EX-12.1 4 ex121.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,
  
   
2017
    
2016
    
2015
    
2014
    
2013
  
   
(Dollars In Thousands)
  
Earnings:
                              
1. Income before income taxes
  
$
70,322
    
$
61,858
    
$
62,066
    
$
57,282
    
$
41,903
  
2. Plus interest expense
    
27,905
      
22,119
      
15,997
      
15,801
      
19,203
  
                                         
3. Earnings including interest on deposits
    
98,227
      
83,977
      
78,063
      
73,083
      
61,106
  
4. Less interest on deposits
    
20,595
      
17,387
      
13,511
      
11,225
      
12,346
  
                                         
5. Earnings excluding interest on deposits
  
$
77,632
    
$
66,590
    
$
64,552
    
$
61,858
    
$
48,760
  
                                         
Fixed charges and preferred stock dividend requirements (pre-tax):
                                        
6. Including interest on deposits and
capitalized interest
  
$
27,905
    
$
22,119
    
$
16,736
    
$
16,563
    
$
19,922
  
7. Less interest on deposits (Line 4)
    
20,595
      
17,387
      
13,511
      
11,225
      
12,346
  
                                         
8. Excluding interest on deposits
  
$
7,310
    
$
4,732
    
$
3,225
    
$
5,338
    
$
7,576
  
                                         
Ratio of earnings to fixed charges and preferred stock
     dividend requirements (pre-tax):
                                        
Including interest on deposits
(Line 3 divided by Line 6)
    
3.52
      
3.80
      
4.66
      
4.41
      
3.07
  
Excluding interest on deposits
(Line 5 divided by Line 8)
    
10.62
      
14.07
      
20.01
      
11.59
      
6.44