RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDEND REQUIREMENT
For Year Ended December 31, | ||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
(Dollars In Thousands) | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||
1. Income before income taxes | $ | 70,322 | $ | 61,858 | $ | 62,066 | $ | 57,282 | $ | 41,903 | ||||||||||
2. Plus interest expense | 27,905 | 22,119 | 15,997 | 15,801 | 19,203 | |||||||||||||||
3. Earnings including interest on deposits | 98,227 | 83,977 | 78,063 | 73,083 | 61,106 | |||||||||||||||
4. Less interest on deposits | 20,595 | 17,387 | 13,511 | 11,225 | 12,346 | |||||||||||||||
5. Earnings excluding interest on deposits | $ | 77,632 | $ | 66,590 | $ | 64,552 | $ | 61,858 | $ | 48,760 | ||||||||||
Fixed charges and preferred stock dividend requirements (pre-tax): | ||||||||||||||||||||
6. Including interest on deposits and capitalized interest | $ | 27,905 | $ | 22,119 | $ | 16,736 | $ | 16,563 | $ | 19,922 | ||||||||||
7. Less interest on deposits (Line 4) | 20,595 | 17,387 | 13,511 | 11,225 | 12,346 | |||||||||||||||
8. Excluding interest on deposits | $ | 7,310 | $ | 4,732 | $ | 3,225 | $ | 5,338 | $ | 7,576 | ||||||||||
Ratio of earnings to fixed charges and preferred stock dividend requirements (pre-tax): | ||||||||||||||||||||
Including interest on deposits (Line 3 divided by Line 6) | 3.52 | 3.80 | 4.66 | 4.41 | 3.07 | |||||||||||||||
Excluding interest on deposits (Line 5 divided by Line 8) | 10.62 | 14.07 | 20.01 | 11.59 | 6.44 | |||||||||||||||