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EXHIBIT 12. STATEMENT RE: COMPUTATION OF RATIOS
First Hawaiian, Inc. and Subsidiaries
Computation of Consolidated Ratios of Earnings to Fixed Charges
THREE MONTHS ENDED MARCH 31,
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1996 1995
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(dollars in thousands)
Income before income taxes $ 29,260 $ 29,051
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Fixed charges:(1)
Interest expense 59,759 65,841
Rental expense 1,202 1,211
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60,961 67,052
Less interest on deposits 42,049 42,149
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Net fixed charges 18,912 24,903
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Earnings, excluding
interest on deposits $ 48,172 $ 53,954
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Earnings, including
interest on deposits $ 90,221 $ 96,103
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Ratio of earnings to
fixed charges:
Excluding interest on deposits 2.55 X 2.17 x
Including interest on deposits 1.48 X 1.43 x
(1) For purposes of computing the above ratios, earnings represent income
before income taxes plus fixed charges. Fixed charges, excluding
interest on deposits, include interest (other than on deposits), whether
expensed or capitalized, and that portion of rental expense (generally
one third) deemed representative of the interest factor. Fixed charges,
including interest on deposits, include all interest, whether expensed
or capitalized, and that portion of rental expense (generally one third)
deemed representative of the interest factor.