Exhibit 12.1
BBCN Bancorp, Inc.
Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
For the Year ended December 31, | ||||||||||||||||||||
(Dollars in thousands) | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||
Earnings excluding interest on deposits (1): | ||||||||||||||||||||
Earnings (losses) before income tax provision (benefit) | $ | 42,775 | $ | (15,139 | ) | $ | (11,922 | ) | $ | 4,380 | $ | 55,798 | ||||||||
Fixed charges | 14,716 | 16,197 | 17,210 | 18,709 | 12,666 | |||||||||||||||
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$ | 57,491 | $ | 1,058 | $ | 5,288 | $ | 23,089 | $ | 68,464 | |||||||||||
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Preferred dividends and discount accretion (2): | $ | 6,633 | $ | 7,948 | $ | 7,904 | $ | 693 | $ | — | ||||||||||
Fixed charges (1) : | ||||||||||||||||||||
Interest on borrowings | $ | 9,926 | $ | 12,099 | $ | 13,041 | $ | 13,932 | $ | 6,988 | ||||||||||
Interest on long-term debt, including amortization of debt issuance costs | 1,937 | 1,881 | 2,055 | 2,845 | 3,750 | |||||||||||||||
Portion of long-term lease expense representative of the interest factor(3) | 2,853 | 2,217 | 2,114 | 1,932 | 1,928 | |||||||||||||||
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$ | 14,716 | $ | 16,197 | $ | 17,210 | $ | 18,709 | $ | 12,666 | |||||||||||
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Ratio of earnings (losses) to fixed charges | 3.91 | 0.07 | 0.31 | 1.23 | 5.41 | |||||||||||||||
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Ratio of earnings (losses) to fixed charges and preferred dividends anddiscount accretion | 2.69 | 0.04 | 0.21 | 1.19 | 5.41 | |||||||||||||||
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Earnings including interest on deposits (1): | ||||||||||||||||||||
Earnings (losses) before income tax provision (benefit) | $ | 42,775 | $ | (15,139 | ) | $ | (11,922 | ) | $ | 4,380 | $ | 55,798 | ||||||||
Fixed charges | 34,961 | 44,079 | 67,846 | 72,789 | 80,913 | |||||||||||||||
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$ | 77,736 | $ | 28,940 | $ | 55,924 | $ | 77,169 | $ | 136,711 | |||||||||||
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Preferred dividends and discount accretion (2): | $ | 6,633 | $ | 7,948 | $ | 7,904 | $ | 693 | $ | — | ||||||||||
Fixed charges (1): | ||||||||||||||||||||
Interest on borrowings and deposits | $ | 30,171 | $ | 39,981 | $ | 63,677 | $ | 68,012 | $ | 75,235 | ||||||||||
Interest on long-term debt, including amortization of debt issuance costs | 1,937 | 1,881 | 2,055 | 2,845 | 3,750 | |||||||||||||||
Portion of long-term lease expense representative of the interest factor(3) | 2,853 | 2,217 | 2,114 | 1,932 | 1,928 | |||||||||||||||
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$ | 34,961 | $ | 44,079 | $ | 67,846 | $ | 72,789 | $ | 80,913 | |||||||||||
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Ratio of earnings (losses) to fixed charges | 2.22 | 0.66 | 0.82 | 1.06 | 1.69 | |||||||||||||||
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Ratio of earnings (losses) to fixed charges and preferred dividends anddiscount accretion | 1.87 | 0.56 | 0.74 | 1.05 | 1.69 | |||||||||||||||
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Amounts of Coverage Deficiency | ||||||||||||||||||||
Excluding interest on deposits | $ | — | $ | 23,087 | $ | 19,826 | $ | — | $ | — | ||||||||||
Excluding interest on deposits | $ | — | $ | 23,087 | $ | 19,826 | $ | — | $ | — |
(1) | As defined in Item 503(d) of Regulation S-K |
(2) | Increased to amounts representing the pretax earnings (losses) that would be required to cover such dividend requirements. |
(3) | The interest factor is estimated to be one-third of long-term lease expense. |