EX-12.1 2 connect3375901_ex121.htm STATEMENT OF RATIOS OF EARNINGS TO FIXED CHARGES

Exhibit 12.1

Statement of Ratios of Earnings to Fixed Charges

		Year ended December 31,
		2017				2016				2015				2014				2013
		(Dollars in Thousands)
Earnings:
1. Income after income taxes		$	43,220			$	31,082			$	41,311			$	18,565			$	19,925
2. Plus: interest expense			36,255				31,096				23,814				14,808				11,082
3. Earnings including interest on deposits			79,475				62,178				65,125				33,373				31,007
4. Less: interest on deposits			23,669				18,667				13,756				8,260				5,219
5. Earnings excluding interest on deposits		$	55,806			$	43,511			$	51,369			$	25,113			$	25,788
Fixed Charges:
6. Interest expense (Line 2)		$	36,255			$	31,096			$	23,814			$	14,808			$	11,082
7. Less: interest expense on deposits (Line 4)			23,669				18,667				13,756				8,260				5,219
8. Excluding interest on deposits		$	12,586			$	12,429			$	10,058			$	6,548			$	5,863
Ratio of Earnings to Fixed Charges:
Including interest on deposits (line 3 divided by Line 6)			2.19				2.00				2.73				2.25				2.80
Excluding interest on deposits (line 5 divided by Line 8)			4.43				3.50				5.11				3.84				4.40