Exhibit 12.1
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| For the |
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| nine months |
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| ended |
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| Sept. 30, |
| For the year ended December 31, |
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| 2015 |
| 2014 |
| 2013 |
| 2012 |
| 2011 |
| 2010 |
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INCLUDING INTEREST ON DEPOSITS |
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Earnings |
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Net income before income taxes |
| 7,932,239 |
| 1,982,869 |
| 5,002,816 |
| 5,834,317 |
| 3,714,308 |
| 3,031,847 |
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Plus: Total Fixed Charges (see below) |
| 6,756,962 |
| 8,083,043 |
| 5,549,569 |
| 4,930,881 |
| 4,900,503 |
| 5,469,706 |
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Less: Preferred stock dividends |
| 429,847 |
| 331,615 |
| 85,000 |
| 136,000 |
| 44,000 |
| — |
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Total Earnings |
| 14,259,354 |
| 9,734,297 |
| 10,467,385 |
| 10,629,198 |
| 8,570,811 |
| 8,501,553 |
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Fixed Charges |
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Total interest expense |
| 6,756,962 |
| 8,083,043 |
| 5,549,569 |
| 4,930,881 |
| 4,900,503 |
| 5,469,706 |
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Interest included in operating lease rental expense |
| — |
| — |
| — |
| — |
| — |
| — |
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Total Fixed Charges |
| 6,756,962 |
| 8,083,043 |
| 5,549,569 |
| 4,930,881 |
| 4,900,503 |
| 5,469,706 |
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Preferred Stock Dividends |
| 429,847 |
| 331,615 |
| 85,000 |
| 136,000 |
| 44,000 |
| — |
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Total Fixed Charges and Preferred Stock Dividends |
| 7,186,809 |
| 8,414,658 |
| 5,634,569 |
| 5,066,881 |
| 4,944,503 |
| 5,469,706 |
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Ratio of Earnings to Fixed Charges |
| 2.11 |
| 1.20 |
| 1.89 |
| 2.16 |
| 1.75 |
| 1.55 |
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Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
| 1.98 |
| 1.16 |
| 1.86 |
| 2.10 |
| 1.73 |
| 1.55 |
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EXCLUDING INTEREST ON DEPOSITS |
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Earnings |
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Net income before income taxes |
| 7,932,239 |
| 1,982,869 |
| 5,002,816 |
| 5,834,317 |
| 3,714,308 |
| 3,031,847 |
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Plus: Total Fixed Charges (see below) |
| 2,203,057 |
| 2,520,391 |
| 1,572,149 |
| 1,064,714 |
| 1,047,823 |
| 1,068,690 |
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Less: Preferred stock dividends |
| 429,847 |
| 331,615 |
| 85,000 |
| 136,000 |
| 44,000 |
| — |
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Total Earnings |
| 9,705,449 |
| 4,171,645 |
| 6,489,965 |
| 6,763,031 |
| 4,718,131 |
| 4,100,537 |
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Fixed Charges |
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Total interest expense |
| 6,756,962 |
| 8,083,043 |
| 5,549,569 |
| 4,930,881 |
| 4,900,503 |
| 5,469,706 |
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Interest included in operating lease rental expense |
| — |
| — |
| — |
| — |
| — |
| — |
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Less: Interest expense on deposits |
| 4,553,905 |
| 5,562,652 |
| 3,977,420 |
| 3,866,167 |
| 3,852,680 |
| 4,401,016 |
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Total Fixed Charges (excluding interest on deposits) |
| 2,203,057 |
| 2,520,391 |
| 1,572,149 |
| 1,064,714 |
| 1,047,823 |
| 1,068,690 |
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Preferred Stock Dividends |
| 429,847 |
| 331,615 |
| 85,000 |
| 136,000 |
| 44,000 |
| — |
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Total Fixed Charges and Preferred Stock Dividends (excluding interest on deposits) |
| 2,632,904 |
| 2,852,006 |
| 1,657,149 |
| 1,200,714 |
| 1,091,823 |
| 1,068,690 |
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Ratio of Earnings to Fixed Charges |
| 4.41 |
| 1.66 |
| 4.13 |
| 6.35 |
| 4.50 |
| 3.84 |
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Ratio of Earnings to Fixed Charges and Preferred Stock Dividends |
| 3.69 |
| 1.46 |
| 3.92 |
| 5.63 |
| 4.32 |
| 3.84 |
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