Exhibit 12.1
Ratio of Earnings to Fixed Charges
Years ended December 31, | ||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Income before taxes | $ | 128,161 | $ | 118,801 | $ | 116,628 | $ | 112,303 | $ | 89,943 | ||||||||||
Fixed charges | 25,914 | 22,506 | 20,616 | 23,203 | 30,644 | |||||||||||||||
Earnings, including interest on deposits | 154,075 | 141,307 | 137,244 | 135,506 | 120,587 | |||||||||||||||
Less: interest on deposits | 14,475 | 14,366 | 14,257 | 13,638 | 16,290 | |||||||||||||||
Earnings, excluding interest on deposits | $ | 139,600 | $ | 126,941 | $ | 122,987 | $ | 121,868 | $ | 104,297 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest on deposits | $ | 14,475 | $ | 14,366 | $ | 14,257 | $ | 13,638 | $ | 16,290 | ||||||||||
Interest on borrowings | 11,439 | 8,140 | 6,359 | 9,565 | 14,354 | |||||||||||||||
Fixed charges, including interest on deposits | 25,914 | 22,506 | 20,616 | 23,203 | 30,644 | |||||||||||||||
Less: interest on deposits | 14,475 | 14,366 | 14,257 | 13,638 | 16,290 | |||||||||||||||
Fixed charges, excluding interest on deposits | $ | 11,439 | $ | 8,140 | $ | 6,359 | $ | 9,565 | $ | 14,354 | ||||||||||
Ratio of Earnings to Fixed Charges: | ||||||||||||||||||||
Excluding interest on deposits | 12.20 | 15.59 | 19.34 | 12.74 | 7.27 | |||||||||||||||
Including interest on deposits | 5.95 | 6.28 | 6.66 | 5.84 | 3.94 |
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