EX-12 3 a2218893zex-12.htm EX-12
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Exhibit 12


RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDEND REQUIREMENT

 
   Year Ended December 31,  
(dollars in thousands)
   2013   2012   2011   2010   2009  

Earnings:

                                

Income before income taxes

   $ 75,325   $ 56,172   $ 38,289   $ 25,755   $ 16,384  

Fixed charges, excluding preferred stock dividend requirement

     12,504     14,414     20,077     19,832     24,809  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total earnings including fixed charges(a)

   $ 87,829   $ 70,586   $ 58,366   $ 45,587   $ 41,193  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Fixed charges:

                                

Interest on deposits

   $ 10,614   $ 12,057   $ 17,248   $ 16,886   $ 20,956  

Interest on customer repurchase agreements and federal funds purchased

     254     325     685     731     957  

Interest on short-term borrowings

     —     3     —     27     611  

Interest on long-term borrowings deposits

     1,636     2,029     2,144     2,188     2,285  

Preferred stock dividend requirements (pre-tax)

     907     901     2,356     2,009     3,628  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total fixed charges(b)

   $ 13,411   $ 15,315   $ 22,433   $ 21,841   $ 28,437  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

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

     6.55     4.61     2.60     2.09     1.45  

Earnings, excluding interest on deposits:

                                

Total earnings including fixed charges          

   $ 87,829   $ 70,586   $ 58,366   $ 45,587   $ 41,193  

Less interest on deposits

     10,614     12,057     17,248     16,886     20,956  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total earnings excluding interest on deposits(c)

   $ 77,215   $ 58,529   $ 41,118   $ 28,701   $ 20,237  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Fixed charges, excluding interest on deposits:

                                

Total fixed charges

   $ 13,411   $ 15,315   $ 22,433   $ 21,841   $ 28,437  

Less interest on deposits

     10,614     12,057     17,248     16,886     20,956  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total fixed charges, excluding interest on deposits(d)

   $ 2,797   $ 3,258   $ 5,185   $ 4,955   $ 7,481  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

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

     27.61     17.96     7.93     5.79     2.71  



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RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDEND REQUIREMENT