Exhibit 12.1
For the Years Ended December 31, | ||||||||||||||||||||
2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Fixed Charges (excluding interest on deposits) | ||||||||||||||||||||
Interest on borrowings | $ | 76,422 | $ | 108,381 | $ | 109,027 | $ | 103,704 | $ | 59,841 | ||||||||||
Rent | 8,428 | 8,068 | 6,782 | 4,462 | 3,694 | |||||||||||||||
Total fixed charges | 84,850 | 116,449 | 115,809 | 108,166 | 63,535 | |||||||||||||||
(Loss) income from continuing operations before income taxes | (186,755 | ) | (57,584 | ) | 33,976 | 65,929 | 81,507 | |||||||||||||
Total earnings (1) | (101,905 | ) | 58,865 | 149,785 | 174,095 | 145,042 | ||||||||||||||
Ratio of (loss) earnings to fixed charges | (1.20 | ) | 0.51 | 1.29 | 1.61 | 2.28 | ||||||||||||||
Fixed Charges (including interest on deposits) | ||||||||||||||||||||
Interest on borrowings | 76,422 | 108,381 | 109,027 | 103,704 | 59,841 | |||||||||||||||
Interest on deposits | 64,263 | 84,476 | 58,959 | 40,084 | 28,355 | |||||||||||||||
Rent | 8,428 | 8,068 | 6,782 | 4,462 | 3,694 | |||||||||||||||
Total fixed charges | 149,113 | 200,925 | 174,768 | 148,250 | 91,890 | |||||||||||||||
(Loss) income from continuing operations before income taxes | (186,755 | ) | (57,584 | ) | 33,976 | 65,929 | 81,507 | |||||||||||||
Total earnings (2) | (37,642 | ) | 143,341 | 208,744 | 214,179 | 173,397 | ||||||||||||||
Ratio of (loss) earnings to fixed charges | (0.25 | ) | 0.71 | 1.19 | 1.44 | 1.89 | ||||||||||||||
(1) | Total earnings is defined as (loss) income from continuing operations plus fixed charges excluding interest on deposits | |
(2) | Total earnings is defined as (loss) income from continuing operations plus fixed charges including interest on deposits |