EX-12.1 10 c80542_ex12-1.htm 3B2 EDGAR HTML -- c80542_ex12-1.htm

Exhibit 12.1

STATEMENT OF RATIOS OF EARNINGS TO FIXED CHARGES

 

 

 

 

 

 

 

 

 

 

 

 

  

Year ended December 31,
 

2014

  

2013

  

2012

  

2011

  

2010

 

  

(Dollars in Thousands)

Earnings:

 

 

 

 

 

 

 

 

 

 

1. Income before income taxes

 

 

$

 

27,410

  

 

 

$

 

27,409

  

 

 

$

 

25,184

  

 

 

$

 

21,337

  

 

 

$

 

7,226

  

2. Plus: interest expense

 

 

  

14,808

  

 

 

  

11,082

  

 

 

  

11,776

  

 

 

  

12,177

  

 

 

  

14,785

  

 

 

 

 

 

 

 

 

 

 

 

3. Earnings including interest on deposits

 

 

  

42,218

  

 

 

  

38,491

  

 

 

  

36,960

  

 

 

  

33,514

  

 

 

  

22,011

  

4. Less: interest on deposits

 

 

  

8,260

  

 

 

  

5,219

  

 

 

  

5,408

  

 

 

  

5,520

  

 

 

  

6,006

  

 

 

 

 

 

 

 

 

 

 

 

5. Earnings excluding interest on deposits

 

 

$

 

33,958

  

 

 

$

 

33,272

  

 

 

$

 

31,552

  

 

 

$

 

27,994

  

 

 

$

 

16,005

  

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

6. Interest expense (Line 2)

 

 

$

 

14,808

  

 

 

$

 

11,082

  

 

 

$

 

11,776

  

 

 

$

 

12,177

  

 

 

$

 

14,785

  

7. Less: interest expense on deposits (Line 4)

 

 

  

8,260

  

 

 

  

5,219

  

 

 

  

5,408

  

 

 

  

5,520

  

 

 

  

6,006

  

 

 

 

 

 

 

 

 

 

 

 

8. Excluding interest on deposits

 

 

$

 

6,548

  

 

 

$

 

5,863

  

 

 

$

 

6,368

  

 

 

$

 

6,657

  

 

 

$

 

8,779

  

Ratio of Earnings to Fixed Charges:

 

 

 

 

 

 

 

 

 

 

Including interest on deposits (line 3 divided by Line 6)

 

 

  

2.85

  

 

 

  

3.47

  

 

 

  

3.14

  

 

 

  

2.75

  

 

 

  

1.49

  

Excluding interest on deposits (line 5 divided by Line 8)

 

 

  

5.19

  

 

 

  

5.67

  

 

 

  

4.95

  

 

 

  

4.21

  

 

 

  

1.82