EXHIBIT 12.1
HOPE BANCORP, INC.
RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31, | ||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Excluding interest on deposits | 13.12x | 13.44x | 15.24x | 14.62x | 14.10x | |||||||||||||||
Including interest on deposits | 3.73x | 4.01x | 4.50x | 4.67x | 5.00x | |||||||||||||||
Net income | $ | 139,445 | $ | 113,747 | $ | 92,258 | $ | 88,615 | $ | 81,755 | ||||||||||
Income tax provision | 124,389 | 77,452 | 63,091 | 57,907 | 52,399 | |||||||||||||||
Income before income taxes | $ | 263,834 | $ | 191,199 | $ | 155,349 | $ | 146,522 | $ | 134,154 | ||||||||||
Earnings before income taxes and fixed charges including interest on deposits | $ | 360,503 | $ | 254,662 | $ | 199,674 | $ | 186,460 | $ | 167,713 | ||||||||||
Earnings before income taxes and fixed charges excluding interest on deposits | $ | 285,601 | $ | 206,571 | $ | 166,262 | $ | 157,282 | $ | 144,392 | ||||||||||
Interest on deposits | $ | 74,902 | $ | 48,091 | $ | 33,412 | $ | 29,178 | $ | 23,321 | ||||||||||
Interest on other borrowings | 15,822 | 10,488 | 7,206 | 6,882 | 6,697 | |||||||||||||||
Estimate of interest within rental expense * | 5,945 | 4,884 | 3,707 | 3,878 | 3,541 | |||||||||||||||
Preferred stock dividends | — | — | — | — | — | |||||||||||||||
Total fixed charges and Preferred Stock dividends, Including interest on deposits | $ | 96,669 | $ | 63,463 | $ | 44,325 | $ | 39,938 | $ | 33,559 | ||||||||||
Total fixed charges and Preferred Stock dividends, excluding interest on deposits | $ | 21,767 | $ | 15,372 | $ | 10,913 | $ | 10,760 | $ | 10,238 | ||||||||||
* Estimate of interest within rental expense is estimated to be one-third of rental expense which is considered a reasonable approximation of the interest factor.