Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - BANK OF THE OZARKS INC | d939946d10q.htm |
| EX-31.1 - EX-31.1 - BANK OF THE OZARKS INC | d939946dex311.htm |
| EX-32.1 - EX-32.1 - BANK OF THE OZARKS INC | d939946dex321.htm |
| EX-32.2 - EX-32.2 - BANK OF THE OZARKS INC | d939946dex322.htm |
| EX-31.2 - EX-31.2 - BANK OF THE OZARKS INC | d939946dex312.htm |
Exhibit 12.1
Bank of the Ozarks, Inc.
Calculation of Ratio of Earnings to Fixed Charges
The following table presents the calculation of the consolidated ratio of earnings to fixed charges for the periods presented.
| Three Months Ended June 30, 2015 |
Six Months Ended June 30, 2015 |
Years Ended December 31, | ||||||||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||||||
| Earnings: |
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| Add: |
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| Net income before income taxes |
$ | 68,994 | $ | 127,051 | $ | 172,447 | $ | 131,414 | $ | 110,999 | $ | 151,511 | $ | 90,538 | ||||||||||||||
| Fixed charges |
6,455 | 12,529 | 21,225 | 18,831 | 21,825 | 30,645 | 34,584 | |||||||||||||||||||||
| Other |
— | 1 | 1 | 3 | 4 | 3 | 7 | |||||||||||||||||||||
| Less: |
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| Interest capitalized |
(7 | ) | (16 | ) | (24 | ) | (24 | ) | (24 | ) | (24 | ) | (24 | ) | ||||||||||||||
| Noncontrolling interest of subsidiaries |
28 | 52 | (18 | ) | 28 | 20 | (18 | ) | (77 | ) | ||||||||||||||||||
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| Earnings |
$ | 75,470 | $ | 139,617 | $ | 193,631 | $ | 150,252 | $ | 132,824 | $ | 182,117 | $ | 125,028 | ||||||||||||||
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| Fixed Charges: |
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| Interest expense: |
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| Deposits |
$ | 3,917 | $ | 7,454 | $ | 8,566 | $ | 6,103 | $ | 8,982 | $ | 11,686 | $ | 20,047 | ||||||||||||||
| FHLB advances and subordinated debentures |
2,429 | 4,858 | 12,389 | 12,531 | 12,618 | 18,749 | 14,290 | |||||||||||||||||||||
| Interest capitalized |
7 | 16 | 24 | 57 | 70 | 51 | 139 | |||||||||||||||||||||
| Estimated interest included within rental expense |
102 | 201 | 246 | 140 | 155 | 159 | 108 | |||||||||||||||||||||
| Preferred dividend requirements |
— | — | — | — | — | — | — | |||||||||||||||||||||
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| Fixed charges |
$ | 6,455 | $ | 12,529 | $ | 21,225 | $ | 18,831 | $ | 21,825 | $ | 30,645 | $ | 34,584 | ||||||||||||||
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| Ratio of Earnings to Fixed Charges (including deposit interest) |
11.69 | 11.14 | 9.12 | 7.98 | 6.09 | 5.94 | 3.62 | |||||||||||||||||||||
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| Ratio of Earnings to Fixed Charges (excluding deposit interest) |
29.74 | 27.51 | 15.30 | 11.80 | 10.34 | 9.61 | 8.60 | |||||||||||||||||||||
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The ratio of earnings to fixed charges is computed in accordance with item 503 of Regulation S-K by dividing (1) income before income taxes, fixed charges and amortization of capitalized interest, less interest capitalized and noncontrolling interest in income of subsidiaries that have not incurred fixed charges by (2) total fixed charges. For purposes of computing this ratio:
| • | fixed charges, including interest on deposits, include all interest expense, interest capitalized and the estimated portion of rental expense attributable to interest, net of income from subleases; and |
| • | fixed charges, excluding interest on deposits, include interest expense (other than on deposits), interest capitalized and the estimated portion of rental expense attributable to interest, net of income from subleases. |