1
Dime Bancorp, Inc. and Subsidiaries
Exhibit 12
Ratio of Earnings to Fixed Charges
(Dollars in thousands)
For the For the
Three Months Ended Six Months Ended
June 30, June 30,
-------------------- --------------------
1999 1998 1999 1998
-------- -------- -------- --------
Excluding Interest on Deposits
from Fixed Charges
Earnings:
Income before income taxes
and extraordinary items $ 96,535 $ 85,686 $190,134 $169,875
Fixed charges 82,498 90,323 170,387 191,269
-------- -------- -------- --------
Total earnings as adjusted $179,033 $176,009 $360,521 $361,144
======== ======== ======== ========
Fixed charges:
Interest expense on borrowed funds $ 78,617 $ 87,237 $162,890 $185,097
Portion of rent expense deemed
representative of interest factor (1) 3,881 3,086 7,497 6,172
-------- -------- -------- --------
Total fixed charges $ 82,498 $ 90,323 $170,387 $191,269
======== ======== ======== ========
Ratio of earnings to fixed charges
excluding interest on deposits 2.17x 1.95x 2.12x 1.89x
Including Interest on Deposits in
Fixed Charges
Earnings:
Income before income taxes and
extraordinary items $ 96,535 $ 85,686 $190,134 $169,875
Fixed charges 199,009 229,360 406,740 469,334
-------- -------- -------- --------
Total earnings as adjusted $295,544 $315,046 $596,874 $639,209
======== ======== ======== ========
Fixed charges:
Interest expense on borrowed funds $ 78,617 $ 87,237 $162,890 $185,097
Interest expense of deposits 116,511 139,037 236,353 278,065
Portion of rent expense deemed
representative of interest factor (1) 3,881 3,086 7,497 6,172
-------- -------- -------- --------
Total fixed charges $199,009 $229,360 $406,740 $469,334
======== ======== ======== ========
Ratio of earnings to fixed charges
including interest on deposits 1.49x 1.37x 1.47x 1.36x
(1) Represents one-third of total rent expense.