EX-12 2 colb2016ex12.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,
 
 
2016
 
2015
 
2014
 
2013
 
2012
 
 
(dollars in thousands)
Income before tax
 
$
149,781

 
$
141,620

 
$
117,785

 
$
87,010

 
$
63,705

Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest expense on borrowings
 
1,216

 
1,027

 
989

 
1,878

 
3,690

Estimate of interest within rental expense (1/3 of rental expense)
 
2,887

 
2,453

 
2,780

 
2,839

 
1,515

Subtotal for fixed charges
 
$
4,103

 
$
3,480

 
$
3,769

 
$
4,717

 
$
5,205

Preferred dividend requirement on a pre-tax basis
 
242

 
211

 
148

 
49

 
—

Fixed charges and preferred dividends, excluding interest on deposits
 
$
4,345

 
$
3,691

 
$
3,917

 
$
4,766

 
$
5,205

Interest expense on deposits
 
$
3,134

 
$
2,977

 
$
3,005

 
$
3,962

 
$
5,887

Fixed charges and preferred dividends, including interest on deposits
 
$
7,479

 
$
6,668

 
$
6,922

 
$
8,728

 
$
11,092

 
 
 
 
 
 
 
 
 
 
 
Total earnings and fixed charges, excluding interest on deposits
 
$
153,884

 
$
145,100

 
$
121,554

 
$
91,727

 
$
68,910

Total earnings, fixed charges and preferred dividends, excluding interest on deposits
 
$
154,126

 
$
145,311

 
$
121,702

 
$
91,776

 
$
68,910

Total earnings and fixed charges, including interest on deposits
 
$
157,018

 
$
148,077

 
$
124,559

 
$
95,689

 
$
74,797

Total earnings, fixed charges and preferred dividends, including interest on deposits
 
$
157,260

 
$
148,288

 
$
124,707

 
$
95,738

 
$
74,797

Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
Including interest on deposits
 
21.70%
 
22.93%
 
18.39%
 
11.03%
 
6.74%
Excluding interest on deposits
 
37.51%
 
41.70%
 
32.25%
 
19.45%
 
13.24%
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
 
 
 
 
 
 
 
 
 
 
Including interest on deposits
 
21.03%
 
22.24%
 
18.02%
 
10.97%
 
6.74%
Excluding interest on deposits
 
35.47%
 
39.37%
 
31.07%
 
19.26%
 
13.24%