S.Y. BANCORP, INC.
COMPUTATION OF HISTORICAL RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
| | As of or For the Three Months Ended March 31, | As of or For the Year Ended December 31, | ||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | 2001 | 2000 | 2000 | 1999 | 1998 | 1997 | 1996 | |||||||||||||||||
| | (Dollars in thousands) | |||||||||||||||||||||||
Earnings: | |||||||||||||||||||||||||
1. | Income before income taxes | $ | 4,478 | $ | 3,812 | $ | 17,025 | $ | 14,324 | $ | 12,047 | $ | 9,407 | $ | 7,621 | ||||||||||
2. | Plus interest expense | 8,320 | 6,068 | 29,233 | 21,054 | 19,578 | 15,616 | 12,600 | |||||||||||||||||
3. | Earnings including interest on deposits | 12,798 | 9,880 | 46,258 | 35,378 | 31,625 | 25,023 | 20,221 | |||||||||||||||||
4. | Less interest on deposits | 7,685 | 5,367 | 26,381 | 19,134 | 18,437 | 14,607 | 11,781 | |||||||||||||||||
5. | Earnings excluding interest on deposits | 5,113 | 4,513 | 19,877 | 16,244 | 13,188 | 10,416 | 8,440 | |||||||||||||||||
Fixed Charges: | |||||||||||||||||||||||||
Interest expense (Line 2) | 8,320 | 6,068 | 29,233 | 21,054 | 19,578 | 15,616 | 12,600 | ||||||||||||||||||
One third of net rental expense | 49 | 47 | 194 | 170 | 120 | 79 | 86 | ||||||||||||||||||
6. | Including interest on deposits and capitalized interest | 8,369 | 6,115 | 29,427 | 21,224 | 19,698 | 15,695 | 12,686 | |||||||||||||||||
7. | Less interest on deposits (Line 4) | 7,685 | 5,367 | 26,381 | 19,134 | 18,437 | 14,607 | 11,781 | |||||||||||||||||
8. | Excluding interest on deposits | 684 | 748 | 3,046 | 2,090 | 1,261 | 1,088 | 905 | |||||||||||||||||
Ratio of earnings to fixed charges: | |||||||||||||||||||||||||
Including interest on deposits (Line 3 divided by Line 6) | 1.53 | x | 1.62 | x | 1.57 | x | 1.67 | x | 1.61 | x | 1.59 | x | 1.59 | x | |||||||||||
Excluding interest on deposits (Line 5 divided by Line 8) | 7.48 | 6.03 | 6.53 | 7.77 | 10.46 | 9.57 | 9.33 |