Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
The consolidated ratios of earnings to fixed charges for each of the years indicated are as follows:
Three Months Ended December 31, | For the Twelve Months Ended September 30, | |||||||||||||||||||||||||||
(dollars in thousands) | 2016 | 2015 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income (Loss) before income taxes | $ | 1,462 | $ | 1,344 | $ | 5,976 | $ | 3,698 | $ | 344 | $ | (12,793 | ) | $ | 2,587 | |||||||||||||
Plus: interest expense | 1,866 | 1,476 | 6,732 | 5,248 | 5,071 | 6,944 | 8,412 | |||||||||||||||||||||
Earnings including interest on deposits | $ | 3,328 | $ | 2,820 | $ | 12,708 | $ | 8,946 | $ | 5,415 | $ | (5,849 | ) | $ | 10,999 | |||||||||||||
Less: interest on deposits | 1,324 | 964 | 4,537 | 3,431 | 3,969 | 5,279 | 6,692 | |||||||||||||||||||||
Earnings excluding interest on deposits | $ | 2,004 | $ | 1,856 | $ | 8,171 | $ | 5,515 | $ | 1,446 | $ | (11,128 | ) | $ | 4,307 | |||||||||||||
Fixed charges (pre-tax) | ||||||||||||||||||||||||||||
Fixed charges including interest on deposits | $ | 1,866 | $ | 1,476 | $ | 6,732 | $ | 5,248 | $ | 5,071 | $ | 6,944 | $ | 8,412 | ||||||||||||||
Less: interest on deposits | 1,324 | 964 | 4,537 | 3,431 | 3,969 | 5,279 | 6,692 | |||||||||||||||||||||
Fixed charges excluding interest on deposits | $ | 524 | $ | 512 | $ | 2,195 | $ | 1,817 | $ | 1,102 | $ | 1,665 | $ | 1,720 | ||||||||||||||
Ratio of Earnings to Fixed Charges: | ||||||||||||||||||||||||||||
Excluding interest on deposits | 3.7 | 3.6 | 3.7 | 3.0 | 1.3 | -6.7 | 2.5 | |||||||||||||||||||||
Including interest on deposits | 1.8 | 1.9 | 1.9 | 1.7 | 1.1 | -0.8 | 1.3 |