EX-12 5 exhibit12-computationofrat.htm EXHIBIT 12 - COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12
 
 
 
 
 
 
 
 
 
 
 
 
Six
 
 
 
 
 
 
 
 
Months
 
 
 
 
 
 
 
 
 Ended
 
 
 
 
 
 
 
 
June 30,
Years Ended December 31,
 
 
 
2018
2017
2016
2015
2014
2013
Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
Including Interest on Deposits (1)
7.05

7.62

6.39

5.11

4.78

3.64

 
Excluding Interest on Deposits (2)
20.45

18.65

12.63

9.51

8.55

5.57

 
 
 
 
 
 
 
 
 
a
Net Income
 
58,673

87,204

76,648

64,960

59,845

50,254

b
Income Taxes
 
16,077

47,341

35,427

27,218

23,899

16,484

c
Interest Expense on Deposits
8,522

12,702

11,140

11,576

11,039

10,623

d
Interest Expense on Borrowings*
2,755

5,632

7,653

9,041

9,378

12,712

e
Rent Expense
 
1,088

1,991

1,984

1,795

1,717

1,903

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