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EXHIBIT 12
STATEMENT REGARDING COMPUTATION OF RATIOS
AT OR FOR THE YEARS ENDED DECEMBER 31,
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1996 1995 1994 1993 1992
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(DOLLARS IN THOUSANDS)
(Net earnings loss) $ 11,338 $ 7,197 $ 8,998 $ 8,608 $ 6,947
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Average assets $ 2,147,005 $ 2,003,137 $ 1,647,062 $ 1,308,158 $ 1,154,213
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Average equity $ 107,570 $ 96,520 $ 88,102 $ 77,357 $ 69,885
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RETURN ON AVERAGE ASSETS 0.53% 0.36% 0.55% 0.66% 0.60%
RETURN ON AVERAGE EQUITY 10.54% 7.46% 10.21% 11.13% 9.94%
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Average equity $ 107,570 $ 96,520 $ 88,102 $ 77,357 $ 69,885
less: Average intangibles (237) (35) (3,467) (3,744) (1,923)
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Average tangible equity $ 107,333 $ 96,485 $ 84,626 $ 73,613 $ 67,962
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Average assets $ 2,147,005 $ 2,003,137 $ 1,647,062 $ 1,308,158 $ 1,154,213
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AVERAGE TANGIBLE EQUITY TO
AVERAGE ASSETS 5.00% 4.82% 5.14% 5.63% 5.89%
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Average interest earning assets $ 2,080,634 $ 1,927,570 $ 1,582,928 $ 1,236,440 $ 1,092,241
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Average interest bearing liabilities $ 2,013,602 $ 1,891,902 $ 1,555,139 $ 1,224,120 $ 1,069,480
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AVERAGE INTEREST EARNING ASSETS TO
AVERAGE INTEREST BEARING LIABILITIES 103.33% 101.89% 101.79% 101.01% 102.13%
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Net interest income after provisions for
loan losses 43,109 $35,585 $ 36,696 $ 35,268 $ 33,454
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Other expense $ 44,067 $ 33,151 $ 32,069 $ 25,527 $ 25,968
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NET INTEREST INCOME AFTER PROVISIONS
FOR LOSSES, TO OTHER EXPENSE 97.83% 107.34% 114.43% 138.16% 128.83%
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Other expense $ 44,067 $ 33,151 $ 32,069 $ 25,527 $ 25,968
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Average assets $ 2,147,005 $ 2,003,137 $ 1,647,062 $ 1,308,158 $ 1,154,213
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OTHER EXPENSE TO AVERAGE ASSETS 2.05% 1.65% 1.95% 1.95% 2.25%