Exhibit 12. Statement re:
Computation of Ratio of Earnings to Fixed Charges
Year ended June 30,
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1996 1995 1994 1993 1992
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(Dollars in thousands)
Inclusive of interest on deposits:
Earnings:
Pre-tax income 28,488 24,359 21,216 21,913 17,284
Add: Fixed charges 93,481 73,593 69,867 74,438 87,393
Loss on equity investments 0 0 0 0 0
Loss: Interest capitalized (115) (489) (376) (317) (439)
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Earnings 121,854 97,463 90,707 96,034 104,238
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Fixed charges:
Interest on deposits 63,325 55,794 53,004 59,305 72,717
Interest on borrowed funds 29,896 17,573 16,690 15,006 14,583
Rent expense 260 226 173 127 93
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Fixed charges 93,481 73,593 69,867 74,438 87,393
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Ratio of earnings to fixed charges
inclusive of interest on deposits 1.30 1.32 1.30 1.29 1.19
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Exclusive of interest on deposits:
Earnings:
Pre-tax income 28,488 24,359 21,216 21,913 17,284
Add: Fixed charges 30,156 17,799 16,863 15,133 14,676
Loss on equity investments 0 0 0 0 0
Less: Interest capitalized (115) (489) (376) (317) (439)
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Earnings 58,529 41,669 37,703 36,729 31,521
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Fixed charges:
Interest on deposits 0 0 0 0 0
Interest on borrowed funds 29,896 17,573 16,690 15,006 14,583
Rent expense 260 226 173 127 93
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Fixed charges 30,156 17,799 16,863 15,133 14,676
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Ratio of earnings to fixed charges
inclusive of interest on deposits 1.94 2.34 2.24 2.43 2.15
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