ENTERPRISE FINANCIAL SERVICES CORP - FORM 10-Q - EX-12.1 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS - October 26, 2018

Attached files

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EX-32.2 - CHIEF FINANCIAL OFFICER CERTIFICATION PURSUANT TO 18 U.S.C SECT 1350 - ENTERPRISE FINANCIAL SERVICES CORPa2018930-ex322.htm
EX-32.1 - CHIEF EXECUTIVE OFFICER CERTIFICATION PURSUANT TO 18 U.S.C SECT 1350 - ENTERPRISE FINANCIAL SERVICES CORPa2018930-ex321.htm
EX-31.2 - CHIEF FINANCIAL OFFICER CERTIFICATION REQUIRED BY RULE 13(A)-14(A) - ENTERPRISE FINANCIAL SERVICES CORPa2018930-ex312.htm
EX-31.1 - CHIEF EXECUTIVE OFFICER CERTIFICATION REQUIRED BY RULE 13(A)-14(A) - ENTERPRISE FINANCIAL SERVICES CORPa2018930-ex311.htm
10-Q - 10-Q - ENTERPRISE FINANCIAL SERVICES CORPa2018930-10q.htm


Exhibit 12.1

Enterprise Financial Services Corp
Statement Regarding Computation of Ratios of Earnings to Fixed Charges and Preferred Stock Dividend Requirement (unaudited)
 
Nine Months Ended
September 30,
 
Years ended December 31,
($ in thousands)
2018
 
2017
2016
2015
2014
2013
Earnings (1):
 
 
 
 
 
 
 
Income before income tax expense
$
76,149

 
$
86,517

$
74,839

$
58,401

$
41,044

$
50,080

Add: Fixed charges from below
32,488

 
25,235

13,729

12,369

14,386

18,137

Earnings including interest expense on deposits (a)
$
108,637

 
$
111,752

$
88,568

$
70,770

$
55,430

$
68,217

 
 
 
 
 
 
 
 
Less: interest expense on deposits
(23,187
)
 
(17,200
)
(10,841
)
(10,412
)
(10,487
)
(11,142
)
Earnings excluding interest expense on deposits (b)
$
85,450

 
$
94,552

$
77,727

$
60,358

$
44,943

$
57,075

 
 
 
 
 
 
 
 
Fixed charges (1):
 
 
 
 
 
 
 
Interest on deposits
$
23,187

 
$
17,200

$
10,841

$
10,412

$
10,487

$
11,142

Interest on borrowings
9,301

 
8,035

2,888

1,957

3,899

6,995

TARP preferred stock dividends (pre-tax)
—

 
—

—

—

—

—

Fixed charges including interest on deposits (c)
$
32,488

 
$
25,235

$
13,729

$
12,369

$
14,386

$
18,137

 
 
 
 
 
 
 
 
Less: interest expense on deposits
(23,187
)
 
(17,200
)
(10,841
)
(10,412
)
(10,487
)
(11,142
)
Fixed charges excluding interest expense on deposits (d)
$
9,301

 
$
8,035

$
2,888

$
1,957

$
3,899

$
6,995

 
 
 
 
 
 
 
 
Ratio of earnings to combined fixed charges
 
 
 
 
 
 
 
     Excluding interest on deposits (b/d)
9.19x

 
11.77x

26.91x

30.85x

11.53x

 8.16x

     Including interest on deposits (a/c)
3.34x

 
4.43x

6.45x

5.72x

3.85x

 3.76x

 
 
 
 
 
 
 
 
Ratio of earnings to combined fixed charges and preferred dividends:
 
 
 
 
 
 
 
     Excluding interest on deposits (b/d) (2)
9.19x

 
11.77x

26.91x

30.85x

11.53x

 8.16x

     Including interest on deposits (a/c)
3.34x

 
4.43x

6.45x

5.72x

3.85x

 3.76x


(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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