EXHIBIT 12.0
STATEMENT RE: RATIO OF EARNINGS TO FIXED CHARGES
| Years Ended December 31, | ||||||||||||
| (dollars in thousands) | 2010 | 2009 | 2008 | |||||||||
Including Interest Paid on Deposits: | ||||||||||||
Earnings before income taxes | $ | 837,471 | $ | 593,149 | $ | 53,794 | ||||||
Combined fixed charges: | ||||||||||||
Interest expense on deposits | 216,540 | 212,815 | 348,393 | |||||||||
Interest expense on borrowed funds | 517,291 | 516,472 | 581,241 | |||||||||
Appropriate portion (1/3) of rent expenses | 12,016 | 9,369 | 9,250 | |||||||||
Total fixed charges | $ | 745,847 | $ | 738,656 | $ | 938,884 | ||||||
Earnings before income taxes and fixed charges | $ | 1,583,318 | $ | 1,331,805 | $ | 992,678 | ||||||
Ratio of earnings to fixed charges | 2.12 | x | 1.80 | x | 1.06 | x | ||||||
Excluding Interest Paid on Deposits: | ||||||||||||
Earnings before income taxes | $ | 837,471 | $ | 593,149 | $ | 53,794 | ||||||
Combined fixed charges: | ||||||||||||
Interest expense on borrowed funds | 517,291 | 516,472 | 581,241 | |||||||||
Appropriate portion (1/3) of rent expenses | 12,016 | 9,369 | 9,250 | |||||||||
Total fixed charges | $ | 529,307 | $ | 525,841 | $ | 590,491 | ||||||
Earnings before income taxes and fixed charges | $ | 1,366,778 | $ | 1,118,990 | $ | 644,285 | ||||||
Ratio of earnings to fixed charges | 2.58 | x | 2.13 | x | 1.09 | x | ||||||