Exhibit 12

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES

AND PREFERRED STOCK DIVIDENDS

		Three Months				Six Months
		Ended June 30,				Ended June 30,
		2003		2002		2003		2002
Income before federal income taxes		$	1,102	$	1,464	$	3,042	$	2,672
Add:
	Provision for federal income taxes		263		485		970		848
	Interest expense on all indebtedness		9,091		10,214		18,619		20,360
Earnings, as adjusted		$	10,456	$	12,163	$	22,631	$	23,880
Fixed charges:
	Interest expense on all indebtedness	$	9,091	$	10,214	$	18,619	$	20,360
	Preferred stock dividends		34		24		64		57
Fixed charges including preferred stock dividends		$	9,125	$	10,238	$	18,683	$	20,417
Ratio of earnings to combined fixed charges and preferred dividends			1.15:1		1.19:1		1.21:1		1.17:1