EX-12 3 colb2015ex12.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Exhibit


EXHIBIT 12

Ratios of Earnings to Fixed Charges and Earnings to Combined Fixed Charges and Preferred Stock Dividends

 
 
For the Years Ended December 31,
 
 
2015
 
2014
 
2013
 
2012
 
2011
 
 
(dollars in thousands)
Income before tax
 
$
141,620

 
$
117,785

 
$
87,010

 
$
63,705

 
$
65,942

Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest expense on borrowings
 
1,027

 
989

 
1,878

 
3,690

 
4,057

Estimate of interest within rental expense (1/3 of rental expense)
 
2,453

 
2,780

 
2,839

 
1,515

 
1,533

Subtotal for fixed charges
 
$
3,480

 
$
3,769

 
$
4,717

 
$
5,205

 
$
5,590

Preferred dividend requirement on a pre-tax basis
 
211

 
148

 
49

 
—

 
—

Fixed charges and preferred dividends, excluding interest on deposits
 
$
3,691

 
$
3,917

 
$
4,766

 
$
5,205

 
$
5,590

Interest expense on deposits
 
$
2,977

 
$
3,005

 
$
3,962

 
$
5,887

 
$
10,478

Fixed charges and preferred dividends, including interest on deposits
 
$
6,668

 
$
6,922

 
$
8,728

 
$
11,092

 
$
16,068

 
 
 
 
 
 
 
 
 
 
 
Total earnings and fixed charges, excluding interest on deposits
 
$
145,100

 
$
121,554

 
$
91,727

 
$
68,910

 
$
71,532

Total earnings, fixed charges and preferred dividends, excluding interest on deposits
 
$
145,311

 
$
121,702

 
$
91,776

 
$
68,910

 
$
71,532

Total earnings and fixed charges, including interest on deposits
 
$
148,077

 
$
124,559

 
$
95,689

 
$
74,797

 
$
82,010

Total earnings, fixed charges and preferred dividends, including interest on deposits
 
$
148,288

 
$
124,707

 
$
95,738

 
$
74,797

 
$
82,010

Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
Including interest on deposits
 
22.93%
 
18.39%
 
11.03%
 
6.74%
 
5.10%
Excluding interest on deposits
 
41.70%
 
32.25%
 
19.45%
 
13.24%
 
12.80%
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
 
 
 
 
 
 
 
 
 
 
Including interest on deposits
 
22.24%
 
18.02%
 
10.97%
 
6.74%
 
5.10%
Excluding interest on deposits
 
39.37%
 
31.07%
 
19.26%
 
13.24%
 
12.80%