Exhibit 12.1
ServisFirst Bancshares, Inc.
Ratio of Combined Fixed Charges and Preference Dividends to Earnings
(in thousands)
| March 31, | Years ended December 31, | |||||||||||||||||||||||
| 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||||||
| Fixed charges: | ||||||||||||||||||||||||
| Interest expense—deposits | $ | 9,621 | $ | 28,831 | $ | 20,169 | $ | 14,894 | $ | 12,420 | $ | 11,830 | ||||||||||||
| Interest expense—borrowed funds | 1,952 | 6,502 | 5,636 | 2,810 | 1,699 | 1,789 | ||||||||||||||||||
| Estimated interest within rental expense | 220 | 1,276 | 1,128 | 876 | 802 | 746 | ||||||||||||||||||
| Preferred stock dividends (pretax funds to pay) | - | 91 | 64 | 392 | 565 | 596 | ||||||||||||||||||
| Total fixed charges, excluding interest on deposits | $ | 2,172 | $ | 7,869 | $ | 6,828 | $ | 4,078 | $ | 3,066 | $ | 3,131 | ||||||||||||
| Total fixed charges, including interest on deposits | $ | 11,793 | $ | 36,700 | $ | 26,997 | $ | 18,972 | $ | 15,486 | $ | 14,961 | ||||||||||||
| Earnings: | ||||||||||||||||||||||||
| Pretax earnings | $ | 39,654 | $ | 137,350 | $ | 110,818 | $ | 89,005 | $ | 73,978 | $ | 61,975 | ||||||||||||
| Fixed charges above | 11,793 | 36,700 | 26,997 | 18,972 | 15,486 | 14,961 | ||||||||||||||||||
| Less: Preferred stock dividends (pretax funds to pay) | - | 91 | 64 | 392 | 565 | 596 | ||||||||||||||||||
| Less: noncontrolling interest in pre-tax income of subsidiaries | - | 62 | 47 | 47 | 31 | 16 | ||||||||||||||||||
| Total earnings | $ | 51,447 | $ | 173,897 | $ | 137,704 | $ | 107,538 | $ | 88,868 | $ | 76,324 | ||||||||||||
| Ratio of earnings to fixed charges (excludes preferred dividends): | ||||||||||||||||||||||||
| Excluding interest on deposits | 23.69 | x | 22.36 | x | 20.36 | x | 29.18 | x | 35.53 | x | 30.10 | x | ||||||||||||
| Including interest on deposits | 4.36 | x | 4.75 | x | 5.11 | x | 5.79 | x | 5.96 | x | 5.31 | x | ||||||||||||
| Ratio of earnings to combined fixed charges and preferred dividends: | ||||||||||||||||||||||||
| Excluding interest on deposits | 23.69 | x | 22.10 | x | 20.17 | x | 26.37 | x | 28.98 | x | 24.38 | x | ||||||||||||
| Including interest on deposits | 4.36 | x | 4.74 | x | 5.10 | x | 5.67 | x | 5.74 | x | 5.10 | x | ||||||||||||