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,
  
   
2012
    
2011
    
2010
    
2009
    
2008
  
   
(Dollars In Thousands)
  
Earnings:
                              
1. Income (loss) before income taxes
  
$
61,816
    
$
35,782
    
$
32,759
    
$
98,052
    
$
   (8,179
)
2. Plus interest expense
    
28,377
      
35,146
      
47,850
      
66,605
      
  73,231
  
                                         
3. Earnings including interest on deposits
    
90,193
      
70,928
      
80,609
      
164,657
      
65,052
  
4. Less interest on deposits
    
20,720
      
26,370
      
38,427
      
54,087
      
60,876
  
                                         
5. Earnings excluding interest on deposits
  
$
69,473
    
$
44,558
    
$
42,182
    
$
110,570
    
$
4,176
  
                                         
Fixed charges and preferred stock dividend
    requirements (pre-tax):
                                        
6. Including interest on deposits and
capitalized interest
  
$
29,149
    
$
39,886
    
$
52,521
    
$
71,659
    
$
73,678
  
7. Less interest on deposits (Line 4)
    
20,720
      
26,370
      
38,427
      
54,087
      
60,876
  
                                         
8. Excluding interest on deposits
  
$
8,429
    
$
13,516
    
$
14,094
    
$
17,572
    
$
12,802
  
                                         
Ratio of earnings to fixed charges and preferred
    stock dividend requirements (pre-tax):
                                        
Including interest on deposits
(Line 3 divided by Line 6)
    
3.09
      
1.78
      
1.53
      
2.30
      
0.88
  
Excluding interest on deposits
(Line 5 divided by Line 8)
    
8.24
      
3.30
      
2.99
      
6.29
      
0.33