1 EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Six months ended June 30 Year Ended December 31 1999 1998 1998 1997 1996 1995 1994 ---- ---- ---- ---- ---- ---- ---- (dollars in thousands, except per share date) Earnings: Pre-tax earnings from operations 2,421 2,145 4,861 3,539 2,733 2,045 1,608 Fixed charges 6,777 5,787 12,576 8,992 5,814 5,091 2,770 Earnings as adjusted (A) 9,198 7,932 17,437 12,531 8,547 7,136 4,378 Fixed charges: Rent Expense (B) 367 349 707 410 245 204 200 Interest expense on deposits (C) 6,248 5,438 11,802 8,579 5,554 4,887 2,570 Interest expense on borrowings (D) 162 -- 67 3 15 -- -- Ratio of earnings to fixed charges (A) divided by (B)+(C)+(D) 1.36 1.37 1.39 1.39 1.47 1.40 1.58 (A)-(C) divided by (B)+(D) 5.58 7.15 7.28 9.57 11.51 11.02 9.04