Exhibit 12.1
Statement of Ratios of Earnings to Fixed Charges
Nine months ended September 30, 2008 | Nine months ended September 30, 2007 | Years ended December 31, | ||||||||||||
2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||
Excluding interest on deposits | 2.15x | 0.81x | 1.04x | 1.77x | 2.56x | 2.40x | 2.57x | |||||||
Including interest on deposits | 1.47x | 0.92x | 1.02x | 1.33x | 1.71x | 1.79x | 1.84x |
Note: | The ratio of earnings to fixed charges is calculated by adding income before income taxes plus fixed charges and dividing that sum by fixed charges. |
Note: | The dollar amount of the deficiency for the September 30, 2007 ratios to reach 1.0 x is $3,616,000. |
Nine months ended September 30, 2008 | Nine months ended September 30, 2007 |
Years ended December 31, | ||||||||||||||||||||
(in thousands) | 2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||||||||
Income (loss) before income taxes | $ | 16,683 | $ | (3,616 | ) | $ | 935 | $ | 19,196 | $ | 29,832 | $ | 27,702 | $ | 30,847 | |||||||
Interest on deposits | $ | 20,827 | $ | 27,778 | $ | 36,586 | $ | 33,401 | $ | 22,807 | $ | 15,194 | $ | 17,243 | ||||||||
Interest on borrowings | 14,469 | 19,431 | 25,454 | 25,042 | 19,066 | 19,737 | 19,651 | |||||||||||||||
Total fixed charges, including Interest on deposits | $ | 35,296 | $ | 47,209 | $ | 62,040 | $ | 58,443 | $ | 41,873 | $ | 34,931 | $ | 36,894 | ||||||||
Total fixed, charges, excluding interest on deposits | $ | 14,469 | $ | 19,431 | $ | 25,454 | $ | 25,042 | $ | 19,066 | $ | 19,737 | $ | 19,651 | ||||||||