EX-12 4 ex12.htm ex12.htm
Exhibit 12

 
RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDEND REQUIREMENT

   
For Year Ended
December 31,
  
   
2009
    
2008
    
2007
    
2006
    
2005
  
   
(Dollars in thousands)
  
Earnings:
                              
1. Income (loss) before income taxes
  
$
98,052
    
$
(8,179
)
  
$
43,642
    
$
44,602
    
$
31,734
  
2. Plus interest expense
    
66,605
      
73,231
      
92,466
      
80,854
      
56,097
  
                                         
3. Earnings including interest on deposits
    
164,657
      
65,052
      
136,108
      
125,456
      
87,831
  
4. Less interest on deposits
    
54,087
      
60,876
      
76,232
      
65,733
      
42,269
  
                                         
5. Earnings excluding interest on deposits
  
$
110,570
    
$
4,176
    
$
59,876
    
$
59,723
    
$
45,562
  
                                         
Fixed charges and preferred stock dividend
requirements (pre-tax):
                                        
6. Including interest on deposits and
capitalized interest
  
$
71,659
    
$
73,678
    
$
92,466
    
$
80,854
    
$
56,097
  
7. Less interest on deposits (Line 4)
    
54,087
      
60,876
      
76,232
      
65,733
      
42,269
  
                                         
8. Excluding interest on deposits
  
$
17,572
    
$
12,802
    
$
16,234
    
$
15,121
    
$
13,828
  
                                         
Ratio of earnings to fixed charges and preferred stock dividend requirements (pre-tax):
                                        
Including interest on deposits
(Line 3 divided by Line 6)
    
2.30
      
0.88
      
1.47
      
1.55
      
1.57
  
Excluding interest on deposits
(Line 5 divided by Line 8)
    
6.29
      
0.33
      
3.69
      
3.95
      
3.29