EX-12 7 colb2017ex12.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Exhibit


EXHIBIT 12

Ratios of Earnings to Fixed Charges and Earnings to Combined Fixed Charges and Preferred Stock Dividends

 
 
For the Years Ended December 31,
 
 
2017
 
2016
 
2015
 
2014
 
2013
 
 
(dollars in thousands)
Income before tax
 
$
177,983

 
$
149,781

 
$
141,620

 
$
117,785

 
$
87,010

Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest expense on borrowings
 
1,957

 
1,216

 
1,027

 
989

 
1,878

Estimate of interest within rental expense (1/3 of rental expense)
 
2,617

 
2,887

 
2,453

 
2,780

 
2,839

Subtotal for fixed charges
 
$
4,574

 
$
4,103

 
$
3,480

 
$
3,769

 
$
4,717

Preferred dividend requirement on a pre-tax basis
 
—

 
242

 
211

 
148

 
49

Fixed charges and preferred dividends, excluding interest on deposits
 
$
4,574

 
$
4,345

 
$
3,691

 
$
3,917

 
$
4,766

Interest expense on deposits
 
$
4,800

 
$
3,134

 
$
2,977

 
$
3,005

 
$
3,962

Fixed charges and preferred dividends, including interest on deposits
 
$
9,374

 
$
7,479

 
$
6,668

 
$
6,922

 
$
8,728

 
 
 
 
 
 
 
 
 
 
 
Total earnings and fixed charges, excluding interest on deposits
 
$
182,557

 
$
153,884

 
$
145,100

 
$
121,554

 
$
91,727

Total earnings, fixed charges and preferred dividends, excluding interest on deposits
 
$
182,557

 
$
154,126

 
$
145,311

 
$
121,702

 
$
91,776

Total earnings and fixed charges, including interest on deposits
 
$
187,357

 
$
157,018

 
$
148,077

 
$
124,559

 
$
95,689

Total earnings, fixed charges and preferred dividends, including interest on deposits
 
$
187,357

 
$
157,260

 
$
148,288

 
$
124,707

 
$
95,738

Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
Including interest on deposits
 
19.99%
 
21.70%
 
22.93%
 
18.39%
 
11.03%
Excluding interest on deposits
 
39.91%
 
37.51%
 
41.70%
 
32.25%
 
19.45%
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
 
 
 
 
 
 
 
 
 
 
Including interest on deposits
 
19.99%
 
21.03%
 
22.24%
 
18.02%
 
10.97%
Excluding interest on deposits
 
39.91%
 
35.47%
 
39.37%
 
31.07%
 
19.26%