First Hawaiian (FHB) 10-Q 2002 Q1 Quarterly report

Exhibit 12. Statement re: Computation of Ratios

BancWest Corporation and Subsidiaries
Computation of Consolidated Ratios of Earnings to Fixed Charges

		Three Months Ended
		March 31,
		2002		2001
		(dollars in thousands)
Income before income taxes		$	107,999	$	102,584
Fixed charges(1) :
	Interest expense		104,804		149,478
	Rental expense		4,718		3,715
			109,522		153,193
Less interest on deposits			63,629		120,421
	Net fixed charges		45,893		32,772
	Earnings, excluding interest on deposits	$	153,892	$	135,356
	Earnings, including interest on deposits	$	217,521	$	255,777
Ratio of earnings to fixed charges:
	Excluding interest on deposits		3.35x		4.13x
	Including interest on deposits		1.99x		1.67x

(1) For purposes of computing the consolidated ratios of earnings to fixed charges, earnings represent income before income taxes plus fixed charges. Fixed charges, excluding interest on deposits, include interest (other than on deposits), whether expensed or capitalized, and that portion of rental expense (generally one third) deemed representative of the interest factor. Fixed charges, including interest on deposits, consists of the foregoing items plus interest on deposits.