Attached files
Exhibit 12.1
Twelve Months Ended December 31, | ||||||||||||||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||||||||
Excluding interest on deposits |
||||||||||||||||||||||||||||
Income before income taxes |
37,367 | 9,100 | 12,261 | 13,577 | 13,789 | 14,048 | 9,531 | |||||||||||||||||||||
Fixed charges |
||||||||||||||||||||||||||||
Interest on short-term borrowings & Long-term debt |
739 | 1,099 | 2,392 | 2,141 | 1,884 | 1,609 | 1,213 | |||||||||||||||||||||
one-third of net rental expense |
413 | 208 | 144 | 141 | 138 | 123 | 111 | |||||||||||||||||||||
Total fixed charges |
1,152 | 1,307 | 2,536 | 2,282 | 2,022 | 1,732 | 1,324 | |||||||||||||||||||||
Income from operations before income taxes and fixed charges |
38,519 | 10,407 | 14,797 | 15,859 | 15,811 | 15,780 | 10,855 | |||||||||||||||||||||
Fixed charges, as above |
1,152 | 1,307 | 2,536 | 2,282 | 2,022 | 1,732 | 1,324 | |||||||||||||||||||||
Preferred stock dividends (pretax)(1) |
1,659 | 1,600 | | | | | | |||||||||||||||||||||
Fixed charges including preferred stock dividends |
2,811 | 2,907 | 2,536 | 2,282 | 2,022 | 1,732 | 1,324 | |||||||||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividend requirements |
13.70 | 3.58 | 5.84 | 6.95 | 7.82 | 9.11 | 8.20 | |||||||||||||||||||||
Including interest on deposits |
||||||||||||||||||||||||||||
Fixed charges including preferred stock dividends, as above |
2,811 | 2,907 | 2,536 | 2,282 | 2,022 | 1,732 | 1,324 | |||||||||||||||||||||
Add: Interest on deposits |
11,091 | 12,920 | 18,442 | 22,669 | 16,557 | 9,957 | 7,624 | |||||||||||||||||||||
Total fixed charges including preferred stock dividends and interest on deposits |
13,902 | 15,827 | 20,978 | 24,951 | 18,579 | 11,689 | 8,948 | |||||||||||||||||||||
Income from operations before income taxes and fixed charges, as above |
38,519 | 10,407 | 14,797 | 15,859 | 15,811 | 15,780 | 10,855 | |||||||||||||||||||||
Add: Interest on deposits |
11,091 | 12,920 | 18,442 | 22,669 | 16,557 | 9,957 | 7,624 | |||||||||||||||||||||
Total income from operations before income taxes, fixed charges and interest on deposits |
49,610 | 23,327 | 33,239 | 38,528 | 32,368 | 25,737 | 18,479 | |||||||||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividend requirements |
3.57 | 1.47 | 1.58 | 1.54 | 1.74 | 2.20 | 2.07 | |||||||||||||||||||||
(1) | The preferred dividends, including accretion, were increased to amounts representing the pretax earnings that would be required to cover such dividend and accretion requirements |