EX-12 4 ex-12.htm ex-12.htm
Exhibit 12

RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDEND REQUIREMENT

   
For Year Ended
December 31,
  
   
2011
    
2010
    
2009
    
2008
    
2007
  
   
(Dollars In Thousands)
  
Earnings:
                              
1. Income (loss) before income taxes
  
$
35,782
    
$
32,759
    
$
98,052
    
$
(8,179
)
  
$
43,642
  
2. Plus interest expense
    
35,146
      
47,850
      
66,605
      
73,231
      
92,466
  
                                         
3. Earnings including interest on deposits
    
70,928
      
80,609
      
164,657
      
65,052
      
136,108
  
4. Less interest on deposits
    
26,370
      
38,427
      
54,087
      
60,876
      
76,232
  
                                         
5. Earnings excluding interest on deposits
  
$
44,558
    
$
42,182
    
$
110,570
    
$
4,176
    
$
59,876
  
                                         
Fixed charges and preferred stock dividend requirements (pre-tax):
                                        
6. Including interest on deposits and
capitalized interest
  
$
39,886
    
$
52,521
    
$
71,659
    
$
73,678
    
$
92,466
  
7. Less interest on deposits (Line 4)
    
26,370
      
38,427
      
54,087
      
60,876
      
76,232
  
                                         
8. Excluding interest on deposits
  
$
13,516
    
$
14,094
    
$
17,572
    
$
12,802
    
$
16,234
  
                                         
Ratio of earnings to fixed charges and preferred stock dividend requirements (pre-tax):
                                        
Including interest on deposits
(Line 3 divided by Line 6)
    
1.78
      
1.53
      
2.30
      
0.88
      
1.47
  
Excluding interest on deposits
(Line 5 divided by Line 8)
    
3.30
      
2.99
      
6.29
      
0.33
      
3.69