Exhibit 12. Statement re:
Computation of Ratio of Earnings to Fixed Charges
Year Ended Year Ended Year Ended Year Ended Year Ended
December 31, December 31, December 31, December 31, December 31,
------------------------------------------------------------------------------------
2001 2000 1999 1998 1997
------------------------------------------------------------------------------------
(Dollars in thousands)
Inclusive of interest on deposits:
Earnings:
Pre-tax income 94,941 88,870 82,755 62,495 60,655
Add: Fixed charges 215,854 218,375 169,546 151,728 146,293
Less: Interest capitalized (168) (256) (536) (267) (308)
------------------------------------------------------------------------------------
Earnings 310,627 306,989 251,765 213,956 206,640
====================================================================================
Fixed charges:
Interest on deposits 120,664 115,509 99,665 95,788 98,581
Interest on borrowed funds 93,825 101,664 68,736 54,787 46,635
Rent expense 1,365 1,202 1,145 1,153 1,077
------------------------------------------------------------------------------------
Fixed charges 215,854 218,375 169,546 151,728 146,293
====================================================================================
Ratio of earnings to fixed charges
inclusive of interest on deposits 1.44 1.41 1.48 1.41 1.41
====================================================================================
Exclusive of interest on deposits:
Earnings:
Pre-tax income 94,941 88,870 82,755 62,495 60,655
Add: Fixed charges 95,190 102,866 69,881 55,940 47,712
Less: Interest capitalized (168) (256) (536) (267) (308)
------------------------------------------------------------------------------------
Earnings 189,963 191,480 152,100 118,168 108,059
====================================================================================
Fixed charges:
Interest on deposits - - - - -
Interest on borrowed funds 93,825 101,664 68,736 54,787 46,635
Rent expense 1,365 1,202 1,145 1,153 1,077
------------------------------------------------------------------------------------
Fixed charges 95,190 102,866 69,881 55,940 47,712
====================================================================================
Ratio of earnings to fixed charges
exclusive of interest on deposits 2.00 1.86 2.18 2.11 2.26
====================================================================================