exv12w1

Exhibit 12.1
(Form 10-K)

Consolidated Ratio of Earnings to Combined Fixed Charges and Preferred Dividends


	2009			2008			2007		2006		2005
(Loss) income before income tax	$	(544,187	)	$	(322,082	)	$	132,147	$	82,655	$	112,106
Preferred stock dividend		(13,875	)		—			—		—		—

(Loss) income available to common shareholders, before income tax		(558,062	)		(322,082	)		132,147		82,655		112,106

Fixed charges:
Interest on short-term borrowings		227			8,191			34,700		16,017		25,929
Interest on long-term debt		91,286			122,905			133,838		46,083		36,417
Estimated interest component of net rental expense		1,832			1,992			2,258		1,120		1,196
Preferred stock dividend requirements		13,875			—			—		—		—

Combined fixed charges and preferred stock dividends, excluding interest on deposits		107,220			133,088			170,796		63,220		63,542

Interest on deposits		159,798			220,883			257,194		147,132		85,154

Combined fixed charges and preferred stock dividends, including interest on deposits	$	267,018		$	353,971		$	427,990	$	210,352	$	148,696


Ratio of earnings to combined fixed charges and preferred stock dividend requirements:
Excluding interest on deposits		—	⁽¹⁾		—	⁽¹⁾		1.77		2.31		2.76
Including interest on deposits		—	⁽¹⁾		0.09	⁽¹⁾		1.31		1.39		1.75


⁽¹⁾		For the years ended December 31, 2009 and 2008, earnings were insufficient to cover fixed charges by $558.1 million and $332.1 million, respectively.