Attached files
file | filename |
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10-K - FORM 10-K - WASHINGTON BANKING CO | v55197e10vk.htm |
EX-24 - EX-24 - WASHINGTON BANKING CO | v55197exv24.htm |
EX-21 - EX-21 - WASHINGTON BANKING CO | v55197exv21.htm |
EX-3.1 - EX-3.1 - WASHINGTON BANKING CO | v55197exv3w1.htm |
EX-99.2 - EX-99.2 - WASHINGTON BANKING CO | v55197exv99w2.htm |
EX-99.1 - EX-99.1 - WASHINGTON BANKING CO | v55197exv99w1.htm |
EX-31.2 - EX-31.2 - WASHINGTON BANKING CO | v55197exv31w2.htm |
EX-32.2 - EX-32.2 - WASHINGTON BANKING CO | v55197exv32w2.htm |
EX-23.1 - EX-23.1 - WASHINGTON BANKING CO | v55197exv23w1.htm |
EX-31.1 - EX-31.1 - WASHINGTON BANKING CO | v55197exv31w1.htm |
EX-32.1 - EX-32.1 - WASHINGTON BANKING CO | v55197exv32w1.htm |
Exhibit 12.1
Tweleve months ended December 31, | ||||||||||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||||||||
Excluding interest on deposits |
||||||||||||||||||||||||||||
Income before income taxes |
9,100 | 12,261 | 13,577 | 13,789 | 14,048 | 9,531 | 8,821 | |||||||||||||||||||||
Fixed charges |
||||||||||||||||||||||||||||
Interest on short-term borrowings & Long-term debt |
1,099 | 2,392 | 2,141 | 1,884 | 1,609 | 1,213 | 1,354 | |||||||||||||||||||||
one-third of net rental expense |
208 | 144 | 141 | 138 | 123 | 111 | 118 | |||||||||||||||||||||
Total fixed charges |
1,307 | 2,536 | 2,282 | 2,022 | 1,732 | 1,324 | 1,472 | |||||||||||||||||||||
Income from operations before income taxes and fixed charges |
10,407 | 14,797 | 15,859 | 15,811 | 15,780 | 10,855 | 10,293 | |||||||||||||||||||||
Fixed charges, as above |
1,307 | 2,536 | 2,282 | 2,022 | 1,732 | 1,324 | 1,472 | |||||||||||||||||||||
Preferred stock dividends (pretax) (1) |
1,600 | | | | | | | |||||||||||||||||||||
Fixed charges including preferred stock dividends |
2,907 | 2,536 | 2,282 | 2,022 | 1,732 | 1,324 | 1,472 | |||||||||||||||||||||
Ratio of earnings to fixed charges and preferred stock
dividend requirements |
3.58 | 5.84 | 6.95 | 7.82 | 9.11 | 8.20 | 6.99 | |||||||||||||||||||||
Including interest on deposits |
||||||||||||||||||||||||||||
Fixed charges including preferred stock dividends, as above |
2,907 | 2,536 | 2,282 | 2,022 | 1,732 | 1,324 | 1,472 | |||||||||||||||||||||
Add: Interest on deposits |
12,920 | 18,442 | 22,669 | 16,557 | 9,957 | 7,624 | 7,383 | |||||||||||||||||||||
Total fixed charges including preferred stock dividends and
interest on deposits |
15,827 | 20,978 | 24,951 | 18,579 | 11,689 | 8,948 | 8,855 | |||||||||||||||||||||
Income from operations before income taxes and fixed
charges, as above |
10,407 | 14,797 | 15,859 | 15,811 | 15,780 | 10,855 | 10,293 | |||||||||||||||||||||
Add: Interest on deposits |
12,920 | 18,442 | 22,669 | 16,557 | 9,957 | 7,624 | 7,383 | |||||||||||||||||||||
Total income from operations before income taxes, fixed
charges and interest on deposits |
23,327 | 33,239 | 38,528 | 32,368 | 25,737 | 18,479 | 17,676 | |||||||||||||||||||||
Ration of earnings to fixed charges and preferred stock
dividend requirements |
1.47 | 1.58 | 1.54 | 1.74 | 2.20 | 2.07 | 2.00 | |||||||||||||||||||||
(1) | The preferred dividends, including accretion, were increased to amounts representing the pretax earnings that would be required to cover such dividend and accretion requirements |