Exhibit 12.1
CALCULATION OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES |
| Nine Months Ended September 30, 2016 |
| Years Ended December 31, | ||||
(Dollars in thousands) |
| 2015 | 2014 | 2013 | 2012 | 2011 | |
Fixed charges: |
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Interest on borrowings | 920 |
| 632 | 402 | 256 | 181 | 134 |
Fixed charges excluding interest on deposits | 920 |
| 632 | 402 | 256 | 181 | 134 |
Interest on deposits | 5,212 |
| 5,250 | 4,273 | 3,204 | 2,361 | 2,445 |
Fixed charges including interest on deposits | 6,132 |
| 5,882 | 4,675 | 3,460 | 2,542 | 2,579 |
Preferred stock dividends | — |
| — | — | — | — | — |
Fixed charges including preferred stock dividends | 6,132 |
| 5,882 | 4,675 | 3,460 | 2,542 | 2,579 |
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Earnings available for fixed charges excluding interest on deposits: |
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Pre-tax income | 8,790 |
| 10,584 | 6,542 | 4,316 | 3,340 | 1,501 |
Distributed equity income of affiliated companies | — |
| — | — | — | — | — |
Add: Fixed charges excluding interest on deposits | 920 |
| 632 | 402 | 256 | 181 | 134 |
Less: Capitalized interest | — |
| — | — | — | — | — |
Less: Net income – noncontrolling interests | — |
| — | — | — | — | — |
Total earnings available for fixed charges excluding interest on deposits | 9,710 |
| 11,216 | 6,944 | 4,572 | 3,521 | 1,635 |
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Ratio of earnings to fixed charges excluding interest on deposits | 10.55 |
| 17.75 | 17.27 | 17.86 | 19.45 | 12.20 |
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Earnings available for fixed charges including interest on deposits: |
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|
Pre-tax income | 8,790 |
| 10,584 | 6,542 | 4,316 | 3,340 | 1,501 |
Distributed equity income of affiliated companies | — |
| — | — | — | — | — |
Add: Fixed charges including interest on deposits | 6,132 |
| 5,882 | 4,675 | 3,460 | 2,542 | 2,579 |
Less: Capitalized interest | — |
| — | — | — | — | — |
Less: Net income – noncontrolling interests | — |
| — | — | — | — | — |
Total earnings available for fixed charges including interest on deposits | 14,922 |
| 16,466 | 11,217 | 7,776 | 5,882 | 4,080 |
Ratio of earnings to fixed charges including interest on deposits | 2.43 |
| 2.80 | 2.40 | 2.25 | 2.31 | 1.58 |
