EX-12 2 f08986exv12.htm EXHIBIT 12 exv12
 

Exhibit 12 Statement re: Computation of Ratios

BancWest Corporation and Subsidiaries
Computation of Consolidated Ratios of Earnings to Fixed Charges

                 
    Three Months Ended March 31,  
    2005     2004  
(Dollars in thousands)                
Income before income taxes
     $214,027       $184,717  
 
                
Fixed charges (1):
                
Interest expense
     163,805       96,126  
Rental expense
     4,520       4,069  
 
                
 
     168,325       100,195  
Less interest on deposits
     80,941       43,436  
 
                
Net fixed charges
     87,384       56,759  
 
                
Earnings, excluding interest on deposits
     $301,411       $241,476  
 
                
Earnings, including interest on deposits
     $382,352       $284,912  
 
                
Ratio of earnings to fixed charges:
                
Excluding interest on deposits
     3.45x       4.25x  
Including interest on deposits
     2.27x       2.84x  

(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.