
3.63

 
2.34

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