Exhibit 12.1 COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES (INCLUDING INTEREST ON DEPOSITS) The Company's ratios of earnings to fixed charges (including interest on deposits) for the six months ended June 30, 1998 and 1997 and the five years ended December 31, 1997 were as follows: (dollars in thousands) Six Six Months Months Ended Ended June 30, June 30, Years Ended December 31, ----------------------------------------- 1998 1997 1997 1996 1995 1994 1993 -------------------------------------------------------------------- Net Income 5,542 4,882 10,735 8,927 6,669 5,701 4,609 Income tax expense 2,828 2,289 4,766 4,114 2,549 2,205 1,592 ----------------------------------------------------------------------- Pretax earnings 8,370 7,171 15,501 13,041 9,218 7,906 6,201 Interest on borrowed funds 2,274 1,739 3,680 1,930 1,865 1,266 712 Interest on deposits 24,371 19,862 42,868 32,161 26,329 15,511 14,031 ----------------------------------------------------------------------- Total fixed charges 26,645 21,601 46,548 34,091 28,194 16,777 14,743 Earnings for ratio calculation 35,015 28,772 62,049 47,132 37,412 24,683 20,944 Ratio of earnings to fixed charges 1.31 1.33 1.33 1.38 1.33 1.47 1.42 The Company's ratios of earnings to fixed charges (excluding interest on deposits) for the six months ended June 30, 1998 and 1997 and the five years ended December 31, 1997 were as follows: (dollars in thousands) Six Six Months Months Ended Ended June 30, June 30, Years Ended December 31, ----------------------------------------- 1998 1997 1997 1996 1995 1994 1993 ---------------------------------------------------------------------- Net Income 5,542 4,882 10,735 8,927 6,669 5,701 4,609 Income tax expense 2,828 2,289 4,766 4,114 2,549 2,205 1,592 ------------------------------------------------------------------------ Pretax earnings 8,370 7,171 15,501 13,041 9,218 7,906 6,201 Interest on borrowed funds 2,274 1,739 3,680 1,930 1,865 1,266 712 ------------------------------------------------------------------------ Total fixed charges 2,274 1,739 3,680 1,930 1,865 1,266 712 Earnings for ratio calculation 10,644 8,910 19,181 14,971 11,083 9,172 6,913 Ratio of earnings to fixed charges 4.68 5.12 5.21 7.76 5.94 7.24 9.71