EX-12 3 a2210511zex-12.htm EX-12

Exhibit 12

 

RATIO OF EARNINGS TO FIXED CHARGES

AND PREFERRED STOCK DIVIDEND REQUIREMENT

 

 

 

Six Months Ended
June 30,

 

Years Ended December 31,

 

(dollars in thousands)

 

2012

 

2011

 

2011

 

2010

 

2009

 

2008

 

2007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

24,425

 

$

16,949

 

$

38,289

 

$

25,755

 

$

16,384

 

$

11,551

 

11,970

 

Fixed charges, excluding preferred stock dividend requirement

 

7,659

 

9,892

 

20,077

 

19,832

 

24,809

 

23,676

 

23,729

 

Total earnings including fixed charges (a)

 

$

32,084

 

$

26,841

 

$

58,366

 

$

45,587

 

$

41,193

 

$

35,227

 

$

35,699

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on deposits

 

$

6,408

 

$

8,508

 

$

17,248

 

$

16,886

 

$

20,956

 

$

19,543

 

$

19,810

 

Interest on customer repurchase agreements and federal funds purchased

 

182

 

321

 

685

 

731

 

957

 

1,406

 

1,887

 

Interest on short-term borrowings

 

—

 

—

 

—

 

27

 

611

 

546

 

611

 

Interest on long-term borrowings deposits

 

1,069

 

1,063

 

2,144

 

2,188

 

2,285

 

2,181

 

1,421

 

Preferred stock dividend requirements (pre-tax)

 

448

 

1,872

 

2,356

 

2,009

 

3,628

 

275

 

—

 

Total fixed charges (b)

 

$

8,107

 

$

11,764

 

$

22,433

 

$

21,841

 

$

28,437

 

$

23,951

 

$

23,729

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges and preferred stock dividend requirement (pre-tax) (a/b)

 

3.96x

 

2.28x

 

2.60x

 

2.09x

 

1.45x

 

1.47x

 

1.50x

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings, excluding interest on deposits:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total earnings including fixed charges

 

$

32,084

 

$

26,841

 

$

58,366

 

$

45,587

 

$

41,193

 

$

35,227

 

$

35,699

 

Less interest on deposits

 

6,408

 

8,508

 

17,248

 

16,886

 

20,956

 

19,543

 

19,810

 

Total earnings excluding interest on deposits (c)

 

$

25,676

 

$

18,333

 

$

41,118

 

$

28,701

 

$

20,237

 

$

15,684

 

$

15,889

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges, excluding interest on deposits:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

8,107

 

$

11,764

 

$

22,433

 

$

21,841

 

$

28,437

 

$

23,951

 

$

23,729

 

Less interest on deposits

 

6,408

 

8,508

 

17,248

 

16,886

 

20,956

 

19,543

 

19,810

 

Total fixed charges, excluding interest on deposits (d)

 

$

1,699

 

$

3,256

 

$

5,185

 

$

4,955

 

$

7,481

 

$

4,408

 

$

3,919

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges and preferred stock dividend requirement (pre-tax), excluding interest on deposits (c/d)

 

15.11x

 

5.63x

 

7.93x

 

5.79x

 

2.71x

 

3.56x

 

4.05x