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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
QUARTER ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
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1996 1995 1996 1995
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(dollars in thousands)
Income before income taxes $ 32,331 $ 29,441 $ 61,591 $ 58,492
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Fixed charges:(1)
Interest expense 60,548 70,228 120,307 136,069
Rental expense 1,174 1,295 2,376 2,506
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61,722 71,523 122,683 138,575
Less interest on deposits 42,955 45,956 85,004 88,105
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Net fixed charges 18,767 25,567 37,679 50,470
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Earnings, excluding
interest on deposits $ 51,098 $ 55,008 $ 99,270 $ 108,962
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Earnings, including
interest on deposits $ 94,053 $ 100,964 $ 184,274 $ 197,067
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Ratio of earnings to
fixed charges:
Excluding interest on deposits 2.72X 2.15x 2.63X 2.16x
Including interest on deposits 1.52X 1.41x 1.50X 1.42x
(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.