EX-12 3 a83613exv12.htm EXHIBIT 12 Exhibit 12
 

Exhibit 12.      Statement re: Computation of Ratios

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

                                   
      Three Months Ended   Six Months Ended
      June 30,   June 30,
     
 
      2002   2001   2002   2001
     
 
 
 
              (dollars in thousands)        
Income before income taxes
   $ 158,601     $ 107,618     $ 266,600     $ 210,202  
 
    
     
     
     
 
Fixed charges (1):
                                
 
Interest expense
     125,796       134,872       230,600       284,350  
 
Rental expense
     5,752       3,936       10,470       7,651  
 
    
     
     
     
 
 
     131,548       138,808       241,070       292,001  
Less interest on deposits
     78,778       105,861       142,407       226,282  
 
    
     
     
     
 
 
Net fixed charges
     52,770       32,947       98,663       65,719  
 
    
     
     
     
 
 
Earnings, excluding interest on deposits
   $ 211,371     $ 140,565     $ 365,263     $ 275,921  
 
    
     
     
     
 
 
Earnings, including interest on deposits
   $ 290,149     $ 246,426     $ 507,670     $ 502,203  
 
    
     
     
     
 
Ratio of earnings to fixed charges:
                                
 
Excluding interest on deposits
     4.01x       4.27x       3.70x       4.20x  
 
Including interest on deposits
     2.21x       1.78x       2.11x       1.72x  

(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.