EX-12.1 2 osbc-20161231ex121042c66.htm EX-12.1 osbc_Ex12.1

Exhibit 12.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Computation of Ratio of Earnings to Fixed Charges and

Ratio of Earnings to Fixed Charges and Preferred Stock Dividends

(In thousands, except ratios)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

Earnings

 

2016

 

 

2015

 

 

2014

 

 

2013

 

 

2012

Income (loss) before income taxes

$
24,504

 

$
24,361

 

$
15,897

 

$
11,843

 

$
(72)

Plus:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges 

 
9,938

 

 
12,198

 

 
16,447

 

 
14,638

 

 
22,370

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred stock dividends1 

 

 -

 

 
3,122

 

 
5,463

 

 
852

 

 
6,635

Total earnings

$
34,442

 

$
33,437

 

$
26,881

 

$
25,629

 

$
15,663

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total interest expense2 

$
9,938

 

$
9,076

 

$
10,984

 

$
13,786

 

$
15,735

Interest included in operating lease rental expense

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Preferred stock dividends1  

 

 -

 

 
3,122

 

 
5,463

 

 
852

 

 
6,635

Total fixed charges

$
9,938

 

$
12,198

 

$
16,447

 

$
14,638

 

$
22,370

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges and preferred stock dividends

 
3.47

 

 
2.74

 

 
1.63

 

 
1.75

 

 
0.70

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 
3.47

 

 
3.68

 

 
2.45

 

 
1.86

 

 
1.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes 

$
24,504

 

$
24,361

 

$
15,897

 

$
11,843

 

$
(72)

Plus:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges excluding interest on deposits 

 
5,509

 

 
8,263

 

 
11,209

 

 
7,005

 

 
12,499

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred stock dividends1  

 

 -

 

 
3,122

 

 
5,463

 

 
852

 

 
6,635

Total earnings

$
30,013

 

$
29,502

 

$
21,643

 

$
17,996

 

$
5,792

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total interest expense2 

$
9,938

 

$
9,076

 

$
10,984

 

$
13,786

 

$
15,735

Interest included in operating lease rental expense 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Preferred stock dividends1  

 

 -

 

 
3,122

 

 
5,463

 

 
852

 

 
6,635

Less: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense on deposits

 
4,429

 

 
3,935

 

 
5,238

 

 
7,633

 

 
9,871

Total fixed charges excluding interest on deposits

$
5,509

 

$
8,263

 

$
11,209

 

$
7,005

 

$
12,499

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges and preferred stock dividends

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(excluding interest on deposits)

 
5.45

 

 
3.57

 

 
1.93

 

 
2.57

 

 
0.46

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings (loss) to fixed charges (excluding interest on deposits)

 
5.45

 

 
5.74

 

 
3.77

 

 
2.92

 

 
0.99

 

1 The preferred stock dividends amount has been grossed up to compute the pre-tax income equivalent assuming and estimated 40% tax rate.

2 Interest expense includes interest expense on deposits and other debt and amortization of debt issuance costs.