Attached files
Exhibit 12.1
Statement of Ratios of Earnings to Fixed Charges
Year ended December 31, | |||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||
(Dollars in Thousands) | |||||||||||||||
Earnings: | |||||||||||||||
1. Income before income taxes | $ | 41,311 | $ | 27,410 | $ | 27,409 | $ | 25,184 | $ | 21,337 | |||||
2. Plus: interest expense | 23,814 | 14,808 | 11,082 | 11,776 | 12,177 | ||||||||||
3. Earnings including interest on deposits | 65,125 | 42,218 | 38,491 | 36,960 | 33,514 | ||||||||||
4. Less: interest on deposits | 13,756 | 8,260 | 5,219 | 5,408 | 5,520 | ||||||||||
5. Earnings excluding interest on deposits | $ | 51,369 | $ | 33,958 | $ | 33,272 | $ | 31,552 | $ | 27,994 | |||||
Fixed Charges: | |||||||||||||||
6. Interest expense (Line 2) | $ | 23,814 | $ | 14,808 | $ | 11,082 | $ | 11,776 | $ | 12,177 | |||||
7. Less: interest expense on deposits (Line 4) | 13,756 | 8,260 | 5,219 | 5,408 | 5,520 | ||||||||||
8. Excluding interest on deposits | $ | 10,058 | $ | 6,548 | $ | 5,863 | $ | 6,368 | $ | 6,657 | |||||
Ratio of Earnings to Fixed Charges: | |||||||||||||||
Including interest on deposits (line 3 divided by Line 6) | 2.73 | 2.85 | 3.47 | 3.14 | 2.75 | ||||||||||
Excluding interest on deposits (line 5 divided by Line 8) | 5.11 | 5.19 | 5.67 | 4.95 | 4.21 |