EX-12.1 3 s002241x1_ex12-1.htm EXHIBIT 12.1
Exhibit 12.1
Ratio of Earnings to Fixed Charges

   
Years ended December 31,
  
   
2017
    
2016
    
2015
    
2014
    
2013
  
Earnings:
                              
Income before taxes
  
$
128,161
    
$
118,801
    
$
116,628
    
$
112,303
    
$
89,943
  
Fixed charges
    
25,914
      
22,506
      
20,616
      
23,203
      
30,644
  
Earnings, including interest on deposits
    
154,075
      
141,307
      
137,244
      
135,506
      
120,587
  
                                         
Less: interest on deposits
    
14,475
      
14,366
      
14,257
      
13,638
      
16,290
  
Earnings, excluding interest on deposits
  
$
139,600
    
$
126,941
    
$
122,987
    
$
121,868
    
$
104,297
  
                                         
Fixed charges:
                                        
Interest on deposits
  
$
14,475
    
$
14,366
    
$
14,257
    
$
13,638
    
$
16,290
  
Interest on borrowings
    
11,439
      
8,140
      
6,359
      
9,565
      
14,354
  
Fixed charges, including interest on deposits
    
25,914
      
22,506
      
20,616
      
23,203
      
30,644
  
                                         
Less: interest on deposits
    
14,475
      
14,366
      
14,257
      
13,638
      
16,290
  
Fixed charges, excluding interest on deposits
   $
11,439
     $
8,140
     $ 
6,359
     $ 
9,565
     $ 
14,354
  
                                         
Ratio of Earnings to Fixed Charges:
                                        
Excluding interest on deposits
    
12.20
      
15.59
      
19.34
      
12.74
      
7.27
  
Including interest on deposits
    
5.95
      
6.28
      
6.66
      
5.84
      
3.94
  

1