EX-12 5 exhibit12computationofrati.htm EXHIBIT 12 - COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12
 
 
 
Six
 
 
 
 
 
 
 
 
 
 
 
 
 
Months
 
 
 
 
 
 
 
 
 
 
 
 
 
Ended
 
 
 
 
 
 
 
 
 
 
 
 
 
June 30,
 
Years Ended December 31,
 
 
 
2015
 
2014
 
2013
 
2012
 
2011
 
2010
 
Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
 
 
 
Including Interest on Deposits (1)
 
4.30

 
4.73

 
3.61

 
3.29

 
3.07

 
2.29

 
Excluding Interest on Deposits (2)
 
7.53

 
8.35

 
5.47

 
5.01

 
4.70

 
3.56

a
Net Income
 
26,910

 
59,845

 
50,254

 
42,627

 
45,436

 
40,240

b
Income Taxes
 
11,082

 
23,899

 
16,484

 
14,673

 
17,148

 
12,227

c
Interest Expense on Deposits
 
5,685

 
11,039

 
10,623

 
10,703

 
13,355

 
20,254

d
Interest Expense on Borrowings*
 
4,765

 
9,378

 
12,712

 
12,690

 
15,317

 
18,509

e
Rent Expense
 
1,055

 
2,016

 
2,210

 
1,589

 
1,601

 
1,956

*
Interest expense on borrowings reflects amortization.
 
 
 
 
 
 
 
 
(1)
(a+b+c+d+e)/(c+d+e)
 
 
 
 
 
 
 
 
 
 
 
 
(2)
(a+b+d+e)/(d+e)