Exhibit 12.1
Nine | ||||||||||||||||||||||||
Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
Sept. 30, | Year Ended December 31, | |||||||||||||||||||||||
2008 | 2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||||||||||
Fixed Charges and Preferred Dividends: | ||||||||||||||||||||||||
Interest expense | $ | 72,195 | $ | 141,283 | $ | 113,873 | $ | 63,471 | $ | 34,869 | $ | 31,424 | ||||||||||||
Capitalized debt expense Trust Preferred | 4,837 | 8,257 | 5,439 | 1,858 | 1,096 | 905 | ||||||||||||||||||
Estimated interest in rent [(1/3 rent)] | 1,216 | 1,625 | 1,785 | 1,384 | 1,023 | 932 | ||||||||||||||||||
Preferred dividends (gross up) | 0 | 0 | 0 | 0 | 0 | 699 | ||||||||||||||||||
Combined fixed charges and preferred dividends (B) | 78,248 | 151,165 | 121,097 | 66,713 | 36,988 | 33,960 | ||||||||||||||||||
Less interest on deposits | 56,777 | 121,245 | 99,500 | 50,028 | 23,237 | 20,931 | ||||||||||||||||||
Combined fixed charges and preferred dividends excluding interest on deposits (D) | $ | 21,471 | $ | 29,920 | $ | 21,597 | $ | 16,685 | $ | 13,751 | $ | 13,029 | ||||||||||||
Earnings: | ||||||||||||||||||||||||
Pre-tax income from continuing operations | $ | 32,587 | $ | 47,773 | $ | 43,942 | $ | 40,787 | $ | 29,991 | $ | 11,642 | ||||||||||||
Fixed charges and preferred dividends | 78,248 | 151,165 | 121,097 | 66,713 | 36,988 | 33,960 | ||||||||||||||||||
Total earnings (A) | 110,835 | 198,938 | 165,039 | 107,500 | 66,979 | 45,602 | ||||||||||||||||||
Less interest on deposits | 56,777 | 121,245 | 99,500 | 50,028 | 23,237 | 20,931 | ||||||||||||||||||
Total earnings excluding interest on deposits (C) | $ | 54,058 | $ | 77,693 | $ | 65,539 | $ | 57,472 | $ | 43,742 | $ | 24,671 | ||||||||||||
Ratio, including interest on deposits (A)/(B) | 1.42x | 1.32x | 1.36x | 1.61x | 1.81x | 1.34x | ||||||||||||||||||
Ratio, excluding interest on deposits (C)/(D) | 2.52x | 2.60x | 3.03x | 3.44x | 3.18x | 1.89x |