EX-12.1 5 dex121.txt COMPUTATION OF RATIO OF EARNINGS Exhibit 12. 1 Statement Re Computation of Ratio of Earnings to Fixed Charges
Six months ended June 30, Year ended December 31, ---------------------- ----------------------------------------------------- 2001 2000 2000 1999 1998 1997 1996 ---- ---- ---- ---- ---- ---- ---- (thousands) Net income $ 44,863 $ 40,968 $ 98,311 $ 81,800 $ 71,009 $ 70,558 $ 65,467 Income taxes 26,568 25,117 58,949 48,596 39,732 39,492 36,207 ------------------------------------------------------------------------------ Income before taxes $ 71,431 $ 66,085 $157,260 $130,396 $110,741 $110,050 $101,674 ============================================================================== Fixed charges - total $ 187,915 $154,565 $342,828 $281,542 $292,071 $268,013 $248,250 Less deposit interest expense 167,898 134,470 298,956 244,921 255,517 243,749 230,905 ------------------------------------------------------------------------------ Fixed charges - excluding deposit interest $ 20,017 $ 20,095 $ 43,872 $ 36,621 $ 36,554 $ 24,264 $ 17,345 ============================================================================== Ratio calculation: Income before taxes $ 71,431 $ 66,085 $157,260 $130,396 $110,741 $110,050 $101,674 Fixed charges - excluding deposit interest 20,017 20,095 43,872 36,621 36,554 24,264 17,345 ------------------------------------------------------------------------------ Earnings $ 91,448 $ 86,180 $201,132 $167,017 $147,295 $134,314 $119,019 ------------------------------------------------------------------------------ Fixed charges - excluding deposit interest $ 20,017 $ 20,095 $ 43,872 $ 36,621 $ 36,554 $ 24,264 $ 17,345 Ratio of earnings to fixed charges excluding deposit interest 4.57 4.29 4.58 4.56 4.03 5.54 6.86 Income before taxes $ 71,431 $ 66,085 $157,260 $130,396 $110,741 $110,050 $101,674 Fixed charges - total 187,915 154,565 342,828 281,542 292,071 268,013 248,250 ------------------------------------------------------------------------------ Earnings $ 259,346 $220,650 $500,088 $411,938 $402,812 $378,063 $349,924 ------------------------------------------------------------------------------ Fixed charges - total $ 187,915 $154,565 # $342,828 $281,542 $292,071 $268,013 $248,250 Ratio of earnings to fixed charges including deposit interest 1.38 1.43 1.46 1.46 1.38 1.41 1.41