EX-12 3 a90218exv12.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
      March 31,
     
      2003   2002
     
 
      (dollars in thousands)
Income before income taxes
   $ 166,723     $ 107,999  
 
    
     
 
Fixed charges(1):
                
 
Interest expense
     102,237       104,804  
 
Rental expense
     5,229       4,718  
 
    
     
 
 
     107,466       109,522  
Less interest on deposits
     53,147       63,629  
 
    
     
 
 
Net fixed charges
     54,319       45,893  
 
    
     
 
 
Earnings, excluding interest on deposits
   $ 221,042     $ 153,892  
 
    
     
 
 
Earnings, including interest on deposits
   $ 274,189     $ 217,521  
 
    
     
 
Ratio of earnings to
                
 
fixed charges:
                
 
Excluding interest on deposits
     4.07 x     3.35 x
 
Including interest on deposits
     2.55 x     1.99 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.