EX-12 2 a2231088zex-12.htm EX-12
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Exhibit 12

RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDEND REQUIREMENT

 
   Years Ended December 31,  
(dollars in thousands)
   2016   2015   2014   2013   2012  

Earnings:

                                

Income before income taxes

   $ 159,102   $ 135,216   $ 86,216   $ 75,325   $ 56,172  

Fixed charges, excluding preferred stock dividend requirement          

     27,640     19,238     13,095     12,504     14,414  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total earnings including fixed charges(a)

   $ 186,742   $ 154,454   $ 99,311   $ 87,829   $ 70,586  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Fixed charges:

                                

Interest on deposits

   $ 19,248   $ 14,343   $ 9,638   $ 10,614   $ 12,057  

Interest on customer repurchase agreements and federal funds purchased

     167     132     143     254     325  

Interest on short-term borrowings

     732     86     31     —     3  

Interest on long-term borrowings deposits

     7,493     4,677     3,283     1,636     2,029  

Preferred stock dividend requirements (pre-tax)

     —     965     976     907     901  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total fixed charges(b)

   $ 27,640   $ 20,203   $ 14,071   $ 13,411   $ 15,315  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

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

     6.76     7.65     7.06     6.55     4.61  

Earnings, excluding interest on deposits:

    
 		    
 		    
 		    
 		    
 		  

Total earnings including fixed charges

   $ 186,742   $ 154,454   $ 99,311   $ 87,829   $ 70,586  

Less interest on deposits

     19,248     14,343     9,638     10,614     12,057  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total earnings excluding interest on deposits(c)

   $ 167,494   $ 140,111   $ 89,673   $ 77,215   $ 58,529  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Fixed charges, excluding interest on deposits:

                                

Total fixed charges

   $ 27,640   $ 20,203   $ 14,071   $ 13,411   $ 15,315  

Less interest on deposits

     19,248     14,343     9,638     10,614     12,057  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total fixed charges, excluding interest on deposits(d)

   $ 8,392   $ 5,860   $ 4,433   $ 2,797   $ 3,258  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

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

     19.96     23.91     20.23     27.61     17.96  



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RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDEND REQUIREMENT