Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(in thousands)
Six Months | For the Years Ended December 31, | |||||||||||||||||||||||
Ended June 30, 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||
EXCLUDING INTEREST ON DEPOSITS: | ||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest Expense | $ | 753 | $ | 872 | $ | 645 | $ | 603 | $ | 618 | $ | 1,070 | ||||||||||||
Estimated interest included with rental expense | 16 | 38 | 30 | 34 | 37 | 41 | ||||||||||||||||||
Total fixed charges | $ | 769 | $ | 910 | $ | 675 | $ | 637 | $ | 655 | $ | 1,111 | ||||||||||||
Earnings: | ||||||||||||||||||||||||
Income from continuing operations before income tax | $ | 4,692 | $ | 14,049 | $ | 12,012 | $ | 9,050 | $ | 6,243 | $ | 5,126 | ||||||||||||
Fixed Charges | 769 | 910 | 675 | 637 | 655 | 1,111 | ||||||||||||||||||
Total Earnings | $ | 5,461 | $ | 14,959 | $ | 12,687 | $ | 9,687 | $ | 6,898 | $ | 6,237 | ||||||||||||
Ratio of Earnings to Fixed Charges (excluding deposit interest) | 7.1 | 16.4 | 18.8 | 15.2 | 10.5 | 5.6 | ||||||||||||||||||
INCLUDING INTEREST ON DEPOSITS: | ||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest Expense | $ | 3,214 | $ | 4,316 | $ | 3,207 | $ | 2,972 | $ | 2,918 | $ | 4,137 | ||||||||||||
Estimated interest included with rental expense | 16 | 38 | 30 | 34 | 37 | 41 | ||||||||||||||||||
Total fixed charges | $ | 3,230 | $ | 4,354 | $ | 3,237 | $ | 3,006 | $ | 2,955 | $ | 4,178 | ||||||||||||
Earnings: | ||||||||||||||||||||||||
Income from continuing operations before income tax | $ | 4,692 | $ | 14,049 | $ | 12,012 | $ | 9,050 | $ | 6,243 | $ | 5,126 | ||||||||||||
Fixed Charges | 3,230 | 4,354 | 3,237 | 3,006 | 2,955 | 4,178 | ||||||||||||||||||
Total Earnings | $ | 7,922 | $ | 18,403 | $ | 15,249 | $ | 12,056 | $ | 9,198 | $ | 9,304 | ||||||||||||
Ratio of Earnings to Fixed Charges (including deposit interest) | 2.5 | 4.2 | 4.7 | 4.0 | 3.1 | 2.2 |