EXHIBIT 12.1 FIRST BANKS, INC. RATIO OF EARNINGS TO FIXED CHARGES AS OF OR FOR THE SIX MONTHS ENDED JUNE 30, AS OF OR FOR THE YEAR ENDED DECEMBER 31, -------------------- ------------------------------------------------------- 2000 1999 1999 1998 1997 1996 1995 -------- ------- ------- ------- ------- ------- ------- (DOLLARS EXPRESSED IN THOUSANDS) Income before provision for income taxes and minority interest in (income) loss of subsidiary . . . . . . . . . . . . . $ 47,943 35,605 72,151 54,474 50,380 27,837 34,156 Add back: Interest: With deposits . . . . . . . . . . . 88,058 77,116 158,701 162,179 148,831 141,670 144,945 Without deposits . . . . . . . . . 5,026 6,379 13,009 10,124 10,170 16,933 28,883 Rent expense. . . . . . . . . . . . . . 4,900 3,300 7,400 5,300 5,000 4,200 3,200 Earnings base: With deposits . . . . . . . . . . . . . 140,901 116,021 238,252 221,953 204,211 173,707 182,301 Without deposits. . . . . . . . . . . . 57,869 45,284 92,560 69,898 65,550 48,970 66,239 Fixed charges: Including interest on deposits. . . . . 92,958 80,416 166,101 167,479 153,831 145,870 148,145 Excluding interest on deposits. . . . . 9,926 9,679 20,409 15,424 15,170 21,133 32,083 Ratio of earnings to fixed charges: Including interest on deposits. . . . . 1.52x 1.44x 1.43x 1.33x 1.33x 1.19x 1.23x Excluding interest on deposits. . . . . 5.83 4.68 4.54 4.53 4.32 2.32 2.06