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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2000 1999 1998 1997 1996
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FIXED CHARGES (EXCLUDING INTEREST ON DEPOSITS):
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Interest on borrowings $2,029,598 $1,578,096 $ 983,013 $693,819 $388,626
Total fixed charges (excluding interest on deposits) 2,029,598 1,578,096 983,013 693,819 388,626
Rent interest factor 12,870 12,830 9,060 7,857 5,044
Income before income taxes, minority interest and
and extraordinary item 692,959 686,783 450,357 297,861 549,208
Earnings 2,735,427 2,277,709 1,442,430 999,537 942,878
Fixed charges (excluding interest on deposits) 2,042,468 1,590,926 992,073 701,676 393,670
Minority interest and preferred stock dividends 26,987 113,941 110,527 102,135 48,045
Combined fixed charges excluding interest on deposits,
minority interest and preferred stock dividends 2,069,455 1,704,867 1,102,600 803,811 441,715
Ratio of earnings to combined fixed charges (excluding
interest on deposits), minority interest and
preferred stock dividends 1.32x 1.34x 1.31x 1.24x 2.13x
FIXED CHARGES (INCLUDING INTEREST ON DEPOSITS):
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Interest on deposits $ 928,407 $ 888,286 $ 791,112 $746,985 $419,174
Interest on borrowings 2,029,598 1,578,096 983,013 693,819 388,626
Total fixed charges (including interest on deposits) 2,958,005 2,466,382 1,774,125 1,440,804 807,800
Rent interest factor 12,870 12,830 9,060 7,857 5,044
Income before income taxes, minority interest and
extraordinary item 692,959 686,783 450,357 297,861 549,208
Earnings 3,663,834 3,165,995 2,233,542 1,746,522 1,362,052
Fixed charges (including interest on deposits) 2,970,875 2,479,212 1,783,185 1,448,661 812,844
Minority interest and preferred stock dividends 26,987 113,941 110,527 102,135 48,045
Combined fixed charges (including interest on deposits),
minority interest and preferred stock dividends 2,997,862 2,593,153 1,893,712 1,550,796 860,889
Ratio of earnings to combined fixed chares (including
interest on deposits), minority interest and
preferred stock dividends 1.22x 1.22x 1.18x 1.13x 1.58x