Years Ended December 31,

(dollars in thousands)

2017

2016

2015

2014

2013

Earnings:

Income before income taxes

$

185,736

$

159,102

$

135,216

$

86,216

$

75,325

Fixed charges, excluding preferred stock dividend requirement

40,147

27,640

19,238

13,095

12,504

Total earnings including fixed charges (a)

$

225,883

$

186,742

$

154,454

$

99,311

$

87,829

Fixed charges:

Interest on deposits

$

27,286

$

19,248

$

14,343

$

9,638

$

10,614

Interest on customer repurchase agreements and federal funds purchased

197

167

132

143

254

Interest on short-term borrowings

748

732

86

31

—

Interest on long-term borrowings deposits

11,916

7,493

4,677

3,283

1,636

Preferred stock dividend requirements (pre-tax)

—

—

965

976

907

Total fixed charges (b)

$

40,147

$

27,640

$

20,203

$

14,071

$

13,411

Ratio of earnings to fixed charges and preferred stock dividend requirement (pre-tax) (a/b)

5.63

6.76

7.65

7.06

6.55

Earnings, excluding interest on deposits:

Total earnings including fixed charges

$

225,883

$

186,742

$

154,454

$

99,311

$

87,829

Less interest on deposits

27,286

19,248

14,343

9,638

10,614

Total earnings excluding interest on deposits (c)

$

198,597

$

167,494

$

140,111

$

89,673

$

77,215

Fixed charges, excluding interest on deposits:

Total fixed charges

$

40,147

$

27,640

$

20,203

$

14,071

$

13,411

Less interest on deposits

27,286

19,248

14,343

9,638

10,614

Total fixed charges, excluding interest on deposits (d)

$

12,861

$

8,392

$

5,860

$

4,433

$

2,797

Ratio of earnings to fixed charges and preferred stock dividend requirement (pre-tax), excluding interest on deposits (c/d)

15.44

19.96

23.91

20.23

27.61