**Exhibit 12.1**

 

Computation of Earnings toFixed Charges and Ratio of Earnings to Combined Fixed Charges and PreferredStock Dividend Requirements.

 

 
|                                                                                                               |   | **Nine Months  Ended  September 30  2002** |                       |    |     |      |     |    |      |    |     |      |   |
|--------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------|----------------------------|---------|----------|-----------|----------|---------|-----------|---------|----------|-----------|--------|
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |
|                                                                                                               |   |                                       | **Year Ended December 31** |    |
| **(dollars in  thousands)**                                                                                        |   |                                       | **2001**                   |    | **2000** |      | **1999** |    | **1998**  |    | **1997** |      |
| a. Ratio of Earnings to Fixed Charges                                                                              |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| **Including Interest on Deposits**                                                                                 |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| **Earnings:**                                                                                                      |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Income from operations before income taxes                                                                         |   | $                                          | 179,983                    |    | $        | 233,747   |     | $       | 1,139,992 |    | $        | 930,762   |   | $ | 490,563 |   | $ | 311,300 |   |
| Fixed charges                                                                                                      |   | 616,409                                    |                       | 960,241 |     | 894,923   |     | 459,549 |      | 254,006 |     | 187,843   |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Earnings, for computation purposes                                                                                 |   | $                                          | 796,392                    |    | $        | 1,193,988 |     | $       | 2,034,915 |    | $        | 1,390,311 |   | $ | 744,569 |   | $ | 499,143 |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| **Fixed Charges:**                                                                                                 |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Interest on borrowings                                                                                             |   | $                                          | 32,338                     |    | $        | 61,332    |     | $       | 61,797    |    | $        | 91,634    |   | $ | 42,931 |   | $ | 18,858 |   |
| Interest on deposits                                                                                               |   | 559,746                                    |                       | 872,977 |     | 812,982   |     | 356,736 |      | 204,335 |     | 164,252   |   |
| Portion of rents representative of the interest factor                                                             |   | 24,325                                     |                       | 25,932  |     | 20,144    |     | 11,179  |      | 6,740   |     | 4,733     |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Fixed charges, including interest on deposits, for computation  purposes                                           |   | $                                          | 616,409                    |    | $        | 960,241   |     | $       | 894,923   |    | $        | 459,549   |   | $ | 254,006 |   | $ | 187,843 |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Ratio of earnings to fixed charges, including interest on deposits                                                 |   | 1.29                                       |                       | 1.24    |     | 2.27      |     | 3.03    |      | 2.93    |     | 2.66      |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| **Excluding Interest on Deposits**                                                                                 |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| **Earnings:**                                                                                                      |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Income from operations before income taxes                                                                         |   | $                                          | 179,983                    |    | $        | 233,747   |     | $       | 1,139,992 |    | $        | 930,762   |   | $ | 490,563 |   | $ | 311,300 |   |
| Fixed charges                                                                                                      |   | 56,663                                     |                       | 87,264  |     | 81,941    |     | 102,813 |      | 49,671  |     | 23,591    |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Earnings, for computation purposes                                                                                 |   | $                                          | 236,646                    |    | $        | 321,011   |     | $       | 1,221,933 |    | $        | 1,033,575 |   | $ | 540,234 |   | $ | 334,891 |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| **Fixed Charges:**                                                                                                 |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Interest on borrowings                                                                                             |   | $                                          | 32,338                     |    | $        | 61,332    |     | $       | 61,797    |    | $        | 91,634    |   | $ | 42,931 |   | $ | 18,858 |   |
| Portion of rents representative of the interest factor                                                             |   | 24,325                                     |                       | 25,932  |     | 20,144    |     | 11,179  |      | 6,740   |     | 4,733     |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Fixed charges, excluding interest on deposits, for computation  purposes                                           |   | $                                          | 56,663                     |    | $        | 87,264    |     | $       | 81,941    |    | $        | 102,813   |   | $ | 49,671 |   | $ | 23,591 |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Ratio of earnings to fixed charges, excluding interest on deposits                                                 |   | 4.18                                       |                       | 3.68    |     | 14.91     |     | 10.05   |      | 10.88   |     | 14.20     |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| b. Ratio of Earnings to Combined Fixed Charges and Preferred Stock  Dividend Requirements(1)                       |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| **Including Interest on Deposits**                                                                                 |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| **Earnings:**                                                                                                      |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Income from operations before income taxes                                                                         |   | $                                          | 179,983                    |    | $        | 233,747   |     | $       | 1,139,992 |    | $        | 930,762   |   | $ | 490,563 |   | $ | 311,300 |   |
| Fixed charges                                                                                                      |   | 616,409                                    |                       | 960,241 |     | 894,923   |     | 459,549 |      | 254,006 |     | 187,843   |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Earnings, for computation purposes                                                                                 |   | $                                          | 796,392                    |    | $        | 1,193,988 |     | $       | 2,034,915 |    | $        | 1,390,311 |   | $ | 744,569 |   | $ | 499,143 |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| **Fixed Charges and Preferred Stock:**                                                                             |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| **Dividend Requirements**                                                                                          |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Interest on borrowings                                                                                             |   | $                                          | 32,338                     |    | $        | 61,332    |     | $       | 61,797    |    | $        | 91,634    |   | $ | 42,931 |   | $ | 18,858 |   |
| Interest on deposits                                                                                               |   | 559,746                                    |                       | 872,977 |     | 812,982   |     | 356,736 |      | 204,335 |     | 164,252   |   |
| Portion of rents representative of the interest factor                                                             |   | 24,325                                     |                       | 25,932  |     | 20,144    |     | 11,179  |      | 6,740   |     | 4,733     |   |
| Fixed charges, including interest on deposits, for computation  purposes                                           |   | $                                          | 616,409                    |    | $        | 960,241   |     | $       | 894,923   |    | $        | 459,549   |   | $ | 254,006 |   | $ | 187,843 |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |   |   |   |   |   |   |
| Preferred stock dividend requirements                                                                              |   | —                                     |                       | —  |     | —    |     | —  |      | —  |     | 1,636     |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Fixed charges and preferred stock dividend requirements, including  interest on deposits, for computation purposes |   | $                                          | 616,409                    |    | $        | 960,241   |     | $       | 894,923   |    | $        | 459,549   |   | $ | 254,006 |   | $ | 189,479 |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Ratio of earnings to fixed charges and preferred stock dividend  requirements, including interest on deposits      |   | 1.29                                       |                       | 1.24    |     | 2.27      |     | 3.03    |      | 2.93    |     | 2.63      |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| **Excluding Interest On Deposits**                                                                                 |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| **Earnings:**                                                                                                      |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Income from operations before income taxes                                                                         |   | $                                          | 179,983                    |    | $        | 233,747   |     | $       | 1,139,992 |    | $        | 930,762   |   | $ | 490,563 |   | $ | 311,300 |   |
| Fixed charges                                                                                                      |   | 56,663                                     |                       | 87,264  |     | 81,941    |     | 102,813 |      | 49,671  |     | 23,591    |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Earnings, for computation purposes                                                                                 |   | $                                          | 236,646                    |    | $        | 321,011   |     | $       | 1,221,933 |    | $        | 1,033,575 |   | $ | 540,234 |   | $ | 334,891 |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| **Fixed Charges and Preferred Stock:**                                                                             |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| **Dividend Requirements**                                                                                          |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Interest on borrowings                                                                                             |   | $                                          | 32,338                     |    | $        | 61,332    |     | $       | 61,797    |    | $        | 91,634    |   | $ | 42,931 |   | $ | 18,858 |   |
| Portion of rents representative of the interest factor                                                             |   | 24,325                                     |                       | 25,932  |     | 20,144    |     | 11,179  |      | 6,740   |     | 4,733     |   |
| Fixed charges, excluding interest on deposits, for computation  purposes                                           |   | $                                          | 56,663                     |    | $        | 87,264    |     | $       | 81,941    |    | $        | 102,813   |   | $ | 49,671 |   | $ | 23,591 |   |
| Preferred stock dividend requirements                                                                              |   | —                                     |                       | —  |     | —    |     | —  |      | —  |     | 1,636     |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Fixed charges and preferred stock dividend requirements, excluding  interest on deposits, for computation purposes |   | $                                          | 56,663                     |    | $        | 87,264    |     | $       | 81,941    |    | $        | 102,813   |   | $ | 49,671 |   | $ | 25,227 |   |
|                                                                                                               |   |                                       |                       |    |     |      |     |    |      |    |     |      |   |
| Ratio of earnings to fixed charges and preferred stock dividend  requirements, excluding interest on deposits      |   | 4.18                                       |                       | 3.68    |     | 14.91     |     | 10.05   |      | 10.88   |     | 13.28     |   |

 

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(1) Preferred stock dividend requirements are adjusted to represent a pretaxearnings equivalent.

 

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