Exhibit 12.1
BANKUNITED, INC. AND SUBSIDIARIES
CALCULATION OF RATIO OF INCOME TO FIXED CHARGES
(In thousands, except for ratios)
Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||
Excluding Interest on Deposits: | ||||||||||||||||||
Fixed Charges | ||||||||||||||||||
Interest expense (other than interest on deposits) | 29,939 | 33,690 | 32,045 | 57,091 | 63,164 | 59,856 | ||||||||||||
Interest factor in rent expense (1) | 6,733 | 8,471 | 8,668 | 7,772 | 4,956 | 4,267 | ||||||||||||
Total fixed charges | 36,672 | 42,161 | 40,713 | 64,863 | 68,120 | 64,123 | ||||||||||||
Earnings | ||||||||||||||||||
Income before income taxes | 211,381 | 293,250 | 318,002 | 344,865 | 192,744 | 312,540 | ||||||||||||
Fixed charges | 36,672 | 42,161 | 40,713 | 64,863 | 68,120 | 64,123 | ||||||||||||
Total earnings | 248,053 | 335,411 | 358,715 | 409,728 | 260,864 | 376,663 | ||||||||||||
Ratio of earnings to fixed charges excluding interest on deposits | 6.76 | 7.96 | 8.81 | 6.32 | 3.83 | 5.87 | ||||||||||||
Including Interest on Deposits: | ||||||||||||||||||
Fixed Charges | ||||||||||||||||||
Total interest expense | 95,757 | 106,651 | 92,611 | 123,269 | 138,937 | 168,200 | ||||||||||||
Interest factor in rent expense (1) | 6,733 | 8,471 | 8,668 | 7,772 | 4,956 | 4,267 | ||||||||||||
Total fixed charges | 102,490 | 115,122 | 101,279 | 131,041 | 143,893 | 172,467 | ||||||||||||
Earnings | ||||||||||||||||||
Income before income taxes | 211,381 | 293,250 | 318,002 | 344,865 | 192,744 | 312,540 | ||||||||||||
Fixed charges | 102,490 | 115,122 | 101,279 | 131,041 | 143,893 | 172,467 | ||||||||||||
Total earnings | 313,871 | 408,372 | 419,281 | 475,906 | 336,637 | 485,007 | ||||||||||||
Ratio of earnings to fixed charges including interest on deposits | 3.06 | 3.55 | 4.14 | 3.63 | 2.34 | 2.81 |
(1) Consists of one third of total rent expense which management believes approximates the interest factor in rent expense.