EX-12 2 f03172exv12.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 September 30,
   Nine Months Ended September 30,
    2004
   2003
   2004
   2003
    (Dollars in thousands)
Income before income taxes
   $ 190,367     $ 183,880     $ 563,242     $ 523,853  
 
    
 		      
 		      
 		      
 		  
Fixed charges(1):
                                
Interest expense
     111,127       92,908       304,860       293,184  
Rental expense
     4,269       3,973       12,437       14,424  
 
    
 		      
 		      
 		      
 		  
 
     115,396       96,881       317,297       307,608  
Less interest on deposits
     51,189       39,835       138,214       140,706  
 
    
 		      
 		      
 		      
 		  
Net fixed charges
     64,207       57,046       179,083       166,902  
 
    
 		      
 		      
 		      
 		  
Earnings, excluding interest on deposits
   $ 254,574     $ 240,926     $ 742,325     $ 690,755  
 
    
 		      
 		      
 		      
 		  
Earnings, including interest on deposits
   $ 305,763     $ 280,761     $ 880,539     $ 831,461  
 
    
 		      
 		      
 		      
 		  
Ratio of earnings to fixed charges:
                                
Excluding interest on deposits
     3.96x       4.22x       4.15x       4.14x  
Including interest on deposits
     2.65x       2.90x       2.78x       2.70x  

(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.         .