Exhibit 12
Computation of Ratio of Earnings to Fixed Charges Including Preferred Stock Dividends
| Years ended December 31, | ||||||||||||||||||||
| 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
Excluding interest on deposits | 2.44 | 2.28 | 1.99 | 1.72 | 2.50 | |||||||||||||||
Including interest on deposits | 1.96 | 1.85 | 1.58 | 1.35 | 1.59 | |||||||||||||||
| 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. |
| Years ended December 31, | ||||||||||||||||||||
| 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
Income before income taxes | $ | 197,185 | $ | 186,941 | $ | 167,545 | $ | 110,525 | $ | 204,926 | ||||||||||
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Interest on deposits | $ | 68,167 | $ | 74,924 | $ | 118,297 | $ | 163,113 | $ | 210,369 | ||||||||||
Borrowings and long-term debt | 130,846 | 139,136 | 144,573 | 145,782 | 132,953 | |||||||||||||||
1/3 of net rental expense | 6,405 | 6,378 | 5,883 | 5,194 | 4,031 | |||||||||||||||
Preferred stock dividends | — | — | 19,524 | 2,090 | — | |||||||||||||||
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Total fixed charges, including interest on deposits | $ | 205,418 | $ | 220,438 | $ | 288,277 | $ | 316,179 | $ | 347,353 | ||||||||||
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Total fixed charges, excluding interest on deposits | $ | 137,251 | $ | 145,514 | $ | 169,980 | $ | 153,066 | $ | 136,984 | ||||||||||
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