Exhibit 12.1

Greater Bay Bancorp Annual Report of Form 10-K

Statements re Computation of Ratios of Earnings to Fixed Charges

	For the Years Ended December 31,
	2002		2001		2000		1999		1998
Income before income taxes	$	196,327	$	106,284	$	110,829	$	77,762	$	64,431
Fixed charges:
Interest expense		159,418		199,956		165,892		110,710		90,219
Interest factor of rental expense		6,081		3,733		2,778		2,493		1,978
Fixed charges		165,499		203,689		168,670		113,203		92,197
Less: interest expense on deposits		82,747		132,655		146,269		98,588		78,525
Net fixed charges		82,752		71,034		22,401		14,615		13,672
Earnings, excluding interest on deposits	$	279,079	$	177,318	$	133,230	$	92,377	$	78,103
Ratio of earnings, excluding interest on deposits, to net fixed charges(1)		3.37 x		2.50 x		5.95 x		6.32 x		5.71 x
Earnings, including interest on deposits	$	196,327	$	106,284	$	110,829	$	77,762	$	64,431
Ratio of earnings, including interest on deposits, to fixed charges(2)		2.19 x		1.52 x		1.66 x		1.69 x		1.70 x

(1) For the purposes of computing the ratio of earnings, excluding interest on deposits, to net fixed charges, earnings represent income before income taxes plus net fixed charges. Net fixed charges include interest expense, other than interest on deposits, and that portion of rental expense, generally one third, deemed representative of the interest factor.

(2) For the purposes of computing the ratio of earnings, including interest on deposits, to fixed charges, earnings represent income before income taxes plus fixed charges. Fixed charges include interest expense and that portion of rental expense, generally one third, deemed representative of the interest factor.