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,
  
   
2013
    
2012
    
2011
    
2010
    
2009
  
   
(Dollars In Thousands)
  
Earnings:
                              
1. Income (loss) before income taxes
  
$
37,132
    
$
61,816
    
$
35,782
    
$
32,759
    
$
98,052
  
2. Plus interest expense
    
19,203
      
28,377
      
35,146
      
47,850
      
66,605
  
                                         
3. Earnings including interest on deposits
    
56,335
      
90,193
      
70,928
      
80,609
      
164,657
  
4. Less interest on deposits
    
12,346
      
20,720
      
26,370
      
38,427
      
54,087
  
                                         
5. Earnings excluding interest on deposits
  
$
43,989
    
$
69,473
    
$
44,558
    
$
42,182
    
$
110,570
  
                                         
Fixed charges and preferred stock dividend requirements (pre-tax):
                                        
6. Including interest on deposits and
capitalized interest
  
$
19,840
    
$
29,149
    
$
39,886
    
$
52,521
    
$
71,659
  
7. Less interest on deposits (Line 4)
    
12,346
      
20,720
      
26,370
      
38,427
      
54,087
  
                                         
8. Excluding interest on deposits
  
$
7,494
    
$
8,429
    
$
13,516
    
$
14,094
    
$
17,572
  
                                         
Ratio of earnings to fixed charges and preferred
stock dividend requirements (pre-tax):
                                        
Including interest on deposits
(Line 3 divided by Line 6)
    
2.84
      
3.09
      
1.78
      
1.53
      
2.30
  
Excluding interest on deposits
(Line 5 divided by Line 8)
    
5.87
      
8.24
      
3.30
      
2.99
      
6.29