ENTERPRISE FINANCIAL SERVICES CORP - FORM 10-Q - EX-12.1 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS - July 28, 2017

Attached files

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EX-32.2 - CHIEF FINANCIAL OFFICER CERTIFICATION PURSUANT TO 18 U.S.C SECT 1350 - ENTERPRISE FINANCIAL SERVICES CORPa2017630-ex322.htm
EX-32.1 - CHIEF EXECUTIVE OFFICER CERTIFICATION PURSUANT TO 18 U.S.C SECT 1350 - ENTERPRISE FINANCIAL SERVICES CORPa2017630-ex321.htm
EX-31.2 - CHIEF FINANCIAL OFFICER CERTIFICATION REQUIRED BY RULE 13(A)-14(A) - ENTERPRISE FINANCIAL SERVICES CORPa2017630-ex312.htm
EX-31.1 - CHIEF EXECUTIVE OFFICER CERTIFICATION REQUIRED BY RULE 13(A)-14(A) - ENTERPRISE FINANCIAL SERVICES CORPa2017630-ex311.htm
10-Q - 10-Q - ENTERPRISE FINANCIAL SERVICES CORPa2017630-10q.htm


Exhibit 12.1

Enterprise Financial Services Corp
Statement Regarding Computation of Ratios of Earnings to Fixed Charges and Preferred Stock Dividend Requirement (unaudited)
 
Six Months Ended
June 30,
 
Years ended December 31,
($ in thousands)
2017
 
2016
2015
2014
2013
2012
Earnings (1):
 
 
 
 
 
 
 
Income before income tax expense
$
34,997

 
$
74,839

$
58,401

$
41,044

$
50,080

$
42,830

Add: Fixed charges from below
11,007

 
13,729

12,369

14,386

18,137

28,002

Earnings including interest expense on deposits (a)
$
46,004

 
$
88,568

$
70,770

$
55,430

$
68,217

$
70,832

 
 
 
 
 
 
 
 
Less: interest expense on deposits
(7,424
)
 
(10,841
)
(10,412
)
(10,487
)
(11,142
)
(15,406
)
Earnings excluding interest expense on deposits (b)
$
38,580

 
$
77,727

$
60,358

$
44,943

$
57,075

$
55,426

 
 
 
 
 
 
 
 
Fixed charges (1):
 
 
 
 
 
 
 
Interest on deposits
$
7,424

 
$
10,841

$
10,412

$
10,487

$
11,142

$
15,406

Interest on borrowings
3,583

 
2,888

1,957

3,899

6,995

7,761

TARP preferred stock dividends (pre-tax)
—

 
—

—

—

—

4,835

Fixed charges including interest on deposits (c)
$
11,007

 
$
13,729

$
12,369

$
14,386

$
18,137

$
28,002

 
 
 
 
 
 
 
 
Less: interest expense on deposits
(7,424
)
 
(10,841
)
(10,412
)
(10,487
)
(11,142
)
(15,406
)
Fixed charges excluding interest expense on deposits (d)
$
3,583

 
$
2,888

$
1,957

$
3,899

$
6,995

$
12,596

 
 
 
 
 
 
 
 
Ratio of earnings to combined fixed charges
 
 
 
 
 
 
 
     Excluding interest on deposits (b/d)
10.77x

 
26.91x

30.85x

11.53x

 8.16x

4.40x

     Including interest on deposits (a/c)
4.18x

 
6.45x

5.72x

3.85x

 3.76x

2.53x

 
 
 
 
 
 
 
 
Ratio of earnings to combined fixed charges and preferred dividends:
 
 
 
 
 
 
 
     Excluding interest on deposits (b/d) (2)
10.77x

 
26.91x

30.85x

11.53x

 8.16x

6.52x

     Including interest on deposits (a/c)
4.18x

 
6.45x

5.72x

3.85x

 3.76x

2.85x


(1) As defined in Item 503(d) of Regulation S-K.

(2) The ratio of earnings to fixed charges and preferred dividends, excluding interest on deposits, is being provided as an additional measure to provide comparability to the ratios disclosed by all other issuers of debt securities.



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