EX-12.1 18 w57108ex12-1.txt COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Exhibit 12.1 Banknorth Group, Inc. Computation of Earnings to Fixed Charges ($ in 000's)
Year ended December 31, ---------------------------------------------------------- 2001 2000 1999 1998 1997 -------- ---------- -------- -------- -------- EARNINGS: Earnings before income taxes and extraordinary items $369,184 $ 288,527 $294,307 $214,822 $223,676 Fixed charges excluding interest on deposits 226,483 321,435 245,430 166,877 132,882 -------- ---------- -------- -------- -------- Earnings including fixed charges but excluding interest on deposits 595,667 609,962 539,737 381,699 356,558 Interest on deposits 363,974 411,250 373,256 405,416 370,921 -------- ---------- -------- -------- -------- Earnings including fixed charges and interest on deposits $959,641 $1,021,212 $912,993 $787,115 $727,479 ======== ========== ======== ======== ======== FIXED CHARGES: Interest expense, excluding interest on deposits $219,851 $ 315,413 $239,868 $162,444 $129,215 Interest within rent expense (1/3 rent expense) 6,632 6,022 5,562 4,433 3,667 -------- ---------- -------- -------- -------- Fixed charges excluding interest on deposits 226,483 321,435 245,430 166,877 132,882 Interest on deposits 363,974 411,250 373,256 405,416 370,921 -------- ---------- -------- -------- -------- Fixed charges including interest on deposits $590,457 $ 732,685 $618,686 $572,293 $503,803 ======== ========== ======== ======== ======== RATIO OF EARNINGS TO FIXED CHARGES: Excluding interest expense on deposits 2.63x 1.90x 2.20x 2.29x 2.68x Including interest expense on deposits 1.63x 1.39x 1.48x 1.38x 1.44x