Exhibit 12
Consolidated Ratios of Earnings to Fixed Charges
| Nine months ended September 30, 2008 | Years ended December 31, | |||||||||||||||||
| 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||
Excluding interest on deposits | 1.87 | x | 2.50 | x | 2.56 | x | 3.17 | x | 3.90 | x | 3.91 | x | ||||||
Including interest on deposits | 1.41 | x | 1.59 | x | 1.64 | x | 2.00 | x | 2.54 | x | 2.54 | x | ||||||
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.
| Nine months ended September 30, 2008 | Years ended December 31, | |||||||||||||||||
| 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||
Income before income taxes | $ | 96,540 | $ | 204,926 | $ | 203,575 | $ | 230,227 | $ | 228,595 | $ | 233,150 | ||||||
Interest on deposits | $ | 122,852 | $ | 210,369 | $ | 188,476 | $ | 123,057 | $ | 69,947 | $ | 70,966 | ||||||
Borrowings and long-term debt | 106,839 | 132,953 | 127,774 | 103,602 | 76,660 | 77,956 | ||||||||||||
1/3 of net rental expense | 3,806 | 4,031 | 3,012 | 2,652 | 2,140 | 2,183 | ||||||||||||
Total fixed charges, including interest on deposits | $ | 233,497 | $ | 347,353 | $ | 319,262 | $ | 229,311 | $ | 148,747 | $ | 151,105 | ||||||
Total fixed charges, excluding interest on deposits | $ | 110,645 | $ | 136,984 | $ | 130,786 | $ | 106,254 | $ | 78,800 | $ | 80,139 | ||||||
