Exhibit 12.1 Quad City Holdings, Inc. Calculation of earnings to fixed charges Jun-00 Jun-99 Jun-98 Jun-97 Jun-96 ------------------------------------------- Earnings before income taxes .................................... 4,426 4,079 4,071 1,384 683 ------------------------------------------ Add: preferred dividends on a pretax basis ...................... 0 0 0 0 0 Add: fixed charges .............................................. 13,552 11,269 8,437 4,997 3,495 ------------------------------------------ Earnings including interest expense on deposits (1) ............. 17,978 15,348 12,508 6,381 4,178 Less: interest expense on deposits .............................. 10,125 9,010 6,971 4,358 3,350 ------------------------------------------ Earnings excluding interest expense on deposits (2) ............. 7,853 6,338 5,537 2,023 828 Fixed charges: Interest expense on deposits ................................. 10,125 9,010 6,971 4,358 3,350 Interest expense on borrowings ............................... 3,164 2,017 1,371 636 136 Portion of rents representative of interest factor ........... 263 242 95 3 9 ------------------------------------------ Fixed charges including interest expense on deposits (3) ........ 13,552 11,269 8,437 4,997 3,495 Less interest expense on deposits ............................... 10,125 9,010 6,971 4,358 3,350 ------------------------------------------ Fixed charges excluding interest expense on deposits (4) ........ 3,427 2,259 1,466 639 145 ========================================== Rents ........................................................... 451 430 176 10 20 Portion of rents representative of interest factor .............. 263 242 95 3 9 Ratio of earnings to fixed charges and preferred stock dividends: Excluding interest expense on deposits ( (2)/(4) ) ........... 2.29 2.81 3.78 3.17 5.71 Including interest expense on deposits ( (1)/(3) ) ........... 1.33 1.36 1.48 1.28 1.20