BANK PLUS CORPORATION
COMPUTATION OF RATIO OF EARNINGS (LOSS) TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
For the year ended December 31,
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2000 1999 1998 1997 1996
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(Dollars in thousands)
Earnings (loss) from continuing operations
before income taxes .......................... $ 31,518 $ 34,797 $ 12,864 $ 7,721 $ (10,525)
Add:
Interest on deposits ......................... 103,191 113,156 145,020 126,717 120,265
Interest on borrowings ....................... 6,465 30,817 64,185 47,292 32,358
One-third of rents ......................... 982 1,064 1,122 870 990
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Earnings as adjusted (A) ................. $ 142,156 $ 179,834 $ 223,191 $ 182,600 $ 143,088
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Earnings as adjusted .............................. $ 142,156 $ 179,834 $ 223,191 $ 182,600 $ 143,088
Less:
Interest on deposits ......................... 103,191 113,156 145,020 126,717 120,265
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Adjusted earnings (loss) excluding
interest on deposits (B) ............. $ 38,965 $ 66,678 $ 78,171 $ 55,883 $ 22,823
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Fixed Charges:
Interest on deposits ......................... $ 103,191 $ 113,156 $ 145,020 $ 126,717 $ 120,265
Interest on borrowings ....................... 6,465 30,817 64,185 47,292 32,358
One-third of rents ........................... 982 1,064 1,122 870 990
Dividends on preferred stock of
subsidiary ............................... 48 48 48 7,302 10,707
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Fixed charges (C) ............................ $ 110,686 $ 145,085 $ 210,375 $ 182,181 $ 164,320
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Fixed charges excluding interest
on deposits (D) .......................... $ 7,495 $ 31,929 $ 65,355 $ 55,464 $ 44,055
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Ratio of earnings to fixed charges (A) / (C) ...... 1.28 1.24 1.06 1.00 0.87
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Ratio of earnings (loss) to fixed charges excluding
interest on depostits (B) / (D) .............. 5.20 2.09 1.20 1.01 0.52
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Amount of coverage deficiency ..................... N/A N/A N/A N/A $ (21,232)
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