EX-12 6 dex12.htm COMPUTATION OF CONSOLIDATION RATIOS OF EARNING TO FIXED CHARGES Computation of Consolidation Ratios of Earning to Fixed Charges

EXHIBIT (12)

 

Computation of Consolidated Ratios of Earnings to Fixed Charges.

 

     Years ended December 31,
  
     2003
     2002
     2001
     2000
     1999
  

Excluding interest on deposits

    3.91 x   3.99 x   4.04 x   4.03 x   5.62 x

Including interest on deposits

    2.54 x   2.25 x   1.89 x   1.76 x   1.89 x

 

Note:   The ratio of earnings to fixed charges is calculated by adding income before income taxes plus fixed charges and dividing that sum by fixed charges.

 

     Years ended December 31,
     2003
    2002
    2001
    2000
    1999

Income before income taxes

    $ 233,150    $ 219,296    $ 199,355    $ 192,764    $ 187,075
    
  
  
  
  

Interest on deposits

    $ 70,966    $ 101,950    $ 158,159    $ 190,626    $ 169,701

Borrowings and long-term debt

      77,956      71,503      62,776      62,022      39,091

1/3 of net rental expense

      2,183      1,757      2,722      1,598      1,385
    
  
  
  
  

Total fixed charges, including interest on deposits

    $ 151,105    $ 175,210    $ 223,657    $ 254,246    $ 210,177
    
  
  
  
  

Total fixed charges, excluding interest on deposits

    $ 80,139    $ 73,260    $ 65,498    $ 63,620    $ 40,476