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EXHIBIT 12
DIME BANCORP, INC. AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS)
FOR THE YEAR ENDED DECEMBER 31,
--------------------------------------
1998 1997 1996
---------- ---------- ----------
EXCLUDING INTEREST ON DEPOSITS FROM FIXED CHARGES
Earnings:
Income before income taxes, extraordinary items and
cumulative effect of a change in accounting
principle......................................... $ 354,622 $ 198,208 $ 154,240
Fixed charges........................................ 360,903 348,297 364,093
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Total earnings as adjusted...................... $ 715,525 $ 546,505 $ 518,333
========== ========== ==========
Fixed charges:
Interest expense on borrowed funds................... $ 347,825 $ 340,394 $ 358,187
Portion of rent expense deemed representative of
interest factor(1)................................ 13,078 7,903 5,906
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Total fixed charges............................. $ 360,903 $ 348,297 $ 364,093
========== ========== ==========
Ratio of earnings to fixed charges excluding interest
on deposits.......................................... 1.98x 1.57x 1.42x
INCLUDING INTEREST ON DEPOSITS IN FIXED CHARGES
Earnings:
Income before income taxes, extraordinary items and
cumulative effect of a change in accounting
principle......................................... $ 354,622 $ 198,208 $ 154,240
Fixed charges........................................ 906,730 907,656 895,309
---------- ---------- ----------
Total earnings as adjusted...................... $1,261,352 $1,105,864 $1,049,549
========== ========== ==========
Fixed charges:
Interest expense on borrowed funds................... $ 347,825 $ 340,394 $ 358,187
Interest expense of deposits......................... 545,827 559,359 531,216
Portion of rent expense deemed representative of
interest factor(1)................................ 13,078 7,903 5,906
---------- ---------- ----------
Total fixed charges............................. $ 906,730 $ 907,656 $ 895,309
========== ========== ==========
Ratio of earnings to fixed charges including interest
on deposits.......................................... 1.39x 1.22x 1.17x
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(1) Represents one-third of total rent expense.