EX-12.1 3 abcb12-31x2017exhibit121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS


The table below sets forth our consolidated ratios of earnings to fixed charges and preferred stock dividends for the periods presented.
 
 
Year Ended December 31,
(dollars in thousands)
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings
 
 
 
 
 
 
 
 
 
 
Pre-tax income from continuing operations
 
$
124,282

 
$
105,246

 
$
56,744

 
$
56,205

 
$
29,303

Fixed charges
 
35,936

 
21,256

 
15,879

 
15,436

 
10,756

Amortization of capitalized interest
 
—

 
—

 
—

 
—

 
—

Capitalized interest
 
—

 
—

 
—

 
—

 
—

Total earnings
 
160,218

 
126,502

 
72,623

 
71,641

 
40,059

Less: Interest on deposits
 
19,877

 
12,410

 
9,752

 
9,488

 
8,400

Total earnings excluding deposit interest
 
$
140,341

 
$
114,092

 
$
62,871

 
$
62,153

 
$
31,659

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
34,222

 
$
19,694

 
$
14,856

 
$
14,680

 
$
10,137

Interest capitalized
 
—

 
—

 
—

 
—

 
—

Interest included in rental expense
 
1,714

 
1,562

 
1,023

 
756

 
619

Total fixed charges
 
35,936

 
21,256

 
15,879

 
15,436

 
10,756

Less: Interest on deposits
 
19,877

 
12,410

 
9,752

 
9,488

 
8,400

Total fixed charges excluding deposit interest
 
$
16,059

 
$
8,846

 
$
6,127

 
$
5,948

 
$
2,356

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges and Preferred Stock Dividends
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
34,222

 
$
19,694

 
$
14,856

 
$
14,680

 
$
10,137

Interest capitalized
 
—

 
—

 
—

 
—

 
—

Interest included in rental expense
 
1,714

 
1,562

 
1,023

 
756

 
619

Preferred stock dividends (pre-tax equivalent)
 
—

 
—

 
—

 
286

 
1,738

Total fixed charges and preferred stock dividends
 
35,936

 
21,256

 
15,879

 
15,722

 
12,494

Less: Interest on deposits
 
19,877

 
12,410

 
9,752

 
9,488

 
8,400

Total fixed charges and preferred stock dividends excluding deposit interest
 
$
16,059

 
$
8,846

 
$
6,127

 
$
6,234

 
$
4,094

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
Including interest on deposits
 
4.46

 
5.95

 
4.57

 
4.64

 
3.72

Excluding interest on deposits
 
8.74

 
12.90

 
10.26

 
10.45

 
13.44

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
 
 
 
 
 
 
 
 
 
 
Including interest on deposits
 
4.46

 
5.95

 
4.57

 
4.56

 
3.21

Excluding interest on deposits
 
8.74

 
12.90

 
10.26

 
9.97

 
7.73