Lakeland Bancorp (LBAI) 10-K 2014 FY Annual report

Exhibit 12.1

STATEMENT OF RATIOS OF EARNINGS TO FIXED CHARGES

Ratio of earnings to fixed charges	Year ended December 31,
	2014		2013		2012		2011		2010
	(Dollars in thousands)
Earnings:
Income from continuing operations before taxes	$	46,288	$	37,419	$	31,838	$	28,563	$	29,336
Fixed charges excluding deposits and preferred stock dividends:		4,764		4,402		7,815		9,862		11,333
Subtotal		51,052		41,821		39,653		38,425		40,669
Interest on deposits		5,064		6,089		8,344		10,878		15,195
Total	$	56,116	$	47,910	$	47,997	$	49,303	$	55,864
Fixed charges:
Interest excluding deposits	$	3,873	$	3,568	$	7,102	$	9,233	$	10,700
Interest component on rentals*		891		834		713		629		633
Preferred stock dividends		—		—		620		2,167		3,987
Subtotal		4,764		4,402		8,435		12,029		15,320
Interest on deposits		5,064		6,089		8,344		10,878		15,195
Total	$	9,828	$	10,491	$	16,779	$	22,907	$	30,515
Ratio of earnings to fixed charges:
Excluding interest on deposits		10.72		9.50		4.70		3.19		2.65
Including interest on deposits		5.71		4.57		2.86		2.15		1.83

^*Interest component on rentals estimated to be one-third of rentals