Exhibit 12.1
Greater Bay Bancorp Annual Report of Form 10-K
Statements re Computation of Ratios of Earnings to Fixed Charges
For the Years Ended December 31, | ||||||||||||||||||||
2003 | 2002 | 2001 | 2000 | 1999 | ||||||||||||||||
Income before income taxes | $ | 149,020 | $ | 196,327 | $ | 106,284 | $ | 110,829 | $ | 77,762 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | 109,838 | 160,555 | 199,793 | 165,892 | 110,710 | |||||||||||||||
Interest factor of rental expense | 6,633 | 6,081 | 3,733 | 2,778 | 2,493 | |||||||||||||||
Fixed charges | 116,471 | 166,636 | 203,526 | 168,670 | 113,203 | |||||||||||||||
Less: interest expense on deposits | 57,684 | 82,747 | 132,655 | 146,269 | 98,588 | |||||||||||||||
Net fixed charges | 58,787 | 83,889 | 70,871 | 22,401 | 14,615 | |||||||||||||||
Earnings, excluding interest on deposits from fixed charges | $ | 207,807 | $ | 280,216 | $ | 177,155 | $ | 133,230 | $ | 92,377 | ||||||||||
Ratio of earnings, excluding interest on deposits, to net fixed charges(1) | 3.53 | x | 3.34 | x | 2.50 | x | 5.95 | x | 6.32 | x | ||||||||||
Earnings, including interest on deposits in fixed charges | $ | 265,491 | $ | 362,963 | $ | 309,810 | $ | 279,499 | $ | 190,965 | ||||||||||
Ratio of earnings, including interest on deposits, to fixed charges(2) | 2.28 | x | 2.18 | x | 1.52 | x | 1.66 | x | 1.69 | x |
(1) | For the purposes of computing the ratio of earnings, excluding interest on deposits from fixed charges, to net fixed charges, earnings represent income before income taxes plus net fixed charges. Net fixed charges include interest expense, other than interest on deposits, and that portion of rental expense, generally one third, deemed representative of the interest factor. |
(2) | For the purposes of computing the ratio of earnings, including interest on deposits in fixed charges, to fixed charges, earnings represent income before income taxes plus fixed charges. Fixed charges include interest expense and that portion of rental expense, generally one third, deemed representative of the interest factor. |