Exhibit 12.1
Ratios of Earnings to Fixed Charges and Preferred Dividends
Nine months ended | |||||||||||||||||||||||||
September 30, | Year ended December 31, | ||||||||||||||||||||||||
2008 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||||||
Earnings: | |||||||||||||||||||||||||
1. | Income before income taxes | 5,150 | 923 | 569 | 8,830 | 9,246 | 7,582 | ||||||||||||||||||
2. | Plus: interest expense | 18,303 | 30,630 | 28,974 | 23,296 | 13,968 | 12,726 | ||||||||||||||||||
3. | Earnings including interest on deposits | 23,453 | 31,553 | 29,543 | 32,126 | 23,214 | 20,308 | ||||||||||||||||||
4. | Less: interest on deposits | 10,132 | 20,835 | 18,005 | 11,599 | 7,415 | 7,173 | ||||||||||||||||||
5. | Earnings excludng interest on deposits | 13,321 | 10,718 | 11,538 | 20,527 | 15,799 | 13,135 | ||||||||||||||||||
Fixed Charges: | |||||||||||||||||||||||||
6. | Interest expense (Line 2) | 18,303 | 30,630 | 28,974 | 23,296 | 13,968 | 12,726 | ||||||||||||||||||
7. | Less: interest expense on deposits (Line 4) | 10,132 | 20,835 | 18,005 | 11,599 | 7,415 | 7,173 | ||||||||||||||||||
8. | Excluding interest on deposits | 8,171 | 9,795 | 10,969 | 11,697 | 6,553 | 5,553 | ||||||||||||||||||
Ratio of Earnings to Fixed Charges: | |||||||||||||||||||||||||
Including interest on deposits | |||||||||||||||||||||||||
(line 3 divided by Line 6) | 1.28 | 1.03 | 1.02 | 1.38 | 1.66 | 1.60 | |||||||||||||||||||
Excluding interest on deposits | |||||||||||||||||||||||||
(line 5 divided by Line 8) | 1.63 | 1.09 | 1.05 | 1.75 | 2.41 | 2.37 |