Exhibit 12.1
Banknorth Group, Inc.
Computation of Earnings to Fixed Charges
($ in 000's)
Year ended December 31,
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2001 2000 1999 1998 1997
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EARNINGS:
Earnings before income taxes and extraordinary items $369,184 $ 288,527 $294,307 $214,822 $223,676
Fixed charges excluding interest on deposits 226,483 321,435 245,430 166,877 132,882
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Earnings including fixed charges but excluding interest on deposits 595,667 609,962 539,737 381,699 356,558
Interest on deposits 363,974 411,250 373,256 405,416 370,921
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Earnings including fixed charges and interest on deposits $959,641 $1,021,212 $912,993 $787,115 $727,479
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FIXED CHARGES:
Interest expense, excluding interest on deposits $219,851 $ 315,413 $239,868 $162,444 $129,215
Interest within rent expense (1/3 rent expense) 6,632 6,022 5,562 4,433 3,667
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Fixed charges excluding interest on deposits 226,483 321,435 245,430 166,877 132,882
Interest on deposits 363,974 411,250 373,256 405,416 370,921
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Fixed charges including interest on deposits $590,457 $ 732,685 $618,686 $572,293 $503,803
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RATIO OF EARNINGS TO FIXED CHARGES:
Excluding interest expense on deposits 2.63x 1.90x 2.20x 2.29x 2.68x
Including interest expense on deposits 1.63x 1.39x 1.48x 1.38x 1.44x