EX-12 6 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,
     2009    2008    2007    2006    2005

Excluding interest on deposits

    1.99x    1.72x    2.50x    2.56x    3.17x

Including interest on deposits

    1.58x    1.35x    1.59x    1.64x    2.00x

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,
     2009    2008    2007    2006    2005

Income before income taxes

    $ 167,545    $ 110,525    $ 204,926    $ 203,575    $ 230,227
                                  

Interest on deposits

    $ 118,297    $ 163,113    $ 210,369    $ 188,476    $ 123,057

Borrowings and long-term debt

      144,573      145,782      132,953      127,774      103,602

Preferred security dividend

      19,524      2,090      —        —        —  

 1/3 of net rental expense

      5,883      5,194      4,031      3,012      2,652
                                  

Total fixed charges, including interest on deposits

    $ 288,277    $ 316,179    $ 347,353    $ 319,262    $ 229,311
                                  

Total fixed charges, excluding interest on deposits

    $ 169,980    $ 153,066    $ 136,984    $ 130,786    $ 106,254