Exhibit 12.1
For the Fiscal Years Ended | ||||||||||||||||||||
December 31, 2016 |
December 31, 2015 |
December 31, 2014 |
December 31, 2013 |
December 31, 2012 |
||||||||||||||||
Including interest on deposits |
||||||||||||||||||||
Pre-tax earnings |
89,388 | 92,005 | 72,584 | 62,516 | 43,339 | |||||||||||||||
Interest expense |
18,274 | 16,109 | 14,033 | 13,507 | 18,745 | |||||||||||||||
Amortization of debt issuance cost |
| | | | | |||||||||||||||
Rent expense |
2,178 | 2,503 | 1,980 | 1,767 | 1,746 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Earnings |
$ | 109,840 | $ | 110,617 | $ | 88,597 | $ | 77,790 | $ | 63,830 | ||||||||||
Ratio of earnings to fixed charges(a) |
5.37 | 5.94 | 5.53 | 5.09 | 3.12 | |||||||||||||||
Excluding interest on deposits |
||||||||||||||||||||
Pre-tax earnings |
89,388 | 92,005 | 72,584 | 62,516 | 43,339 | |||||||||||||||
Interest expense |
| | | | | |||||||||||||||
Amortization of debt issuance cost |
| | | | | |||||||||||||||
Rent expense |
2,178 | 2,503 | 1,980 | 1,767 | 1,746 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Earnings |
$ | 91,566 | $ | 94,508 | $ | 74,564 | $ | 64,283 | $ | 45,085 | ||||||||||
Ratio of earnings to fixed charges(a) |
42.04 | 37.76 | 37.66 | 36.37 | 25.83 |
(a) | The ratio of earnings to fixed charges was computed by dividing earnings by fixed charges. For this purpose, earnings consists of pre-tax income plus fixed charges, and fixed charges consists of interest expenses, including amortization of debt issuance costs, and the portion of rent expense which we believe is representative of the interest component of rental expense. |