STATEMENT OF RATIOS OF EARNINGS TO FIXED CHARGES
Amounts in thousands, except ratios | Nine months ended September 30, | Year ended December 31, | ||||||||||||||||||||||
Earnings: | 2016 | 2015 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||
1 | Income before income taxes | $ | 15,540 | $ | 10,414 | $ | 14,367 | $ | 9,553 | $ | 7,682 | $ | 6,469 | $ | 3,315 | |||||||||
2 | Plus: Interest expense | 6,542 | 5,645 | 7,660 | 7,306 | 6,529 | 7,774 | 10,551 | ||||||||||||||||
3 | Earnings including interest on deposits | 22,082 | 16,059 | 22,027 | 16,859 | 14,211 | 14,243 | 13,866 | ||||||||||||||||
4 | Less: Interest on deposits | 4,420 | 3,357 | 4,686 | 4,063 | 3,284 | 4,467 | 6,840 | ||||||||||||||||
5 | Earnings excluding interest on deposits | $ | 17,662 | $ | 12,702 | $ | 17,341 | $ | 12,796 | $ | 10,927 | $ | 9,776 | $ | 7,026 | |||||||||
Fixed Charges: | ||||||||||||||||||||||||
6 | Interest expense (line 2) | 6,542 | 5,645 | 7,660 | 7,306 | 6,529 | 7,774 | 10,551 | ||||||||||||||||
7 | Less: Interest expense on deposits (line 4) | 4,420 | 3,357 | 4,686 | 4,063 | 3,284 | 4,467 | 6,840 | ||||||||||||||||
8 | Excluding interest on deposits | $ | 2,122 | $ | 2,288 | $ | 2,974 | $ | 3,243 | $ | 3,245 | $ | 3,307 | $ | 3,711 | |||||||||
Ratio of Earnings to Fixed Charges: | ||||||||||||||||||||||||
Including interest on deposits (Item 3/Item 6) | 3.38 | 2.84 | 2.88 | 2.31 | 2.18 | 1.83 | 1.31 | |||||||||||||||||
Excluding interest on deposits (Item 5/Item 8) | 8.32 | 5.55 | 5.83 | 3.95 | 3.37 | 2.96 | 1.89 |