GOLDEN STATE HOLDINGS INC. AND SUBSIDIARIES
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND MINORITY INTEREST
Years Ended December 31,
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2001 2000 1999
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Fixed charges (excluding interest on deposits):
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Interest on borrowings $1,775,498 $2,029,598 $1,578,096
Total fixed charges (excluding interest on deposits) 1,775,498 2,029,598 1,578,096
Rent interest factor 13,256 12,870 12,830
Income before income taxes, minority interest, extraordinary item
and cumulative effect of change in accounting principle 759,669 692,959 686,783
Earnings 2,548,423 2,735,427 2,277,709
Fixed charges (excluding interest on deposits) 1,788,754 2,042,468 1,590,926
Minority interest 26,988 26,987 113,941
Combined fixed charges (excluding interest on deposits) and minority interest 1,815,742 2,069,455 1,704,867
Ratio of earnings to combined fixed charges (excluding interest on deposits)
and minority interest 1.40 x 1.32 x 1.34 x
Fixed charges (including interest on deposits):
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Interest on deposits $ 831,538 $ 928,407 $ 888,286
Interest on borrowings 1,775,498 2,029,598 1,578,096
Total fixed charges (including interest on deposits) 2,607,036 2,958,005 2,466,382
Rent interest factor 13,256 12,870 12,830
Income before income taxes, minority interest, extraordinary item
and cumulative effect of change in accounting principle 759,669 692,959 686,783
Earnings 3,379,961 3,663,834 3,165,995
Fixed charges (including interest on deposits) 2,620,292 2,970,875 2,479,212
Minority interest 26,988 26,987 113,941
Combined fixed charges (including interest on deposits) and
minority interest 2,647,280 2,997,862 2,593,153
Ratio of earnings to combined fixed charges (including interest on deposits)
and minority interest 1.28 x 1.22 x 1.22 x
(Continued)
Years Ended December 31,
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1998 1997
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Fixed charges (excluding interest on deposits):
- ----------------------------------------------
Interest on borrowings $ 983,013 $ 693,819
Total fixed charges (excluding interest on deposits) 983,013 693,819
Rent interest factor 9,060 7,857
Income before income taxes, minority interest, extraordinary item
and cumulative effect of change in accounting principle 450,357 297,861
Earnings 1,442,430 999,537
Fixed charges (excluding interest on deposits) 992,073 701,676
Minority interest 110,527 102,135
Combined fixed charges (excluding interest on deposits) and minority interest 1,102,600 803,811
Ratio of earnings to combined fixed charges (excluding interest on deposits)
and minority interest 1.31 x 1.24 x
Fixed charges (including interest on deposits):
- ----------------------------------------------
Interest on deposits $ 791,112 $ 746,985
Interest on borrowings 983,013 693,819
Total fixed charges (including interest on deposits) 1,774,125 1,440,804
Rent interest factor 9,060 7,857
Income before income taxes, minority interest, extraordinary item
and cumulative effect of change in accounting principle 450,357 297,861
Earnings 2,233,542 1,746,522
Fixed charges (including interest on deposits) 1,783,185 1,448,661
Minority interest 110,527 102,135
Combined fixed charges (including interest on deposits) and
minority interest 1,893,712 1,550,796
Ratio of earnings to combined fixed charges (including interest on deposits)
and minority interest 1.18 x 1.13 x