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Exhibit 12.1
Six Months
Ended
June 30, Year Ended December 31,
2001 2000 1999 1998 1997 1996
<s> <c> <c> <c> <c> <c> <c>
FIXED CHARGES:
Interest on deposits 414,095 735,087 440,826 443,833 378,813 351,084
Interest on borrowings 217,555 679,837 551,847 417,926 367,882 278,776
Minority interest expense (Trust preferred
+ REIT preferred) 29,074 44,293 15,393 12,528 11,677 274
Accretion of debt premium and issuance expense - - - 1,067 475 477
Portion of rent expense
representative of interest 25,598 29,583 5,487 3,525 2,627 2,086
Total Fixed Charges including deposit interest 686,322 1,488,800 1,013,553 878,879 761,474 632,697
Total Fixed Charges excluding deposit interest 272,227 753,713 572,727 435,046 382,661 281,613
Preferred Dividends - - - 2,413 10,071 10,081
Total Fixed Charges & Preferred Stock Dividend
including deposit interest 686,322 1,488,800 1,013,553 881,292 771,545 642,778
excluding deposit interest 272,227 753,713 572,727 437,459 392,732 291,694
EARNINGS:
Income before taxes 49,194 (106,232) 268,614 211,206 169,862 137,887
Total fixed charges including deposit interest 686,322 1,488,800 1,013,553 878,879 761,474 632,697
Total earnings including deposit
interest in fixed charges 735,516 1,382,568 1,282,167 1,090,085 931,336 770,584
Income before taxes 49,194 (106,232) 268,614 211,206 169,862 137,887
Total fixed charges excluding deposit interest 272,227 753,713 572,727 435,046 382,661 281,613
Total earnings excluding deposit
interest in fixed charges 321,421 647,481 841,341 646,252 552,523 419,500
RATIOS OR DEFICIENCY:
Earnings/fixed charges (1)
Including interest on deposits 1.07 deficiency 1.27 1.24 1.22 1.22
Excluding interest on deposits 1.18 deficiency 1.47 1.49 1.44 1.49
Deficiency in earnings to fixed charges
including deposit N/A 106,232 N/A N/A N/A N/A
Deficiency in earnings to fixed charges
excluding deposits N/A 106,232 N/A N/A N/A N/A
Earnings/fixed charges & pfd divs
Including interest on deposits 1.07 deficiency 1.27 1.24 1.21 1.20
Excluding interest on deposits 1.18 deficiency 1.47 1.48 1.41 1.44
Deficiency in earnings to fixed chrgs
& prfd including deposits N/A 106,232 N/A N/A N/A N/A
Deficiency in earnings to fixed chrgs
& prfd excluding deposits N/A 106,232 N/A N/A N/A N/A
Details of Interest Expense and Fixed Charges Components:
Rent Expense 41,263 51,995 16,460 9,723 4,437 3,209
less Sale-leaseback rent 13,575 13,575 - - - -
27,688 38,420 16,460 9,723 4,437 3,209
1/3 rent of expense 9,229 12,807 5,487 3,241 1,479 1,070
+ sale-leaseback interest 16,369 16,777 - - - -
25,598 29,583 5,487 3,241 1,479 1,070
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(1) Ratio of Earnings/Fixed Charges and Earnings/Fixed Charges & Preferred Dividends are the same for 6/30/01, 2000, and 1999 as
the preferred shares were eliminated in 1998
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