Exhibit 12.1
STATEMENT OF RATIOS OF EARNINGS TO FIXED CHARGES
The consolidated ratios of earnings to fixed charges for each of the periods indicated are as follows:
| Nine Months Ended June 30, | For the Twelve Months Ended September 30, | |||||||||||||||||||||||
| (dollars in thousands) | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||
| Earnings: | ||||||||||||||||||||||||
| Income (Loss) before income taxes | $ | 5,802 | $ | 5,976 | $ | 3,698 | $ | 344 | $ | (12,793 | ) | $ | 2,587 | |||||||||||
| Plus: interest expense | 6,624 | 6,732 | 5,248 | 5,071 | 6,944 | 8,412 | ||||||||||||||||||
| Earnings including interest on deposits | $ | 12,426 | $ | 12,708 | $ | 8,946 | $ | 5,415 | $ | (5,849 | ) | $ | 10,999 | |||||||||||
| Less: interest on deposits | 4,393 | 4,537 | 3,431 | 3,969 | 5,279 | 6,692 | ||||||||||||||||||
| Earnings excluding interest on deposits | $ | 8,033 | $ | 8,171 | $ | 5,515 | $ | 1,446 | $ | (11,128 | ) | $ | 4,307 | |||||||||||
| Fixed charges (pre-tax) | ||||||||||||||||||||||||
| Fixed charges including interest on deposits | $ | 6,624 | $ | 6,732 | $ | 5,248 | $ | 5,071 | $ | 6,944 | $ | 8,412 | ||||||||||||
| Less: interest on deposits | 4,393 | 4,537 | 3,431 | 3,969 | 5,279 | 6,692 | ||||||||||||||||||
| Fixed charges excluding interest on deposits | $ | 2,231 | $ | 2,195 | $ | 1,817 | $ | 1,102 | $ | 1,665 | $ | 1,720 | ||||||||||||
| Ratio of Earnings to Fixed Charges: | ||||||||||||||||||||||||
| Excluding interest on deposits | 3.6 | 3.7 | 3.0 | 1.3 | -6.7 | 2.5 | ||||||||||||||||||
| Including interest on deposits | 1.9 | 1.9 | 1.7 | 1.1 | -0.8 | 1.3 | ||||||||||||||||||
