BancWest Corporation and Subsidiaries
PART IV

Exhibit 12. Computation of Ratios

BancWest Corporation and Subsidiaries

Computation of Consolidated Ratios of Earnings to Fixed Charges

	Year Ended December 31,
(dollars in thousands)	2004		2003		2002		2001		2000
Income before income taxes	$	772,070	$	711,632	$	595,326	$	426,116	$	368,621
Fixed charges (1):
Interest expense		442,825		385,207		465,330		507,135		562,922
Rental expense		16,884		18,353		21,332		15,531		15,290
		459,709		403,560		486,662		522,666		578,212
Less interest on deposits		203,407		180,232		281,466		393,263		458,204
Net fixed charges		256,302		223,328		205,196		129,403		120,008
Earnings, excluding interest on deposits	$	1,028,372	$	934,960	$	800,522	$	555,519	$	488,629
Earnings, including interest on deposits	$	1,231,779	$	1,115,192	$	1,081,988	$	948,782	$	946,833
Ratio of earnings to fixed charges:
Excluding interest on deposits		4.01x		4.19x		3.90x		4.29x		4.07x
Including interest on deposits		2.68x		2.76x		2.22x		1.82x		1.64x

⁽¹⁾ For purposes of computing the consolidated ratios of earnings to fixed charges, earnings represent income before income taxes and fixed charges. Fixed charges, excluding interest on deposits, include interest (other than on deposits), whether expensed or capitalized, and that portion of rental expense (generally one third) deemed representative of the interest factor. Fixed charges, including interest on deposits, consist of the foregoing items plus interest on deposits.

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