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EXHIBIT 12. STATEMENT RE: COMPUTATION OF RATIOS
BancWest Corporation and Subsidiaries
Computation of Consolidated Ratios of Earnings to Fixed Charges
THREE MONTHS ENDED MARCH 31,
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1999 1998
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(dollars in thousands)
Income before income taxes $ 70,395 $ 33,152
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Fixed charges:(1)
Interest expense 102,260 65,745
Rental expense 3,733 2,740
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105,993 68,485
Less interest on deposits 81,976 51,033
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Net fixed charges 24,017 17,452
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Earnings, excluding
interest on deposits $ 94,412 $ 50,604
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Earnings, including
interest on deposits $ 176,388 $ 101,637
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Ratio of earnings to fixed charges:
Excluding interest on deposits 3.93X 2.90x
Including interest on deposits 1.66X 1.48x
(1) For purposes of computing the consolidated ratios of earnings to fixed
charges, 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, consist of the
foregoing items plus interest on deposits.