Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
| Nine months ended |
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| For the Year Ended December 31, |
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| 9/30/2018 |
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| 9/30/2017 |
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| 2017 |
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| 2016 |
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| 2015 |
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| 2014 |
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| 2013 |
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Including Interest on Deposits: |
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Earnings: |
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Net income | $ | 26,614 |
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| $ | 20,640 |
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| $ | 25,528 |
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| $ | 19,079 |
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| $ | 12,973 |
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| $ | 10,428 |
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| $ | 7,004 |
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Income tax expense |
| 5,913 |
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| 13,789 |
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| 21,269 |
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| 13,489 |
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| 8,996 |
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| 7,137 |
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| 5,310 |
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Fixed charges |
| 14,045 |
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| 10,350 |
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| 13,938 |
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| 11,708 |
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| 6,936 |
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| 4,522 |
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| 3,367 |
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Total earnings before income taxes and fixed charges | $ | 46,572 |
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| $ | 44,779 |
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| $ | 60,735 |
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| $ | 44,276 |
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| $ | 28,905 |
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| $ | 22,087 |
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| $ | 15,681 |
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Fixed charges: |
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Deposit interest expense | $ | 10,295 |
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| $ | 7,601 |
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| $ | 10,272 |
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| $ | 8,944 |
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| $ | 6,935 |
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| $ | 4,517 |
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| $ | 3,362 |
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Borrowed funds interest expense |
| 3,750 |
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| 2,749 |
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| 3,665 |
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| 2,763 |
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| 1 |
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| 6 |
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| 6 |
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Total fixed charges | $ | 14,045 |
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| $ | 10,350 |
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| $ | 13,938 |
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| $ | 11,708 |
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| $ | 6,936 |
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| $ | 4,522 |
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| $ | 3,367 |
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Ratio of earnings to fixed charges |
| 3.32 |
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| 4.33 |
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| 4.36 |
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| 3.78 |
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| 4.17 |
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| 4.88 |
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| 4.66 |
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Excluding Interest on Deposits: |
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Earnings: |
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Net income | $ | 26,614 |
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| $ | 20,640 |
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| $ | 25,528 |
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| $ | 19,079 |
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| $ | 12,973 |
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| $ | 10,428 |
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| $ | 7,004 |
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Income tax expense |
| 5,913 |
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| 13,789 |
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| 21,269 |
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| 13,489 |
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| 8,996 |
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| 7,137 |
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| 5,310 |
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Fixed charges |
| 3,750 |
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| 2,749 |
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| 3,665 |
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| 2,763 |
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| 1 |
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| 6 |
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| 6 |
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Total earnings before income taxes and fixed charges | $ | 36,277 |
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| $ | 37,178 |
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| $ | 50,462 |
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| $ | 35,331 |
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| $ | 21,970 |
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| $ | 17,571 |
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| $ | 12,320 |
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Fixed charges: |
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Interest expense (excluding deposits) | $ | 3,750 |
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| $ | 2,749 |
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| $ | 3,665 |
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| $ | 2,763 |
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| $ | 1 |
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| $ | 6 |
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| $ | 6 |
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Total fixed charges | $ | 3,750 |
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| $ | 2,749 |
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| $ | 3,665 |
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| $ | 2,763 |
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| $ | 1 |
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| $ | 6 |
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| $ | 6 |
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Ratio of earnings to fixed charges |
| 9.67 |
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| 13.52 |
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| 13.77 |
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| 12.79 |
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| 18,810.08 |
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| 3,129.23 |
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| 2,166.29 |
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