EX-12 11 a2078374zex-12.txt EX 12 Coastal Bancorp, Inc. EXHIBIT 12 Ratios of Earnings to Combined Fixed Charges and Preferred Stock Dividends
Three months ended March 31, Years ended December 31, ---------------------------- ----------------------------------------------------- 2002 2001 2001 2000 1999 1998 1997 ------------ ------------- ---------- --------- --------- --------- --------- Income before provision for Federal income taxes, minority interest and cumulative effect of accounting change 6,078 8,545 35,361 32,407 19,273 22,799 21,973 Cumulative effect of accounting change - (160) (180) - - - - ----------- ------------- ---------- -------- --------- --------- --------- Income before provision for Federal income taxes and minority interest 6,078 8,385 35,201 32,407 19,273 22,799 21,973 Fixed charges: Interest expense on deposits 11,041 19,921 69,828 73,216 64,701 66,128 62,912 Other interest expense 5,646 17,939 54,187 79,689 60,956 77,276 81,511 One third of net rental expense 275 262 1,095 1,035 991 889 763 Preferred stock dividends 1,274 1,274 5,096 5,096 4,172 2,588 2,588 ----------- ------------- ---------- -------- --------- --------- --------- Fixed charges and preferred stock dividends including interest on deposits 18,236 39,396 130,206 159,036 130,820 146,881 147,774 Total earnings including interest on deposits 23,040 46,507 160,311 186,347 145,921 167,092 167,159 Total earnings excluding interest on deposits 11,999 26,586 90,483 113,131 81,220 100,964 104,247 Fixed charges and preferred stock dividends excluding interest on deposits 7,195 19,475 60,378 85,820 66,119 80,753 84,862 Ratios of earnings to combined fixed charges and preferred stock dividends: Including interest on deposits 1.26 1.18 1.23 1.17 1.11 1.14 1.13 Excluding interest on deposits 1.67 1.36 1.50 1.32 1.23 1.25 1.23