1 STATEMENT OF COMPUTATION OF EARNINGS EXHIBIT 12(A) TO FIXED CHARGES Three Months Ended March 31, (dollars in thousands) 2001 2000 2000 1999 1998 1997 1996 --------------- ---- ---- ---- ---- ---- ---- EARNINGS, INCLUDING INTEREST ON DEPOSITS (1) Income before income taxes $ 160,297 $ 304,726 $ 1,221,527 $ 1,178,762 $ 1,003,572 $ 907,792 $ 751,786 Fixed charges 432,333 391,956 1,785,300 1,260,186 1,273,671 1,301,146 1,234,431 --------- ----------- ----------- ----------- ----------- ----------- ----------- $ 592,630 $ 696,682 $ 3,006,827 $ 2,438,948 $ 2,277,243 $ 2,208,938 $ 1,986,217 ========= =========== =========== =========== =========== =========== =========== FIXED CHARGES (1) Interest expense $ 428,168 $ 387,824 $ 1,768,979 $ 1,244,279 $ 1,258,151 $ 1,286,264 $ 1,218,556 Portion of net rental expense estimated to be representative of the interest factor 4,165 4,132 16,321 15,907 15,520 14,882 15,875 --------- ----------- ----------- ----------- ----------- ----------- ----------- $ 432,333 $ 391,956 $ 1,785,300 $ 1,260,186 $ 1,273,671 $ 1,301,146 $ 1,234,431 ========= =========== =========== =========== =========== =========== =========== Consolidated ratio of earnings to fixed charges (including interest on deposits) 1.37 1.78 1.68 1.94 1.79 1.70 1.61 ========= =========== =========== =========== =========== =========== =========== EARNINGS, EXCLUDING INTEREST ON DEPOSITS (1) Income before income taxes $ 160,297 $ 304,726 $ 1,221,527 $ 1,178,762 $ 1,003,572 $ 907,792 $ 751,786 Fixed charges 160,406 189,060 829,132 565,875 535,180 555,095 484,341 --------- ----------- ----------- ----------- ----------- ----------- ----------- 320,703 493,786 2,050,659 1,744,637 1,538,752 1,462,887 1,236,127 ========= =========== =========== =========== =========== =========== =========== FIXED CHARGES (1) Interest expense 428,168 387,824 1,768,979 1,244,279 1,258,151 1,286,264 1,218,556 Less: Interest on deposits (271,927) (202,896) (956,168) (694,311) (738,491) (746,051) (750,090) Portion of net rental expense estimated to be representative of the interest factor 4,165 4,132 16,321 15,907 15,520 14,882 15,875 --------- ----------- ----------- ----------- ----------- ----------- ----------- 2 $160,406 $189,060 $829,132 $565,875 $535,180 $555,095 $484,341 ======== ======== ======== ======== ======== ======== ======== Consolidated ratio of earnings to fixed charges (excluding interest on deposits) 2.00 2.61 2.47 3.08 2.88 2.64 2.55 ======== ======== ======== ======== ======== ======== ======== * The ratio of earnings to fixed charges is computed by dividing income before income taxes and fixed charges by fixed charges. Fixed charges are defined as interest expense and the portion of net rental expense estimated to be representative of the interest factor. (1) As defined in Item 503 (d) of regulation S-K. Rental Expense CMA 38,883 39,421 38,678 37,795 40,678 Imperial 10,085 8,304 7,888 6,856 6,952 -------- -------- -------- -------- -------- -------- -------- Rental Expense 12,495 12,398 48,968 47,725 46,566 44,651 47,630 Factor deemed to be interest 0.3333 0.3333 0.3333 0.3333 0.3333 0.3333 0.3333 -------- -------- -------- -------- -------- -------- -------- Portion of net rental expense estimated to be representative of the interest factor 4,165 4,132 16,321 15,907 15,520 14,882 15,875