EX-12 8 dex12.htm COMPUTATION OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES Computation of Consolidated Ratios of Earnings to Fixed Charges

 

Exhibit (12)

 

Computation of Consolidated Ratios of Earnings to Fixed Charges

 

    

Years ended December 31,

    

2002

   

2001

   

2000

   

1999

   

1998

Excluding interest on deposits

   

4.81x

   

4.15x

   

4.03x

   

5.62x

   

7.19x

Including interest on deposits

   

2.38x

   

1.90x

   

1.76x

   

1.89x

   

1.74x

 

Note:   The ratio of earnings to fixed charges is calculated by adding income before income taxes plus fixed charges and dividing that sum by fixed charges.

 

    

Years ended December 31,

    

2002

   

2001

   

2000

   

1999

   

1998

Income before income taxes

   

$

219,296

   

$

199,355

   

$

192,764

   

$

187,075

   

$

155,685

    
  
  
  
  

Interest on deposits

   

$

101,950

   

$

158,159

   

$

190,626

   

$

169,701

   

$

184,671

Borrowings and long-term debt

   

 

55,773

   

 

60,494

   

 

62,022

   

 

39,091

   

 

23,860

 1/3 of net rental expense

   

 

1,757

   

 

2,722

   

 

1,598

   

 

1,385

   

 

1,288

    
  
  
  
  

Total fixed charges, including interest on deposits

   

$

159,480

   

$

221,375

   

$

254,246

   

$

210,177

   

$

209,819

    
  
  
  
  

Total fixed charges, excluding interest on deposits

   

$

57,530

   

$

63,216

   

$

63,620

   

$

40,476

   

$

25,148