Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
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| Three months |
| Years ended December 31, |
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(Dollars in thousands) |
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| 2017 |
| 2016 |
| 2015 |
| 2014 |
| 2013 |
| 2012 |
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Income before income taxes |
| A |
| $ | 88,018 |
| $ | 331,854 |
| $ | 251,765 |
| $ | 246,431 |
| $ | 224,440 |
| $ | 180,132 |
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Interest expense: |
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Interest on deposits |
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| $ | 16,270 |
| $ | 58,409 |
| $ | 48,863 |
| $ | 48,411 |
| $ | 53,191 |
| $ | 68,305 |
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Interest on other borrowings |
| C |
| 6,909 |
| 31,855 |
| 28,072 |
| 24,281 |
| 26,891 |
| 39,200 |
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Total interest expense |
| B |
| $ | 23,179 |
| $ | 90,264 |
| $ | 76,935 |
| $ | 72,692 |
| $ | 80,082 |
| $ | 107,505 |
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Ratio of earnings to fixed charges: |
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Including deposit interest |
| (A+B) / B |
| 4.80 | x | 4.68 | x | 4.27 | x | 4.39 | x | 3.80 | x | 2.68 | x | ||||||
Excluding deposit interest |
| (A+C) / C |
| 13.74 | x | 11.42 | x | 9.97 | x | 11.15 | x | 9.35 | x | 5.60 | x |