Exhibit 12.1
ServisFirst Bancshares, Inc.
Ratio of Combined Fixed Charges and Preference Dividends to Earnings
(in thousands)
| Years ended December 31, | ||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
| Fixed charges: | ||||||||||||||||||||
| Interest expense—deposits | $ | 12,420 | $ | 11,830 | $ | 12,249 | $ | 13,047 | $ | 11,941 | ||||||||||
| Interest expense—borrowed funds | 1,699 | 1,789 | 2,652 | 3,033 | 3,319 | |||||||||||||||
| Estimated interest within rental expense | 802 | 746 | 659 | 618 | 520 | |||||||||||||||
| Preferred stock dividends (pretax funds to pay) | 565 | 596 | 599 | 306 | - | |||||||||||||||
| Total fixed charges, excluding interest on deposits | $ | 3,066 | $ | 3,131 | $ | 3,909 | $ | 3,957 | $ | 3,839 | ||||||||||
| Total fixed charges, including interest on deposits | $ | 15,486 | $ | 14,961 | $ | 16,158 | $ | 17,004 | $ | 15,780 | ||||||||||
| Earnings: | ||||||||||||||||||||
| Pretax earnings (loss) | $ | 73,978 | $ | 61,975 | $ | 51,565 | $ | 35,827 | $ | 26,736 | ||||||||||
| Fixed charges above | 15,486 | 14,961 | 16,158 | 17,004 | 15,780 | |||||||||||||||
| Less: Preferred stock dividends (pretax funds to pay) | 565 | 596 | 599 | 306 | - | |||||||||||||||
| Less: noncontrolling interest in pre-tax income of subsidiaries | 31 | 16 | - | - | - | |||||||||||||||
| Total earnings | $ | 88,868 | $ | 76,324 | $ | 67,125 | $ | 52,525 | $ | 42,516 | ||||||||||
| Ratio of earnings to fixed charges (excludes preferred dividends): | ||||||||||||||||||||
| Excluding interest on deposits | 35.53 | x | 30.10 | x | 20.28 | x | 14.39 | x | 11.07 | x | ||||||||||
| Including interest on deposits | 5.96 | x | 5.31 | x | 4.31 | x | 3.15 | x | 2.69 | x | ||||||||||
| Ratio of earnings to combined fixed charges and preferred dividends: | ||||||||||||||||||||
| Excluding interest on deposits | 28.98 | x | 24.38 | x | 17.17 | x | 13.27 | x | 11.07 | x | ||||||||||
| Including interest on deposits | 5.74 | x | 5.10 | x | 4.15 | x | 3.09 | x | 2.69 | x | ||||||||||