EX-12.1 4 exhibit121-ratioofearnings.htm EXHIBIT 12.1 Exhibit


STATEMENT OF RATIOS OF EARNINGS TO FIXED CHARGES

Amounts in thousands, except ratios
 
Nine months ended September 30,
 
Year ended December 31,
Earnings:
 
2016
2015
 
2015
2014
2013
2012
2011
1
Income before income taxes
 
$
15,540

$
10,414

 
$
14,367

$
9,553

$
7,682

$
6,469

$
3,315

2
Plus: Interest expense
 
6,542

5,645

 
7,660

7,306

6,529

7,774

10,551

3
Earnings including interest on deposits
 
22,082

16,059

 
22,027

16,859

14,211

14,243

13,866

4
Less: Interest on deposits
 
4,420

3,357

 
4,686

4,063

3,284

4,467

6,840

5
Earnings excluding interest on deposits
 
$
17,662

$
12,702

 
$
17,341

$
12,796

$
10,927

$
9,776

$
7,026

Fixed Charges:
 
 
 
 
 
 
 
 
 
6
Interest expense (line 2)
 
6,542

5,645

 
7,660

7,306

6,529

7,774

10,551

7
Less: Interest expense on deposits (line 4)
 
4,420

3,357

 
4,686

4,063

3,284

4,467

6,840

8
Excluding interest on deposits
 
$
2,122

$
2,288

 
$
2,974

$
3,243

$
3,245

$
3,307

$
3,711

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Including interest on deposits (Item 3/Item 6)
 
3.38

2.84

 
2.88

2.31

2.18

1.83

1.31

 
 
 
 
 
 
 
 
 
 
 
 
Excluding interest on deposits (Item 5/Item 8)
 
8.32

5.55

 
5.83

3.95

3.37

2.96

1.89