Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - HomeStreet, Inc. | hmst-20170331x10q.htm |
| EX-32 - CERTIFCATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 - HomeStreet, Inc. | hmst-ex32q12017.htm |
| EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER - HomeStreet, Inc. | hmst-ex312q12017.htm |
| EX-31.1 - CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER - HomeStreet, Inc. | hmst-ex31110qq12017.htm |
Exhibit 12.1
Calculation of Ratios of Earnings to Fixed Charges
The following table sets forth our ratios or earnings to fixed charges, excluding interest on deposits and earnings to fixed charges, including interest on deposits for the periods indicated. The ratio of earnings to fixed charges was computed by dividing earnings by our fixed charges. For purposes of calculating these ratios, earnings consists of income before income taxes plus fixed charges and distributed income of equity investees less minority interest in pre-tax income of subsidiaries that have not incurred fixed charges. Fixed charges include interest expense, amortization expense and estimated interest component of rental expense.
Three Months Ended March 31, | Years Ended December 31, | |||||||||||||||||||
(Dollars in thousands) | 2017 | 2016 | 2016 | 2015 | 2014 | |||||||||||||||
Fixed Charges | ||||||||||||||||||||
Interest expense, excluding deposits | $ | 4,000 | $ | 1,794 | $ | 10,479 | $ | 4,975 | $ | 3,193 | ||||||||||
Amortization of premiums | 1,253 | 772 | 4,671 | 3,461 | 1,068 | |||||||||||||||
Estimated interest on rental expense (1) | 2,014 | 1,920 | 7,346 | 6,628 | 5,049 | |||||||||||||||
Preferred stock dividends | — | — | — | — | — | |||||||||||||||
Total Fixed Charges | $ | 7,267 | $ | 4,486 | $ | 22,496 | $ | 15,064 | $ | 9,310 | ||||||||||
Earnings | ||||||||||||||||||||
Income before income taxes | $ | 13,238 | $ | 9,646 | $ | 90,777 | $ | 56,907 | $ | 33,315 | ||||||||||
Add: distributed income of equity investees | 199 | 311 | 2,753 | 2,512 | 1,306 | |||||||||||||||
Add: fixed charges | 7,267 | 4,486 | 22,496 | 15,064 | 9,310 | |||||||||||||||
Less: minority interest in pre-tax income of subsidiaries that have not incurred fixed charges | 185 | 136 | 2,333 | 1,624 | 101 | |||||||||||||||
Total earnings | $ | 20,519 | $ | 14,307 | $ | 113,693 | $ | 72,859 | $ | 43,830 | ||||||||||
Ratio of Earnings to fixed charges, excluding interest on deposits | 2.82 | 3.19 | 5.05 | 4.84 | 4.71 | |||||||||||||||
(1) This amount is the portion of rent expense (generally one-third) deemed representative of the interest factor.
Exhibit 12.1
Three Months Ended March 31, | Years Ended December 31, | ||||||||||||||||||
(Dollars in thousands) | 2017 | 2016 | 2016 | 2015 | 2014 | ||||||||||||||
Fixed Charges | |||||||||||||||||||
Interest expense, including deposits | $ | 9,623 | $ | 5,363 | $ | 29,488 | $ | 16,776 | $ | 12,624 | |||||||||
Amortization of premiums | 1,253 | 772 | 4,671 | 3,461 | 1,068 | ||||||||||||||
Estimated interest on rental expense (1) | 2,014 | 1,920 | 7,346 | 6,628 | 5,049 | ||||||||||||||
Preferred stock dividends | — | — | — | — | — | ||||||||||||||
Total Fixed Charges | $ | 12,890 | $ | 8,055 | $ | 41,505 | $ | 26,865 | $ | 18,741 | |||||||||
Earnings | |||||||||||||||||||
Income before income taxes | $ | 13,238 | $ | 9,646 | $ | 90,777 | $ | 56,907 | $ | 33,315 | |||||||||
Add: distributed income of equity investees | 199 | 311 | 2,753 | 2,512 | 1,306 | ||||||||||||||
Add: fixed charges | 12,890 | 8,055 | 41,505 | 26,865 | 18,741 | ||||||||||||||
Subtract: minority interest in pre-tax income of subsidiaries that have not incurred fixed charges | 185 | 136 | 2,333 | 1,624 | 101 | ||||||||||||||
Total earnings | $ | 26,142 | $ | 17,876 | $ | 132,702 | $ | 84,660 | $ | 53,261 | |||||||||
Ratio of Earnings to fixed charges, including interest on deposits | 2.03 | 2.22 | 3.20 | 3.15 | 2.84 | ||||||||||||||
(1) This amount is the portion of rent expense (generally one-third) deemed representative of the interest factor.