Santander Bancorp Inactive 10-K2007 FY Annual report

Filed: 17 Mar 08, 12:00am

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New words: acquiree, ARB, arose, automobile, bargaining, Blocked, blocking, BSPR, cancellation, Carryforward, ceded, celebration, cement, choose, citizen, complemented, Concurrently, constantly, consummated, contemporaneously, contributory, country, CPI, cycle, deconsolidation, delayed, deploy, devoting, disbursed, distinguish, drawdown, eroded, escalation, Exit, expansion, fifteen, FINRA, food, force, gauge, hand, homebuyer, inhibit, intensive, jointly, labor, marketplace, master, MBPR, midst, mitigate, NABL, nineteen, Noncompliance, noncontractual, noncontrolling, Nonfarm, nonresident, OFAC, offshore, overdue, owing, penalty, POS, possession, preliminary, proactively, prolonged, provisional, reclaim, reconciliation, refund, rental, rollforward, sanctioned, setoff, SFS, similarly, specialist, stagnant, surge, territory, verified, weak, withdrawn

Removed: closing, demonstrate, effort, focused, fractional, improved, lieu, NASD, occupant, pro, proof, transit, undertook

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Exhibit 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES


										As Restated
	2007			2006			2005			2004			2003
Income before taxes	$	(32,041	)	$	65,709		$	110,594		$	96,652		$	39,773
Plus: Fixed Charges
Interest expense		362,531			327,714			212,583			140,762			132,612

Rent Expense		3,574			3,423			2,309			1,956			1,819

Total fixed charges (including interest on deposits)		366,105			331,137			214,892			142,718			134,431
Less: Interest on deposits		(191,415	)		(173,380	)		(122,212	)		(60,279	)		(56,030	)

Total fixed charges (excluding interest on deposits)		174,690			157,757			92,680			82,439			78,401

Income before income taxes and fixed charges (including interest on deposits)	$	334,064		$	396,846		$	325,486		$	239,370		$	174,204
Income before income taxes and fixed charges (excluding interest on deposits)	$	142,649		$	223,466		$	203,274		$	179,091		$	118,174
Dividend on P/S		—			—			—			—			7,063
Ratio of Earnings to fixed charges
Including interest on deposits		0.91	x		1.20	x		1.51	x		1.68	x		1.30	x
Excluding interest on deposits		0.82	x		1.42	x		2.19	x		2.17	x		1.51	x

Ratio of Earnings to fixed charges and preferred stock dividends
Including interest on deposits		0.91	x		1.20	x		1.51	x		1.68	x		1.23	x
Excluding interest on deposits		0.82	x		1.42	x		2.19	x		2.17	x		1.38	x

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