Attached files
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| 8-K - FORM 8-K - CULLEN/FROST BANKERS, INC. | d315405d8k.htm |
Exhibit 12.1
Cullen/Frost Bankers, Inc.
Statement Re: Computation of Ratio of Earnings to Fixed Charges and Earnings to Fixed Charges and
Preferred Stock Dividends
(Dollars in Thousands)
| Years Ended December 31, | ||||||||||||||||||||
| 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||
| Ratio Including Interest on Deposits: |
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| Income before income taxes |
$ | 341,411 | $ | 319,799 | $ | 336,024 | $ | 290,881 | $ | 308,475 | ||||||||||
| Interest expense - including interest on deposits |
12,076 | 12,864 | 14,537 | 21,945 | 26,751 | |||||||||||||||
| Estimated interest component of net rental expense |
10,870 | 8,598 | 8,387 | 6,954 | 5,416 | |||||||||||||||
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| Earnings |
$ | 364,357 | $ | 341,261 | $ | 358,948 | $ | 319,780 | $ | 340,642 | ||||||||||
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| Interest expense - including interest on deposits |
12,076 | 12,864 | 14,537 | 21,945 | 26,751 | |||||||||||||||
| Estimated interest component of net rental expense |
10,870 | 8,598 | 8,387 | 6,954 | 5,416 | |||||||||||||||
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| Fixed charges |
22,946 | 21,462 | 22,924 | 28,899 | 32,167 | |||||||||||||||
| Preferred stock dividends |
9,047 | 9,231 | 9,747 | 8,217 | — | |||||||||||||||
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| Fixed charges and preferred stock dividends |
$ | 31,993 | $ | 30,693 | $ | 32,671 | $ | 37,116 | $ | 32,167 | ||||||||||
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| Ratio of Earnings to Fixed Charges - Including Interest on Deposits |
15.88 | 15.90 | 15.66 | 11.07 | 10.59 | |||||||||||||||
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| Ratio of Earnings to Fixed Charges & Preferred Stock Dividends - Including Interest on Deposits |
11.39 | 11.12 | 10.99 | 8.62 | 10.59 | |||||||||||||||
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| Ratio Excluding Interest on Deposits: |
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| Income before income taxes |
$ | 341,411 | $ | 319,799 | $ | 336,024 | $ | 290,881 | $ | 308,475 | ||||||||||
| Interest expense - excluding interest on deposits |
4,828 | 3,840 | 3,515 | 7,486 | 8,652 | |||||||||||||||
| Estimated interest component of net rental expense |
10,870 | 8,598 | 8,387 | 6,954 | 5,416 | |||||||||||||||
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| Earnings |
$ | 357,109 | $ | 332,237 | $ | 347,926 | $ | 305,321 | $ | 322,543 | ||||||||||
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| Interest expense - excluding interest on deposits |
4,828 | 3,840 | 3,515 | 7,486 | 8,652 | |||||||||||||||
| Estimated interest component of net rental expense |
10,870 | 8,598 | 8,387 | 6,954 | 5,416 | |||||||||||||||
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| Fixed charges |
15,698 | 12,438 | 11,902 | 14,440 | 14,068 | |||||||||||||||
| Preferred stock dividends |
9,047 | 9,231 | 9,747 | 8,217 | — | |||||||||||||||
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| Fixed charges and preferred stock dividends |
$ | 24,745 | $ | 21,669 | $ | 21,649 | $ | 22,657 | $ | 14,068 | ||||||||||
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| Ratio of Earnings to Fixed Charges - Excluding Interest on Deposits |
22.75 | 26.71 | 29.23 | 21.14 | 22.93 | |||||||||||||||
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| Ratio of Earnings to Fixed Charges & Preferred Stock Dividends - Excluding Interest on Deposits |
14.43 | 15.33 | 16.07 | 13.48 | 22.93 | |||||||||||||||
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