EXHIBIT 12

Ratio of Earnings to Fixed Charges

(In Thousands of Dollars)	2012			2011			2010			2009			2008
Fixed charges
Interest expensed and capitalized	$	8,374		$	12,972		$	20,890		$	25,939		$	35,353
Preference dividends
Preferred dividend		1,232			1,650			1,650			1,513			0
Divided by 1 - tax rate		0.66			0.66			0.66			0.66			0.66
Preference dividend cost		1,867			2,500			2,500			2,292			0
Total fixed charges and preferred dividends		10,241			15,472			23,390			28,231			35,353
Less: Interest on deposits		(6,626	)		(10,891	)		(15,733	)		(18,841	)		(25,468	)
Total fixed charges and preferred dividends excluding interest on deposits	$	3,615		$	4,581		$	7,657		$	9,390		$	9,885
Earnings
Pre-tax income	$	14,790		$	7,457		$	5,275		$	3,735		$	(343	)
Add: Fixed charges and preferred dividends		10,241			15,472			23,390			28,231			35,353
Total earnings		25,031			22,929			28,665			31,966			35,010
Less: Interest on deposits		(6,626	)		(10,891	)		(15,733	)		(18,841	)		(25,468	)
Total earnings less interest on deposits	$	18,405		$	12,038		$	12,932		$	13,125		$	9,542
Ratio of earnings to fixed charges
Including interest on deposits		2.44	x		1.48	x		1.23	x		1.13	x		0.99	x
Excluding interest on deposits		5.09	x		2.63	x		1.69	x		1.40	x		0.97	x