EX-12 3 dex12.htm COMPUTATION OF RATIOS EARNINGS TO FIXED CHARGES Computation of Ratios Earnings to Fixed Charges

Exhibit 12

 

CONSOLIDATED EARNINGS RATIOS

 

The following table provides BancGroup’s consolidated ratios of earnings to fixed charges:

 

Computation of Ratios of Earnings to Fixed Charges

 

           Year ended December 31,
  
     Nine Months ended
September 30, 2004
     2003
     2002
     2001
     2000
     1999
  
           (In thousands)  

Income before Income Taxes

    $ 194,123     $ 227,163     $ 214,743     $ 191,897     $ 189,741     $ 187,396  

Fixed charges:

                                                 

Interest Expense

      187,294       274,165       322,261       480,240       517,754       384,891  

 1/3 Rent Expense

      7,298       9,402       7,511       6,222       5,661       4,943  
    
 
 
 
 
 

Total Fixed Charges

      194,592       283,567       329,772       486,462       523,415       389,834  

Adjusted Earnings

    $ 388,715     $ 510,730     $ 544,515     $ 678,359     $ 713,156     $ 577,230  

Ratio of Earnings to Fixed Charges

      2.00 x     1.80 x     1.65 x     1.39 x     1.36 x     1.48 x

Interest on Deposits

    $ 101,693     $ 139,695     $ 185,520     $ 323,499     $ 359,460     $ 279,166  

Ratio of Earnings to Fixed Charges excluding interest on deposits

      3.09 x     2.58 x     2.49 x     2.18 x     2.16 x     2.69 x