EXHIBIT 12.1
ONBANCORP, INC. AND SUBSIDIARIES
Computation of Earnings to Fixed Charges
For the Three For the Year Ended December 31,
Months Ended ---------------------------------------------------------------
(Dollars in thousands) March 31, 1997 1996 1995 1994 1993 1992
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(unaudited)
EXCLUDING INTEREST ON DEPOSITS
Income before income taxes and
cumulative effect of accounting change $ 19,335 70,582 71,564 3,412 93,670 70,686
Fixed Charges 15,142 68,634 122,726 113,156 74,388 44,356
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(A.) Earnings $ 34,477 139,216 194,290 116,568 168,058 115,042
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Interest excluding interest on deposits $ 14,804 67,351 121,529 111,979 73,239 43,940
One-third of rental expense for operating
leases 338 1,283 1,197 1,177 1,149 416
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(B.) Fixed charges $ 15,142 68,634 122,726 113,156 74,388 44,356
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Ratio of earnings to fixed charges,
excluding interest on deposits (A./B.) 2.28 x 2.03 x 1.58 x 1.03 x 2.26 x 2.59 x
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INCLUDING INTEREST ON DEPOSITS
Income before income taxes and cumulative
effect of accounting change $ 19,335 70,582 71,564 3,412 93,670 70,686
Fixed charges 54,679 223,381 280,141 225,823 172,204 141,769
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(C.) Earnings $ 74,014 293,963 351,705 229,235 265,874 212,455
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Interest, including interest on
deposits $ 54,341 222,098 278,944 224,646 171,055 141,353
One-third of rental expense for operating
leases. 338 1,283 1,197 1,177 1,149 416
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(D.) Fixed charges $ 54,679 223,381 280,141 225,823 172,204 141,769
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Ratio of earnings to fixed charges, including
interest on deposits (C./D.) 1.35 x 1.32 x 1.26 x 1.02 x 1.54 x 1.50 x
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