EX-12 2 f11688exv12.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 June 30,     Six Months Ended June 30,  
    2005     2004     2005     2004  
(Dollars in thousands)                                
 
                                
Income before income taxes
   $ 241,318     $ 188,158     $ 455,345     $ 372,875  
 
                        
Fixed charges (1):
                                
Interest expense
     198,238       97,607       362,043       193,733  
Rental expense
     4,476       4,098       8,996       8,167  
 
                        
 
     202,714       101,705       371,039       201,900  
Less interest on deposits
     103,315       43,589       184,256       87,025  
 
                        
Net fixed charges
     99,399       58,116       186,783       114,875  
 
                        
Earnings, excluding interest on deposits
   $ 340,717     $ 246,274     $ 642,128     $ 487,750  
 
                        
Earnings, including interest on deposits
   $ 444,032     $ 289,863     $ 826,384     $ 574,775  
 
                        
Ratio of earnings to fixed charges:
                                
Excluding interest on deposits
     3.43 x     4.24 x     3.44 x     4.25 x
Including interest on deposits
     2.19 x     2.85 x     2.23 x     2.85 x
 
(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.