EX-12.1 2 osbc-20171231ex1213d816f.htm EX-12.1 osbc _Ex12-1

Exhibit 12.1

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

 

 

 

 

 

 

 

 

 

 

 

 

 

(dollars in thousands)

 

Year Ended December 31,

Earnings

 

2017

 

2016

 

2015

 

2014

 

2013

 

Income (loss) before income taxes

 

$     34,302

 

$   24,504

 

$    24,361

 

$      15,897

 

 $    11,843

Plus:

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 
12,626

 
9,938

 

   12,198

 
14,260

 

14,296

Less:

 

 

 

 

 

 

 

 

 

 

Preferred stock dividends1

 

-

 

-

 
1,873

 
3,276

 
510

Total earnings

 

$     46,928

 

$   34,442

 

$    33,437

 

$     26,881

 

$    25,629

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

Total interest expense 2

 

$      12,626

 

$     9,938

 

$    9,076

 

$     10,984

 

$    13,786

Interest included in operating lease rental expense

 

 

-

 

-

 

-

 

-

 

-

Preferred stock dividends1

 

-

 

-

 
3,122

 
5,463

 
852

Total fixed charges

 

$      12,626

 

$   9,938

 

$    12,198

 

$      16,447

 

$    14,638

 

 

 

 

 

 

 

 

 

 

 

Ration of earnings to fixed charges and preferred stock dividends

 
3.72

 
3.47

 
2.74

 
1.63

 
1.75

Ratio of earnings to fixed charges

 
3.72

 
3.47

 
3.68

 
2.45

 
1.86

 

 

 

 

 

 

 

 

 

 

 

Earnings

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes

 

$     34,302

 

$   24,504

 

$   24,361

 

$      15,897

 

$    11,843

Plus:

 

 

 

 

 

 

 

 

 

 

Total fixed charges excluding interest on deposits

 

 

7,449

 
5,509

 
8,263

 
11,209

 
7,005

Less:

 

 

 

 

 

 

 

 

 

 

Preferred stock dividends1

 

-

 

-

 
3,122

 
5,463

 
852

Total earnings

 

$     41,751

 

$   30,013

 

$   29,502

 

$     21,643

 

$    17,996

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

Total interest expense2

 

$     12,626

 

$     9,938

 

$    9,076

 

$      10,984

 

$    13,786

Interest included in operating lease rental expense

 

 

-

 

-

 

-

 

-

 

-

Preferred stock dividends1

 

-

 

-

 
3,122

 
5,463

 
852

Less: 

Interest expense on deposits

 

 

5,177

 
4,429

 
3,935

 
5,238

 
7,633

Total fixed charges excluding interest on deposits

 

 

$       7,449

 

$     5,509

 

$      7,014

 

$        9,022

 

$      6,663

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges and preferred stock dividends (excluding interest on deposits)

 
5.60

 
5.45

 
3.57

 
1.93

 
2.57

Ratio of earnings to fixed charges (excluding interest on deposits)

 
5.60

 
5.45

 
5.74

 
3.77

 
2.92

 

 

1    The preferred stock dividends amount has been grossed up to compute the pre-tax income equivalent assuming and estimated 40% tax rate.

2  Interest expense includes interest expense on deposits and other debt and amortization of debt issuance costs.