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EXHIBIT 12. STATEMENT RE: COMPUTATION OF RATIOS
BancWest Corporation and Subsidiaries
Computation of Consolidated Ratios of Earnings to Fixed Charges
QUARTER ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
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1999 1998 1999 1998
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Income before income taxes $ 65,076 $ 40,108 $213,981 $110,933
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Fixed charges (1):
Interest expense 112,794 72,977 330,382 217,631
Rental expense 3,869 3,198 11,274 9,562
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116,663 76,175 341,656 227,193
Less interest on deposits 93,677 59,359 271,057 174,800
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Net fixed charges 22,986 16,816 70,599 52,393
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Earnings, excluding
interest on deposits $ 88,062 $ 56,924 $284,580 $163,326
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Earnings, including
interest on deposits $181,739 $116,283 $555,637 $338,126
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Ratio of earnings to
fixed charges
Excluding interest on deposits 3.83X 3.39x 4.03X 3.12x
Including interest on deposits 1.56X 1.53x 1.63X 1.49x
(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, consists of the foregoing
items plus interest on deposits.