EX-12 4 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,
     2004
      2003
      2002
      2001
      2000

Excluding interest on deposits

    3.90x      3.91x      3.99x      4.04x      4.03x

Including interest on deposits

    2.54x      2.54x      2.25x      1.89x      1.76x

 

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,
     2004
      2003
      2002
      2001
      2000

Income before income taxes

    $ 228,595      $ 233,150      $ 219,296      $ 199,355      $ 192,764
    
    
    
    
    

Interest on deposits

    $ 69,947      $ 70,966      $ 101,950      $ 158,159      $ 190,626

Borrowings and long-term debt

      76,660        77,956        71,503        62,776        62,022

 1/3 of net rental expense

      2,140        2,183        1,757        2,722        1,598
    
    
    
    
    

Total fixed charges, including interest on deposits

    $ 148,747      $ 151,105      $ 175,210      $ 223,657      $ 254,246
    
    
    
    
    

Total fixed charges, excluding interest on deposits

    $ 78,800      $ 80,139      $ 73,260      $ 65,498      $ 63,620