Webster Financial (WBS) 8-K Financial Statements and Exhibits

Exhibit 12.1

	At or for the Three Months Ended March 31, 2008		At or for the Year Ended December 31,
			2007		2006		2005		2004		2003
					(in thousands except for ratios)
Ratio of Earnings to Fixed Charges
Including interest on deposits(1)		1.38		1.33		1.38		1.75		1.82		1.97
Excluding interest on deposits(2)		2.27		2.25		1.98		2.60		2.50		2.77
a   Net income from continuing operations	$	26,489	$	110,696	$	133,680	$	182,532	$	150,344	$	160,766
b   Income taxes		14,303		48,088		59,140		85,037		66,523		78,061
c   Interest exp on deposits		75,242		361,307		310,199		188,437		120,606		111,311
d   Interest exp on borrowings		31,906		126,096		195,989		166,069		143,341		133,888
e   Dividends on Webster Preferred Capital Corporation         preferred shares		216		863		863		863		863		863

⁽¹⁾ (a+b+c+d+e)/(c+d+e)

⁽²⁾ (a+b+d+e)/(d+e)