EX-12 2 ex12-20161231xibkc.htm EXHIBIT 12 Exhibit


EXHIBIT 12

 
COMPUTATION OF EARNINGS TO FIXED CHARGES
 
 
 
Years Ended December 31,
(Dollars in thousands)
 
2016
 
2015
 
2014
 
2013
 
2012
Net income
 
$
186,777

 
$
142,844

 
$
105,382

 
$
65,128

 
$
76,395

Income tax expense
 
85,193

 
64,094

 
35,683

 
16,133

 
28,496

Income before income tax expense
 
$
271,970

 
$
206,938

 
$
141,065

 
$
81,261

 
$
104,891

Fixed charges
 
 
 
 
 
 
 
 
 
 
Interest on short-term and other borrowings
 
$
16,121

 
$
11,997

 
$
11,614

 
$
11,107

 
$
14,086

Fixed charges excluding interest on deposits
 
16,121

 
11,997

 
11,614

 
11,107

 
14,086

Interest on deposits
 
51,580

 
47,103

 
33,090

 
35,846

 
49,364

Fixed charges including interest on deposits
 
$
67,701

 
$
59,100

 
$
44,704

 
$
46,953

 
$
63,450

Preferred stock dividends (1) (2)
 
7,977

 
—

 
—

 
—

 
—

Fixed charges including preferred stock dividends
 
$
75,678

 
$
59,100

 
$
44,704

 
$
46,953

 
$
63,450

Earnings for ratio computations (3)
 
 
 
 
 
 
 
 
 
 
Excluding interest on deposits
 
$
288,091

 
$
218,935

 
$
152,679

 
$
92,368

 
$
118,977

Including interest on deposits
 
$
339,671

 
$
266,038

 
$
185,769

 
$
128,214

 
$
168,341

Ratio of earnings to fixed charges (4)
 
 
 
 
 
 
 
 
 
 
Excluding interest on deposits
 
17.87

 
18.25

 
13.15

 
8.32

 
8.45

Including interest on deposits
 
5.02

 
4.50

 
4.16

 
2.73

 
2.65

Ratio of earnings to fixed charges and preferred dividends (3)
 
 
 
 
 
 
 
 
 
 
Excluding interest on deposits
 
11.95

 
18.25

 
13.15

 
8.32

 
8.45

Including interest on deposits
 
4.49

 
4.50

 
4.16

 
2.73

 
2.65

 

(1)
On May 9, 2016, the Company issued an aggregate 2.3 million depositary shares, each representing a 1/400th ownership interest in a share of the Company's 6.60% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series C. On December 13, 2016, the Company declared a quarterly cash dividend of $0.4125 per depositary share, which was paid on February 1, 2017.
(2)
On August 5, 2015, the Company issued an aggregate 3.2 million depositary shares, each representing a 1/400th ownership interest in a share of the Company's 6.625% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series B. On January 4, 2017, the Company declared a semi-annual cash dividend of $0.8281 per depositary share, which was paid on February 1, 2017.
(3) Earnings are the sum of income before income tax expense and fixed charges.
(4) For the purposes of calculating the ratio of earning to fixed charges, fixed charges are the sum of interest and debt
expenses, excluding interest on deposits, and, in the second alternative, fixed charges are the sum of interest and debt
expenses including interest on deposits.