Exhibit 12

RATIO OF EARNINGS TO FIXED CHARGES

	At or For Year Ended  December 31,
	2008			2007		2006		2005		2004
	(Dollars in thousands)
Earnings:
1. Income (loss) before income taxes	$	(8,179	)	$	43,642	$	44,602	$	31,734	$	39,074
2. Plus interest expense		73,231			92,466		80,854		56,097		37,233
3. Earnings including interest on deposits		65,052			136,108		125,456		87,831		76,307
4. Less interest on deposits		60,876			76,232		65,733		42,269		28,952
5. Earnings excluding interest on deposits	$	4,176		$	59,876	$	59,723	$	45,562	$	47,355
Fixed Charges:
6. Including interest on deposits and       capitalized interest	$	73,231		$	92,466	$	80,854	$	56,097	$	37,233
7. Less interest on deposits (Line 4)		60,876			76,232		65,733		42,269		28,952
8. Excluding interest on deposits	$	12,355		$	16,234	$	15,121	$	13,828	$	8,281
Ratio of earnings to fixed charges:
Including interest on deposits       (Line 3 divided by Line 6)		0.89			1.47		1.55		1.57		2.05
Excluding interest on deposits       (Line 5 divided by Line 8)		0.34			3.69		3.95		3.29		5.72