EXHIBIT 12

Ratio of Earnings to Fixed Charges

(In Thousands of Dollars)	2013			2012			2011			2010			2009
Fixed charges
Interest expensed and capitalized	$	6,174		$	8,374		$	12,972		$	20,890		$	25,939
Preference dividends
Preferred dividend		389			1,232			1,650			1,650			1,513
Divided by 1 - tax rate		0.66			0.66			0.66			0.66			0.66
Preference dividend cost		589			1,867			2,500			2,500			2,292
Total fixed charges and preferred dividends		6,763			10,241			15,472			23,390			28,231
Less: Interest on deposits		(4,891	)		(6,626	)		(10,891	)		(15,733	)		(18,841	)
Total fixed charges and preferred dividends excluding interest on deposits	$	1,872		$	3,615		$	4,581		$	7,657		$	9,390
Earnings
Pre-tax income	$	17,368		$	14,790		$	7,457		$	5,275		$	3,735
Add: Fixed charges and preferred dividends		6,763			10,241			15,472			23,390			28,231
Total earnings		24,131			25,031			22,929			28,665			31,966
Less: Interest on deposits		(4,891	)		(6,626	)		(10,891	)		(15,733	)		(18,841	)
Total earnings less interest on deposits	$	19,240		$	18,405		$	12,038		$	12,932		$	13,125
Ratio of earnings to fixed charges
Including interest on deposits	3.57x			2.44x			1.48x			1.23x			1.13x
Excluding interest on deposits	10.28x			5.09x			2.63x			1.69x			1.40x