EX-12 3 d472969dex12.htm EX-12

EX-12

EXHIBIT 12

RATIOS OF EARNINGS TO FIXED CHARGES

AND PREFERRED STOCK DIVIDENDS

The consolidated ratios of fixed charges and preferred stock dividends to earnings for each of the five years indicated below are as follows:

		Year Ended December 31,
		2012				2011				2010				2009				2008
Earnings:
Income before income taxes		$	27,989			$	16,983			$	13,397			$	11,210			$	10,834
Plus interest expense			14,322				16,501				20,875				27,894				32,885
Earnings including interest on deposits			42,311				33,484				34,272				39,104				43,719
Less interest on deposits			6,206				8,346				10,711				14,792				19,536
Earnings excluding interest on deposits		$	36,105			$	25,138			$	23,561			$	24,312			$	24,183
Fixed charges and preferred stock dividend requirements (pre-tax):
Including interest on deposits and capitalized interest		$	14,322			$	16,501			$	22,677			$	29,614			$	32,939
Less interest on deposits			6,206				8,346				10,711				14,792				19,536
		$	8,116			$	8,155			$	11,966			$	14,822			$	13,403
Excluding interest on deposits
Ratio of earnings to fixed charges and preferred stock dividend requirements (pre-tax):
Including interest on deposits			2.95				2.03				1.51				1.32				1.33
Excluding interest on deposits			4.45				3.08				1.97				1.64				1.80