EX-12 7 exhibit12.txt Exhibit 12
Matrix Bancorp, Inc. Computation of Ratio of Earnings to Fixed Charges (Unaudited) (Dollars in thousands) Year Ended December 31, 2003 2002 2001 2000 1999 ----------- ------------ ------------ ------------ ------------ A. Matrix Bancorp, Inc. and subsidiaries (consolidated) Earnings: 1. Income (loss) before income taxes .. $ (3,572) $ (17,025) $ 5 $ 10,038 $ 18,023 2. Plus interest expense (A) .......... 33,098 42,306 65,884 68,089 44,279 ----------- ------------ ------------ ------------ ------------ 3. Earnings including interest on deposits 29,526 25,281 65,889 78,127 62,302 4. Less interest on deposits........... 13,339 21,496 34,872 26,275 21,589 ----------- ------------ ------------ ------------ ------------ 5. Earnings excluding interest on deposits $ 16,187 $ 3,785 $ 31,017 $ 51,852 $ 40,713 =========== ============ ============ ============ ============ Fixed Charges: 6. Including interest on deposits excluding capitalized interest $ 33,098 $ 42,306 $ 66,119 $ 68,218 $ 44,279 7. Less interest on deposits (Line 4) . 13,339 21,496 34,872 26,275 21,589 ----------- ------------ ------------ ------------ ------------ 8. Excluding interest on deposits ..... $ 19,759 $ 20,810 $ 31,247 $ 41,943 $ 22,690 =========== ============ ============ ============ ============ Ratio of Earnings to Fixed Charges: Including interest on deposits (Line 3 divided by Line 6) ....... 0.89x 0.60x 1.00x 1.15x 1.41x Excluding interest on deposits (Line 5 divided by Line 8) ....... 0.82x 0.18x 1.00x 1.24x 1.79x ___________ (A) Includes amounts representing the estimated interest component of net rental payments.