First Hawaiian (FHB) 10-Q 2002 Q3 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				Nine Months Ended
		September 30,				September 30,
		2002		2001		2002		2001
				(dollars in thousands)
Income before income taxes		$	161,710	$	107,928	$	428,310	$	318,130
Fixed charges(1):
	Interest expense		123,814		119,929		354,414		404,279
	Rental expense		5,775		3,830		16,245		11,481
			129,589		123,759		370,659		415,760
Less interest on deposits			76,477		92,405		218,884		318,687
	Net fixed charges		53,112		31,354		151,775		97,073
	Earnings, excluding interest on deposits	$	214,822	$	139,282	$	580,085	$	415,203
	Earnings, including interest on deposits	$	291,299	$	231,687	$	798,969	$	733,890
Ratio of earnings to fixed charges:
	Excluding interest on deposits		4.04x		4.44x		3.82x		4.28x
	Including interest on deposits		2.25x		1.87x		2.16x		1.77x

(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.

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