Attached files
| file | filename |
|---|---|
| EX-23.1 - EXHIBIT 23.1 - HERITAGE COMMERCE CORP | a2197218zex-23_1.htm |
| 10-K - 10-K - HERITAGE COMMERCE CORP | a2197218z10-k.htm |
| EX-31.1 - EXHIBIT 31.1 - HERITAGE COMMERCE CORP | a2197218zex-31_1.htm |
| EX-3.2 - EXHIBIT 3.2 - HERITAGE COMMERCE CORP | a2197218zex-3_2.htm |
| EX-32.2 - EXHIBIT 32.2 - HERITAGE COMMERCE CORP | a2197218zex-32_2.htm |
| EX-99.1 - EXHIBIT 99.1 - HERITAGE COMMERCE CORP | a2197218zex-99_1.htm |
| EX-32.1 - EXHIBIT 32.1 - HERITAGE COMMERCE CORP | a2197218zex-32_1.htm |
| EX-31.2 - EXHIBIT 31.2 - HERITAGE COMMERCE CORP | a2197218zex-31_2.htm |
| EX-99.2 - EXHIBIT 99.2 - HERITAGE COMMERCE CORP | a2197218zex-99_2.htm |
| EX-10.17 - EXHIBIT 10.17 - HERITAGE COMMERCE CORP | a2197218zex-10_17.htm |
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CALCULATION OF CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
| |
Year Ended December 31, | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| |
2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||
| |
(Dollars in thousands) |
|||||||||||||||
Earnings: |
||||||||||||||||
(Loss) income before income taxes |
$ | (24,694 | ) | $ | 375 | $ | 22,233 | $ | 26,507 | $ | 21,726 | |||||
Fixed Charges: |
||||||||||||||||
Interest on deposits |
13,462 | 20,035 | 24,211 | 19,588 | 12,849 | |||||||||||
Interest on subordinated debt, repurchase agreements, and other borrowings |
2,864 | 4,409 | 2,801 | 2,937 | 3,058 | |||||||||||
Rent expense interest factor |
853 | 905 | 881 | 792 | 801 | |||||||||||
Total fixed charges: |
||||||||||||||||
Including interest on deposits |
$ | 17,179 | $ | 25,349 | $ | 27,893 | $ | 23,317 | $ | 16,708 | ||||||
Excluding interest on deposits |
$ |
3,717 |
$ |
5,314 |
$ |
3,682 |
$ |
3,729 |
$ |
3,859 |
||||||
Ratio of earnings to fixed charges: |
||||||||||||||||
Excluding interest on deposits |
(5.64 | ) | 1.07 | 7.04 | 8.11 | 6.63 | ||||||||||
Including interest on deposits |
(0.44 | ) | 1.01 | 1.80 | 2.14 | 2.30 | ||||||||||
- (1)
- This amount is the portion of rent expense (generally one-third) deemed representative of the interest factor.
For purposes of calculating the ratios of earnings to fixed charges, earnings consist of income (loss) before income taxes and fixed charges. Fixed charges consist of interest on subordinated debt, repurchase agreements and other borrowings, and the proportion deemed representative of the interest factor within rent expense. These ratios are presented both including and excluding interest on deposits.
The earnings coverage deficiency for the year ended December 31, 2009 was $24,694,000, both excluding and including interest on deposits.
CALCULATION OF CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
| |
Year Ended December 31, | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| |
2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||
| |
(Dollars in thousands) |
|||||||||||||||
Earnings: |
||||||||||||||||
(Loss) income before income taxes |
$ | (24,694 | ) | $ | 375 | $ | 22,233 | $ | 26,507 | $ | 21,726 | |||||
Fixed Charges: |
||||||||||||||||
Interest on deposits |
13,462 | 20,035 | 24,211 | 19,588 | 12,849 | |||||||||||
Interest on subordinated debt, repurchase agreements, and other borrowings |
2,864 | 4,409 | 2,801 | 2,937 | 3,058 | |||||||||||
Preferred stock dividends |
2,028 | 222 | — | — | — | |||||||||||
Rent expense interest factor(1) |
853 | 905 | 881 | 792 | 801 | |||||||||||
Total fixed charges: |
||||||||||||||||
Including interest on deposits |
$ | 19,207 | $ | 25,571 | $ | 27,893 | $ | 23,317 | $ | 16,708 | ||||||
Excluding interest on deposits |
$ |
5,745 |
$ |
5,536 |
$ |
3,682 |
$ |
3,729 |
$ |
3,859 |
||||||
Ratio of earnings to fixed charges and preferred stock dividends: |
||||||||||||||||
Excluding interest on deposits |
-3.30 | 1.07 | 7.04 | 8.11 | 6.63 | |||||||||||
Including interest on deposits |
-0.29 | 1.01 | 1.80 | 2.14 | 2.30 | |||||||||||
- (1)
- This amount is the portion of rent expense (generally one-third) deemed representative of the interest factor.
For purposes of calculating the ratios of earnings to fixed charges and preferred stock dividends, earnings consist of income (loss) before income taxes and fixed charges. Fixed charges consist of interest on subordinated debt, repurchase agreements and other borrowings, the proportion deemed representative of the interest factor within rent expense, and preferred stock dividends. These ratios are presented both including and excluding interest on deposits.
The earnings coverage deficiency for the year ended December 31, 2009 was $24,694,000, both excluding and including interest on deposits.
CALCULATION OF CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
CALCULATION OF CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS