EX-12 2 colb2016ex12.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
EXHIBIT 12
Ratios of Earnings to Fixed Charges and Earnings to Combined Fixed Charges and Preferred Stock Dividends

|  | For the Years Ended December 31,
|  | 2016 |  | 2015 |  | 2014 |  | 2013 |  | 2012
|  | (dollars in thousands)
Income before tax |  | $ | 149,781 |  |  | $ | 141,620 |  |  | $ | 117,785 |  |  | $ | 87,010 |  |  | $ | 63,705 |
Fixed charges: |  |  |  |  |  |  |  |  |  |
Interest expense on borrowings |  | 1,216 |  |  | 1,027 |  |  | 989 |  |  | 1,878 |  |  | 3,690 |
Estimate of interest within rental expense (1/3 of rental expense) |  | 2,887 |  |  | 2,453 |  |  | 2,780 |  |  | 2,839 |  |  | 1,515 |
Subtotal for fixed charges |  | $ | 4,103 |  |  | $ | 3,480 |  |  | $ | 3,769 |  |  | $ | 4,717 |  |  | $ | 5,205 |
Preferred dividend requirement on a pre-tax basis |  | 242 |  |  | 211 |  |  | 148 |  |  | 49 |  |  | — |
Fixed charges and preferred dividends, excluding interest on deposits |  | $ | 4,345 |  |  | $ | 3,691 |  |  | $ | 3,917 |  |  | $ | 4,766 |  |  | $ | 5,205 |
Interest expense on deposits |  | $ | 3,134 |  |  | $ | 2,977 |  |  | $ | 3,005 |  |  | $ | 3,962 |  |  | $ | 5,887 |
Fixed charges and preferred dividends, including interest on deposits |  | $ | 7,479 |  |  | $ | 6,668 |  |  | $ | 6,922 |  |  | $ | 8,728 |  |  | $ | 11,092 |
Total earnings and fixed charges, excluding interest on deposits |  | $ | 153,884 |  |  | $ | 145,100 |  |  | $ | 121,554 |  |  | $ | 91,727 |  |  | $ | 68,910 |
Total earnings, fixed charges and preferred dividends, excluding interest on deposits |  | $ | 154,126 |  |  | $ | 145,311 |  |  | $ | 121,702 |  |  | $ | 91,776 |  |  | $ | 68,910 |
Total earnings and fixed charges, including interest on deposits |  | $ | 157,018 |  |  | $ | 148,077 |  |  | $ | 124,559 |  |  | $ | 95,689 |  |  | $ | 74,797 |
Total earnings, fixed charges and preferred dividends, including interest on deposits |  | $ | 157,260 |  |  | $ | 148,288 |  |  | $ | 124,707 |  |  | $ | 95,738 |  |  | $ | 74,797 |
Ratio of Earnings to Fixed Charges |  |  |  |  |  |  |  |  |  |
Including interest on deposits |  | 21.70% |  | 22.93% |  | 18.39% |  | 11.03% |  | 6.74%
Excluding interest on deposits |  | 37.51% |  | 41.70% |  | 32.25% |  | 19.45% |  | 13.24%
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends |  |  |  |  |  |  |  |  |  |
Including interest on deposits |  | 21.03% |  | 22.24% |  | 18.02% |  | 10.97% |  | 6.74%
Excluding interest on deposits |  | 35.47% |  | 39.37% |  | 31.07% |  | 19.26% |  | 13.24%