Exhibit 12
RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDEND REQUIREMENT
For Year Ended December 31, | ||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
(Dollars In Thousands) | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||
1. Income (loss) before income taxes | $ | 57,282 | $ | 41,903 | $ | 65,773 | $ | 37,732 | $ | 33,838 | ||||||||||
2. Plus interest expense | 15,801 | 19,203 | 28,377 | 35,146 | 47,850 | |||||||||||||||
3. Earnings including interest on deposits | 73,083 | 61,106 | 94,150 | 72,878 | 81,688 | |||||||||||||||
4. Less interest on deposits | 11,225 | 12,346 | 20,720 | 26,370 | 38,427 | |||||||||||||||
5. Earnings excluding interest on deposits | $ | 61,858 | $ | 48,760 | $ | 73,430 | $ | 46,508 | $ | 43,261 | ||||||||||
Fixed charges and preferred stock dividend requirements (pre-tax): | ||||||||||||||||||||
6. Including interest on deposits and capitalized interest | $ | 16,563 | $ | 19,922 | $ | 29,198 | $ | 40,145 | $ | 52,675 | ||||||||||
7. Less interest on deposits (Line 4) | 11,225 | 12,346 | 20,720 | 26,370 | 38,427 | |||||||||||||||
8. Excluding interest on deposits | $ | 5,338 | $ | 7,576 | $ | 8,478 | $ | 13,775 | $ | 14,248 | ||||||||||
Ratio of earnings to fixed charges and preferred stock dividend requirements (pre-tax): | ||||||||||||||||||||
Including interest on deposits (Line 3 divided by Line 6) | 4.41 | 3.07 | 3.22 | 1.82 | 1.55 | |||||||||||||||
Excluding interest on deposits (Line 5 divided by Line 8) | 11.59 | 6.44 | 8.66 | 3.38 | 3.04 | |||||||||||||||