Please wait

Exhibit 12.1


Computation of Ratio of Earnings to Fixed Charges Table

Our historical ratios of earnings to fixed charges requirement for the periods indicated are set forth in the table below.  The ratio of earnings to fixed charges is computed by dividing earnings by fixed charges. For purposes of computing this ratio, earnings consist of income before income taxes plus fixed charges less noncontrolling interest. Fixed charges consist of interest expense on deposits and borrowings and the interest portion of our rental expense. We paid no preferred stock dividends during any period presented, and accordingly, the ratio of earnings to fixed charges and preferred stock dividends is the same as the ratio of earnings to fixed charges.
               
Nine Months Ended
December 31,
  
Year Ended March 31,
                                         
               
2016
  
2015
  
2016
  
2015
  
2014
  
2013
  
2012
                       
(Dollars in thousands)
Earnings
                                    
 
Income (loss) before Income Taxes
      
$    7,778
  
$   7,378
  
$    9,784
  
$   6,641
  
$   4,342
  
$   2,662
  
$(23,279)
 
Add: Fixed Charges
        
1,773
  
1,750
  
2,335
  
2,537
  
3,165
  
4,078
  
6,452
 
Less: Noncontrolling Interest
      
-
  
47
  
47
  
65
  
81
  
59
  
79
Total Earnings
          
$    9,551
  
$   9,081
  
$  12,072
  
$   9,113
  
$   7,426
  
$   6,681
  
 $(16,906)
                                         
Fixed Charges
                                    
 
Interest Expense on Deposits
      
$      837
  
$      893
  
$   1,173
  
$   1,326
  
$   1,973
  
$   2,667
  
$   4,357
 
Interest Expense on Borrowings
      
494
  
417
  
569
  
590
  
595
  
818
  
1,508
 
Estimated Interest Portion of Rental Expense  
     (one-third rental expense)
442
  
440
  
593
  
621
  
597
  
593
  
587
Total Fixed Charges
        
$   1,773
  
$   1,750
  
$   2,335
  
$   2,537
  
$   3,165
  
$   4,078
  
$   6,452
                                         
Ratio of Earnings to Fixed Charges (Including  
   Deposit Interest)
5.39x
  
5.19x
  
5.17x
  
3.59x
  
2.35x
  
1.64x
  
 *
Ratio of Earnings to Fixed Charges (Excluding
   Deposit Interest)
9.31x
  
9.55x
  
9.38x
  
6.43x
  
4.57x
  
2.84x
  
 *
                                         
*   Earnings for the year ended March 31, 2012 were inadequate to cover fixed charges by $23.4 million