EX-12 4 gsb39472ex12.txt EXHIBIT 12 Exhibit 12 RATIO OF EARNINGS TO FIXED CHARGES
At or For At or For At or For Year Ended Six Months Ended Year Ended December 31, December 31, June 30, --------------------------------------- --------------------------- -------------------------- 2001 2000 1999 1998 1997 1998 1997 --------------------------------------- --------------------------- -------------------------- (Dollars in thousands) Earnings: 1. Income before income taxes $28,233 $23,662 $20,695 $11,216 $10,538 $21,368 $15,091 2. Plus interest expense 45,907 48,861 35,463 16,530 15,601 31,992 28,822 -------- -------- -------- -------- -------- -------- -------- 3. Earnings including interest on deposits 74,140 72,523 56,158 27,746 26,139 53,360 43,913 4. Less interest on deposits 32,405 32,244 24,966 12,255 10,395 20,951 17,951 -------- -------- -------- -------- -------- -------- -------- 5. Earnings excluding interest on deposits $41,735 $40,279 $31,192 $15,491 $15,744 $32,409 $25,962 ======= ======= ======= ======= ======= ======= ======= Fixed Charges: 6. Including interest on deposits and capitalized interest $45,907 $48,861 $35,463 $16,530 $15,601 $31,992 $28,822 7. Less interest on deposits (Line 4) 32,405 32,244 24,966 12,255 10,395 20,951 17,951 -------- -------- -------- -------- -------- -------- -------- 8. Excluding interest on deposits $13,502 $16,617 $10,497 $ 4,275 $ 5,206 $11,041 $10,871 ======= ======= ======= ======== ======== ======= ======= Ratio of earnings to fixed charges: Including interest on deposits (Line 3 divided by Line 6) 1.62 1.48 1.58 1.68 1.68 1.67 1.52 ==== ==== ==== ==== ==== ==== ==== Excluding interest on deposits (Line 5 divided by Line 8) 3.09 2.42 2.97 3.62 3.02 2.94 2.39 ==== ==== ==== ==== ==== ==== ====