Jernigan Capital, Inc. - FORM 10-K - EX-12.1 - EXHIBIT 12.1

file	filename
EX-99.1 - EXHIBIT 99.1 - Jernigan Capital, Inc.	jcap-20171231xex99_1.htm
EX-99.2 - EXHIBIT 99.2 - Jernigan Capital, Inc.	jcap-20171231xex99_2.htm
EX-32.1 - EXHIBIT 32.1 - Jernigan Capital, Inc.	jcap-20171231xex32_1.htm
EX-31.2 - EXHIBIT 31.2 - Jernigan Capital, Inc.	jcap-20171231xex31_2.htm
EX-31.1 - EXHIBIT 31.1 - Jernigan Capital, Inc.	jcap-20171231xex31_1.htm
EX-23.3 - EXHIBIT 23.3 - Jernigan Capital, Inc.	jcap-20171231xex23_3.htm
EX-23.2 - EXHIBIT 23.2 - Jernigan Capital, Inc.	jcap-20171231xex23_2.htm
EX-23.1 - EXHIBIT 23.1 - Jernigan Capital, Inc.	jcap-20171231xex23_1.htm
EX-21.1 - EXHIBIT 21.1 - Jernigan Capital, Inc.	jcap-20171231xex21_1.htm
10-K - FORM 10-K - Jernigan Capital, Inc.	jcap-20171231x10k.htm

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO COMBINED

FIXED CHARGES AND PREFERRED STOCK DIVIDENDS



		For the year ended December 31,
		2017		2016		2015
Earnings:
Net income (loss)	$	14,559	$	16,017	$	(2,943)
Add back:
Fixed charges		1,059		564		58
Distribution of income from investments in unconsolidated entities		700		995		-
Less:
Equity in earnings from unconsolidated entities		(2,263)		(1,278)		-
Total earnings (loss) (A)	$	14,055	$	16,298	$	(2,885)

Fixed charges:
Interest expense	$	1,053	$	559	$	-
Portion of rent expense representative of interest factor		6		5		58
Total fixed charges (B)	$	1,059	$	564	$	58
Preferred dividends		1,456		996		-
Total Fixed Charges and Preferred Dividends (C)	$	2,515	$	1,560	$	58

Ratio of earnings (loss) to fixed charges (A / B)		13.27		28.90		(49.74)
Insufficient coverage (A - B)		n/a		n/a	$	(2,943)

Ratio of earnings (loss) to fixed charges and preferred dividends (A / C)		5.59		10.45		(49.74)
Insufficient coverage (A - C)		n/a		n/a	$	(2,943)

Jernigan Capital, Inc. - FORM 10-K - EX-12.1 - EXHIBIT 12.1 - March 2, 2018