Citizens Funding Trust IV S-3 Shelf registration

Exhibit 12

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
AND EARNINGS TO COMBINED FIXED CHARGES

     The following table sets forth our ratio of earnings to fixed charges and preferred stock dividends for the periods indicated:

	Six Months
	Ended
	June 30,			Year Ended December 31,
	2009			2008			2007		2006		2005		2004
Income (loss) from continuing operations, before income tax		(407,444	)		(322,082	)		132,147		82,655		112,106		81,269
Fixed charges:
Interest on short-term borrowings		148			8,029			34,316		16,017		25,929		9,574
Interest on long-term debt		49,698			123,067			134,222		46,083		36,417		33,618
Estimated interest component of net rental expense		926			1,992			2,258		1,120		1,196		1,040
Preferred stock dividend requirements		9,652			9,617			—		—		—		—
Combined fixed charges and preferred stock dividends, excluding interest on deposits		60,424			142,705			170,796		63,220		63,542		44,232
Interest on deposits		89,428			220,883			257,194		147,132		85,154		63,389
Combined fixed charges and preferred stock dividends, including interest on deposits		149,852			363,588			427,990		210,352		148,696		107,621
Ratio of earnings to combined fixed charges and preferred stock dividend requirements:
Excluding interest on deposits (a)		—	(b)		—			1.77		2.31		2.76		2.84
Including interest on deposits (a)		—			0.11			1.31		1.39		1.75		1.76

(a)	For the six months ended June 30, 2009, earnings were insufficient to cover fixed charges including or excluding interest on deposits by $407.4 million.
(b)	For the year ended December 31, 2008, earnings were insufficient to cover fixed charges by $322.1 million.

     For purposes of computing the above ratios, earnings represent net income from continuing operations before income tax provision. Fixed charges, excluding interest on deposits, include interest on short-term borrowings and long-term debt, amortization of debt expense, and one-third of net rental expense (which we believe is representative of the interest factor). Fixed charges, including interest on deposits, include all of the items listed above plus interest on deposits.