EX-12.1 5 t1702744_ex12-1.htm EXHIBIT 12.1

 

Exhibit 12.1

 

CALCULATION OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES

 

   Nine Months
Ended
   Years Ended  December 31, 
(Dollars in thousands)  September 30, 2017   2016   2015   2014   2013   2012 
Earnings                              
Pre-tax income from continuing operations   $12,368   $11,747   $9,976   $10,266   $10,422   $7,766 
Interest on deposits    4,234    4,695    4,152    4,586    5,581    8,434 
Interest on debt    3,148    3,447    3,193    2,112    2,065    2,170 
Fixed charges excluding preferred stock dividend    7,382    8,142    7,345    6,698    7,646    10,604 
Total earnings including interest on deposits   $19,750   $19,889   $17,321   $16,694   $18,068   $18,370 
Total earnings excluding interest on deposits   $15,516   $15,194   $13,169   $12,378   $12,487   $9,936 
                               
Fixed Charges and Preferred Stock Dividends                              
Interest on deposits   $4,234   $4,695   $4,152   $4,586   $5,581   $8,434 
Interest on debt    3,148    3,447    3,193    2,112    2,065    2,170 
Total fixed charges    7,382    8,142    7,345    6,698    7,646    10,604 
                               
Preferred stock dividend            36    316    313    311 
Combined fixed charges and preferred stock dividends   $7,382   $8,142   $7,381   $7,014   $7,959   $10,915 
Combined fixed charges excluding interest on deposits   $3,148   $3,447   $3,193   $2,112   $2,065   $2,170 

Combined fixed charges and preferred stock dividends

excluding interest on deposits

  $3,148   $3,447   $3,229   $2,428   $2,378   $2,481 
                               
Ratio of earnings to fixed charges                              
Including deposits    2.68    2.44    2.36    2.53    2.36    1.73 
Excluding deposits    4.93    4.41    4.12    5.86    6.05    4.58 

Ratio of earnings to combined fixed charges and

preferred stock dividends

                              
Including deposits    2.68    2.44    2.35    2.42    2.27    1.68 
Excluding deposits    4.93    4.41    4.08    5.10    5.25    4.00