EXHIBIT 12
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| Six Months Ended |
| Years Ended December 31, |
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(Dollars in thousands) |
| June 30, 2015 |
| 2014 |
| 2013 |
| 2012 |
| 2011 |
| 2010 |
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Ratios of Earnings to Fixed Charges |
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Including Interest on Deposits in Fixed Charges(1) |
| 2.25 |
| 2.48 |
| 2.58 |
| 2.38 |
| 1.56 |
| 1.44 |
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Excluding Interest on Deposits in Fixed Charges(2) |
| 4.37 |
| 4.94 |
| 4.64 |
| 5.05 |
| 2.94 |
| 2.59 |
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(a) Pre-tax income from continuing operations |
| $ | 20,244 |
| $ | 45,507 |
| $ | 58,247 |
| $ | 47,048 |
| $ | 18,318 |
| $ | 16,035 |
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(b) Interest expense on deposits* |
| 10,241 |
| 19,185 |
| 20,859 |
| 22,482 |
| 23,372 |
| 26,316 |
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(c) Interest expense on borrowings* |
| 4,783 |
| 9,166 |
| 14,130 |
| 10,069 |
| 8,368 |
| 9,014 |
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(d) Rent expense** |
| 1,215 |
| 2,376 |
| 1,881 |
| 1,551 |
| 1,056 |
| 1,056 |
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* Interest expense includes amortized premiums, discounts and capitalized expenses related to deposits and borrowings.
** Consists of one-third of rent expense which approximates the interest rate component of rent expense.
(1) ((a) + (b) + (c) + (d))/((b) + (c) +(d))
(2) ((a) + (c) + (d))/((c) + (d))
