Exhibit 12.1
Statement Regarding Computation of Ratios of Earnings to Fixed Charges and Preferred Stock Dividends
Year Ended December 31, | ||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||
EARNINGS | ||||||||||||||||||||
Pre-tax income from continuing operations | 105,246 | 56,744 | 56,205 | 29,303 | 21,720 | |||||||||||||||
Fixed charges | 21,256 | 15,879 | 15,436 | 10,756 | 15,653 | |||||||||||||||
Amortization of capitalized interest | — | — | — | — | — | |||||||||||||||
Capitalized interest | — | — | — | — | — | |||||||||||||||
Total earnings | 126,502 | 72,623 | 71,641 | 40,059 | 37,373 | |||||||||||||||
Less: Interest on deposits | 12,410 | 9,752 | 9,488 | 8,400 | 13,327 | |||||||||||||||
Total earnings exc. deposit int. | 114,092 | 62,871 | 62,153 | 31,659 | 24,046 | |||||||||||||||
FIXED CHARGES | ||||||||||||||||||||
Interest expensed | 19,694 | 14,856 | 14,680 | 10,137 | 15,074 | |||||||||||||||
Interest capitalized | — | — | — | — | — | |||||||||||||||
Interest included in rental expense | 1,562 | 1,023 | 756 | 619 | 579 | |||||||||||||||
Total fixed charges | 21,256 | 15,879 | 15,436 | 10,756 | 15,653 | |||||||||||||||
Less: Interest on deposits | 12,410 | 9,752 | 9,488 | 8,400 | 13,327 | |||||||||||||||
Total fixed charges exc. deposit int. | 8,846 | 6,127 | 5,948 | 2,356 | 2,326 | |||||||||||||||
FIXED CHARGES AND PREFERRED STOCK DIVIDENDS | ||||||||||||||||||||
Interest expensed | 19,694 | 14,856 | 14,680 | 10,137 | 15,074 | |||||||||||||||
Interest capitalized | — | — | — | — | — | |||||||||||||||
Interest included in rental expense | 1,562 | 1,023 | 756 | 619 | 579 | |||||||||||||||
Preferred stock dividends (pre-tax equivalent) | — | — | 286 | 1,738 | 3,577 | |||||||||||||||
Total fixed charges and preferred stock dividends | 21,256 | 15,879 | 15,722 | 12,494 | 19,230 | |||||||||||||||
Less: Interest on deposits | 12,410 | 9,752 | 9,488 | 8,400 | 13,327 | |||||||||||||||
Total fixed charges and preferred dividends exc. deposit int. | 8,846 | 6,127 | 6,234 | 4,094 | 5,903 | |||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||||
Including interest on deposits | 5.95 | 4.57 | 4.64 | 3.72 | 2.39 | |||||||||||||||
Excluding interest on deposits | 12.90 | 10.26 | 10.45 | 13.44 | 10.34 | |||||||||||||||
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS | ||||||||||||||||||||
Including interest on deposits | 5.95 | 4.57 | 4.56 | 3.21 | 1.94 | |||||||||||||||
Excluding interest on deposits | 12.90 | 10.26 | 9.97 | 7.73 | 4.07 |