EX-12.1 7 g81269exv12w1.txt EX-12.1 STATEMENT RE: COMPUTATION OF RATIOS . . . EXHIBIT 12.1 RATIO OF EARNINGS TO FIXED CHARGES
At or for the Year Ended December 31, 2002 2001 2000 1999 1998 ------- ------- ------- ------- ------- Earnings: Pretax income from operations 93,448 76,019 89,120 87,218 80,326 Less: Income from equity investment (904) (1,249) (727) (1,416) (1,286) Dividends from equity investment 701 642 814 939 812 Fixed charges 145,931 200,642 211,766 169,060 171,017 Less: Preferred dividend requirements (372) (451) (525) (632) (757) ------- ------- ------- ------- ------- Total earnings including interest expense on deposits 238,804 275,603 300,448 255,169 250,112 ======= ======= ======= ======= ======= Total earnings excluding interest expense on deposits 124,700 108,495 126,423 113,362 98,447 ======= ======= ======= ======= ====== Fixed Charges: Interest expense: Deposits 114,104 167,108 174,025 141,807 151,665 Short-term borrowings 10,878 15,026 21,072 14,905 9,800 Long-term debt 20,689 18,166 16,284 12,058 9,192 ------- ------- ------- ------- ------- Total interest expense 145,671 200,300 211,381 168,770 170,657 Estimate of interest within rental expense 260 342 385 290 360 ------- ------- ------- ------- ------- Total fixed charges including expense on deposits 145,931 200,642 211,766 169,060 171,017 ======= ======= ======= ======= ======= Total fixed charges excluding expense on deposits 31,827 33,534 37,741 27,253 19,352 ======= ======= ======= ======= ====== Ratio of Earnings to Fixed Charges: Including interest expense on deposits 1.64 1.37 1.42 1.51 1.46 ======= ======= ======= ======= ====== Excluding interest expense on deposits 3.92 3.24 3.35 4.16 5.09 ======= ======= ======= ======= ======