EX-12 4 ex-12.htm STATEMENT OF RATIO OF EARNINGS TO FIXED CHARGES

Exhibit 12

RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDEND REQUIREMENT

   
For Year Ended
December 31,
  
   
2016
    
2015
    
2014
    
2013
    
2012
  
   
(Dollars In Thousands)
  
Earnings:
                              
1. Income (loss) before income taxes
  
$
61,858
    
$
62,066
    
$
57,282
    
$
41,903
    
$
65,773
  
2. Plus interest expense
    
22,119
      
15,997
      
15,801
      
19,203
      
28,377
  
                                         
3. Earnings including interest on deposits
    
83,977
      
78,063
      
73,083
      
61,106
      
94,150
  
4. Less interest on deposits
    
17,387
      
13,511
      
11,225
      
12,346
      
20,720
  
                                         
5. Earnings excluding interest on deposits
  
$
66,590
    
$
64,552
    
$
61,858
    
$
48,760
    
$
73,430
  
                                         
Fixed charges and preferred stock dividend requirements (pre-tax):
                                        
6. Including interest on deposits and
capitalized interest
  
$
22,119
    
$
16,736
    
$
16,563
    
$
19,922
    
$
29,198
  
7. Less interest on deposits (Line 4)
    
17,387
      
13,511
      
11,225
      
12,346
      
20,720
  
                                         
8. Excluding interest on deposits
  
$
4,732
    
$
3,225
    
$
5,338
    
$
7,576
    
$
8,478
  
                                         
Ratio of earnings to fixed charges and preferred stock dividend requirements (pre-tax):
                                        
Including interest on deposits
(Line 3 divided by Line 6)
    
3.80
      
4.66
      
4.41
      
3.07
      
3.22
  
Excluding interest on deposits
(Line 5 divided by Line 8)
    
14.07
      
20.01
      
11.59
      
6.44
      
8.66