GOLDEN STATE HOLDINGS INC. AND SUBSIDIARIES
RATIO OF EARNINGS TO COMBINED FIXED CHARGES, MINORITY INTEREST AND PREFERRED
STOCK DIVIDENDS
Years ended December 31,
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1998 1997 1996 1995 1994
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Fixed charges (excluding interest on deposits):
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Interest on borrowings $983,013 $693,819 $388,626 $287,456 $98,888
Total fixed charges (excluding interest on deposits) 983,013 693,819 388,626 287,456 98,888
Rent interest factor 9,060 7,857 5,044 6,628 1,746
Income before income taxes, extraordinary item
and minority interest 450,357 297,861 549,208 122,450 31,928
Earnings 1,442,430 999,537 942,878 416,534 132,562
Fixed charges (excluding interest on deposits) 992,073 701,676 393,670 294,084 100,634
Minority interest and preferred stock dividends 110,527 102,135 48,045 34,584 0
Combined fixed charges excluding interest
on deposits, minority interest and preferred stock
dividends 1,102,600 803,811 441,715 328,668 100,634
Ratio of earnings to combined fixed charges,
(excluding interest on deposits), minority interest
and preferred stock dividends 1.31 x 1.24 x 2.13 x 1.27 x 1.32 x
Fixed charges (including interest on deposits):
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Interest on deposits $791,112 $746,985 $419,174 $447,359 $100,957
Interest on borrowings 983,013 693,819 388,626 287,456 98,888
Total fixed charges (including interest on deposits) 1,774,125 1,440,804 807,800 734,815 199,845
Rent interest factor 9,060 7,857 5,044 6,628 1,746
Income before income taxes, extraordinary item
and minority interest 450,357 297,861 549,208 122,450 31,928
Earnings 2,233,542 1,746,522 1,362,052 663,893 233,519
Fixed charges (including interest on deposits) 1,783,185 1,448,661 812,844 741,443 201,591
Minority interest and preferred stock dividends 110,527 102,135 48,045 34,584 0
Combined fixed charges (including interest
on deposits), minority interest and preferred stock
dividends 1,893,712 1,550,796 860,889 776,027 201,591
Ratio of earnings to combined fixed charges (including
interest on deposits), minority interest and preferred
stock dividends 1.18 x 1.13 x 1.58 x 1.11 x 1.16 x