EX-12.1 4 ex12-1.htm RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDEND REQUIREMENT
Exhibit 12

RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDEND REQUIREMENT

   
For Year Ended
December 31,
  
   
2014
    
2013
    
2012
    
2011
    
2010
  
   
(Dollars In Thousands)
  
Earnings:
                    
1. Income (loss) before income taxes
  
$
57,282
    
$
41,903
    
$
65,773
    
$
37,732
    
$
33,838
  
2. Plus interest expense
    
15,801
      
19,203
      
28,377
      
35,146
      
47,850
  
                                         
3. Earnings including interest on deposits
    
73,083
      
61,106
      
94,150
      
72,878
      
81,688
  
4. Less interest on deposits
    
11,225
      
12,346
      
20,720
      
26,370
      
38,427
  
                                         
5. Earnings excluding interest on deposits
  
$
61,858
    
$
48,760
    
$
73,430
    
$
46,508
    
$
43,261
  
                                         
Fixed charges and preferred stock dividend requirements (pre-tax):
                                        
6. Including interest on deposits and
capitalized interest
  
$
16,563
    
$
19,922
    
$
29,198
    
$
40,145
    
$
52,675
  
7. Less interest on deposits (Line 4)
    
11,225
      
12,346
      
20,720
      
26,370
      
38,427
  
                                         
8. Excluding interest on deposits
  
$
5,338
    
$
7,576
    
$
8,478
    
$
13,775
    
$
14,248
  
                                         
Ratio of earnings to fixed charges and preferred stock dividend requirements (pre-tax):
                                        
Including interest on deposits
(Line 3 divided by Line 6)
    
4.41
      
3.07
      
3.22
      
1.82
      
1.55
  
Excluding interest on deposits
(Line 5 divided by Line 8)
    
11.59
      
6.44
      
8.66
      
3.38
      
3.04