Webster Financial (WBS) 8-K Other Events

Exhibit 12.1

WEBSTER FINANCIAL CORPORATION

Ratio of Earnings to Fixed Charges		For the Three Months Ended March 31, 2009			For the Years Ended December 31,
					2008			2007			2006			2005			2004
		(Dollars in thousands)
Earnings
	(Loss) income from continuing operations attributable to Webster Financial Corporation	$	(11,113	)	$	(317,890	)	$	111,572		$	134,533		$	183,371		$	151,793
	Taxes		(593	)		(65,840	)		48,088			59,140			85,037			66,523
	Pre-tax (loss) income from continuing operations attributable to Webster Financial Corporation		(11,706	)		(383,730	)		159,660			193,673			268,408			218,316
	Fixed charges excluding preferred dividends		73,561			363,482			487,403			506,188			354,506			263,947
A	Earnings		61,855			(20,248	)		647,063			699,861			622,914			482,263
	Less deposits		52,908			250,182			361,307			310,199			188,437			120,606
B	Earnings excluding deposits	$	8,947		$	(270,430	)	$	285,756		$	389,662		$	434,477		$	361,657
Fixed Charges
	Deposits	$	52,908		$	250,182		$	361,307		$	310,199		$	188,437		$	120,606
	Long term debt		7,799			39,421			46,025			49,366			43,604			36,907
	Other borrowings		12,854			73,879			80,071			146,623			122,465			106,434
	Fixed charges excluding preferred dividends		73,561			363,482			487,403			506,188			354,506			263,947
	Preferred dividends		10,431			12,950			863			863			863			863
C	Total fixed charges		83,992			376,432			488,266			507,051			355,369			264,810
	Less deposits		(52,908	)		(250,182	)		(361,307	)		(310,199	)		(188,437	)		(120,606	)
D	Total fixed charges excluding deposits	$	31,084		$	126,250		$	126,959		$	196,852		$	166,932		$	144,204
Ratio of Earnings to Fixed Charges
	Including interest on deposits (A/C)		—			—			1.33	x		1.38	x		1.75	x		1.82	x
	Excluding interest on deposits (B/D)		—			—			2.25			1.98			2.60			2.51
Deficiency in earnings available to cover fixed charges(1)		$	22,137		$	396,680			—			—			—			—

⁽¹⁾ Included if the ratio is less than a one-to-one coverage