Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
Year Ended December 31, | ||||||||||||||||||||
Excluding Interest on Deposits | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
Income From Continuing Operations Before Income Tax | 88,495 | 63,388 | 50,298 | 36,090 | 5,869 | |||||||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest Expense on borrowings | 19,578 | 14,050 | 3,281 | 685 | 603 | |||||||||||||||
Total earnings and fixed charges | 108,073 | 77,438 | 53,579 | 36,775 | 6,472 | |||||||||||||||
Total fixed charges, as above | 19,578 | 14,050 | 3,281 | 685 | 603 | |||||||||||||||
Ratio of earnings to fixed charges | 5.52 | 5.51 | 16.33 | 53.69 | 10.73 | |||||||||||||||
Including Interest on Deposits | ||||||||||||||||||||
Total earnings and fixed charges, as above | 108,073 | 77,438 | 53,579 | 36,775 | 6,472 | |||||||||||||||
Add: Interest expense on deposits | 33,982 | 24,454 | 21,020 | 21,076 | 21,861 | |||||||||||||||
Total earnings, fixed charges, and interest expense on deposits | 142,055 | 101,892 | 74,599 | 57,851 | 28,333 | |||||||||||||||
Total fixed charges, as above | 19,578 | 14,050 | 3,281 | 685 | 603 | |||||||||||||||
Add: Interest expense on deposits | 33,982 | 24,454 | 21,020 | 21,076 | 21,861 | |||||||||||||||
Total fixed charges including interest expense on deposits | 53,560 | 38,504 | 24,301 | 21,761 | 22,464 | |||||||||||||||
Ratio of earnings to fixed charges | 2.65 | 2.65 | 3.07 | 2.66 | 1.26 | |||||||||||||||
Amount by Which Earnings Were Insufficient to Cover Fixed Charges | - | - | - | - | - |
Computation of Ratio of Earnings to Fixed Charges
and Preferred Stock Dividend Requirements
(in thousands, except ratios)
Year Ended December 31, | ||||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
Excluding Interest on Deposits: | ||||||||||||||||||||
Income from continuing operations before income tax | 88,495 | 63,388 | 50,298 | 36,090 | 5,869 | |||||||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense on borrowings | 19,578 | 14,050 | 3,281 | 685 | 603 | |||||||||||||||
Total earnings and fixed charges | 108,073 | 77,438 | 53,579 | 36,775 | 6,472 | |||||||||||||||
Total fixed charges, as above | 19,578 | 14,050 | 3,281 | 685 | 603 | |||||||||||||||
Preferred stock dividends | 2,493 | 0 | 0 | 0 | 44 | |||||||||||||||
Total fixed charges and preferred stock dividends | 22,071 | 14,050 | 3,281 | 685 | 647 | |||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends | 4.90 | 5.51 | 16.33 | 53.69 | 10.00 | |||||||||||||||
Including Interest on Deposits: | ||||||||||||||||||||
Total earnings and fixed charges, as above | 108,073 | 77,438 | 53,579 | 36,775 | 6,472 | |||||||||||||||
Add: interest expense on deposits | 33,982 | 24,454 | 21,020 | 21,076 | 21,861 | |||||||||||||||
Total earnings, fixed charges, and interest expense on deposits | 142,055 | 101,892 | 74,599 | 57,851 | 28,333 | |||||||||||||||
Total fixed charges and preferred stock dividends, as above | 22,071 | 14,050 | 3,281 | 685 | 647 | |||||||||||||||
Add: interest expense on deposits | 33,982 | 24,454 | 21,020 | 21,076 | 21,861 | |||||||||||||||
Total fixed charges and preferred stock dividends, including interest expense on deposits | 56,053 | 38,504 | 24,301 | 21,761 | 22,508 | |||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends | 2.53 | 2.65 | 3.07 | 2.66 | 1.26 |