**Exhibit 12.1**

 

Computation of Earnings to Fixed Charges andRatio of Earnings to Combined Fixed Charges and Preferred Stock DividendRequirements.

 
|                                                                                                                |   | **Three  Months  Ended  March 31,** |    | **Year Ended  December 31,** |   |
|---------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------|---------|------------------------------|--------|
| **(dollars in  thousands)**                                                                                         |   | **2002**                            |    | **2001**                     |   | **2000** |   | **1999** |   | **1998** |   | **1997** |   |
| a. Ratio of Earnings to  Fixed Charges                                                                              |   |                                |    |                         |   |   |   |   |   |   |   |   |   |
| **Including  Interest on Deposits**                                                                                 |   |                                |    |                         |   |   |   |   |   |   |   |   |   |
| **Earnings:**                                                                                                       |   |                                |    |                         |   |   |   |   |   |   |   |   |   |
| Income from operations  before income taxes                                                                         |   | $                                   | 11,297  |                         | $      | 233,747 |   | $ | 1,139,992 |   | $ | 930,762 |   | $ | 490,563 |   | $ | 311,300 |   |
| Fixed charges                                                                                                       |   | 213,057                             |    | 960,241                      |   | 894,923 |   | 459,549 |   | 254,006 |   | 187,843 |   |
| Earnings, for computation  purposes                                                                                 |   | $                                   | 224,354 |                         | $      | 1,193,988 |   | $ | 2,034,915 |   | $ | 1,390,311 |   | $ | 744,569 |   | $ | 499,143 |   |
|                                                                                                                |   |                                |    |                         |   |   |   |   |   |   |   |   |   |
| **Fixed  Charges:**                                                                                                 |   |                                |    |                         |   |   |   |   |   |   |   |   |   |
| Interest on borrowings                                                                                              |   | $                                   | 11,752  |                         | $      | 61,332 |   | $ | 61,797 |   | $ | 91,634 |   | $ | 42,931 |   | $ | 18,858 |   |
| Interest on deposits                                                                                                |   | 195,303                             |    | 872,977                      |   | 812,982 |   | 356,736 |   | 204,335 |   | 164,252 |   |
| Portion of rents  representative of the interest factor                                                             |   | 6,002                               |    | 25,932                       |   | 20,144 |   | 11,179 |   | 6,740 |   | 4,733 |   |
| Fixed charges, including  interest on deposits, for computation purposes                                            |   | $                                   | 213,057 |                         | $      | 960,241 |   | $ | 894,923 |   | $ | 459,549 |   | $ | 254,006 |   | $ | 187,843 |   |
| Ratio of earnings to fixed  charges, including interest on deposits                                                 |   | 1.05                                |    | 1.24                         |   | 2.27 |   | 3.03 |   | 2.93 |   | 2.66 |   |
|                                                                                                                |   |                                |    |                         |   |   |   |   |   |   |   |   |   |
| **Excluding  Interest on Deposits**                                                                                 |   |                                |    |                         |   |   |   |   |   |   |   |   |   |
| **Earnings:**                                                                                                       |   |                                |    |                         |   |   |   |   |   |   |   |   |   |
| Income from operations  before income taxes                                                                         |   | $                                   | 11,297  |                         | $      | 233,747 |   | $ | 1,139,992 |   | $ | 930,762 |   | $ | 490,563 |   | $ | 311,300 |   |
| Fixed charges                                                                                                       |   | 17,754                              |    | 87,264                       |   | 81,941 |   | 102,813 |   | 49,671 |   | 23,591 |   |
| Earnings, for computation  purposes                                                                                 |   | $                                   | 29,051  |                         | $      | 321,011 |   | $ | 1,221,933 |   | $ | 1,033,575 |   | $ | 540,234 |   | $ | 334,891 |   |
| **Fixed  Charges:**                                                                                                 |   |                                |    |                         |   |   |   |   |   |   |   |   |   |
| Interest on borrowings                                                                                              |   | $                                   | 11,752  |                         | $      | 61,332 |   | $ | 61,797 |   | $ | 91,634 |   | $ | 42,931 |   | $ | 18,858 |   |
| Portion of rents  representative of the interest factor                                                             |   | 6,002                               |    | 25,932                       |   | 20,144 |   | 11,179 |   | 6,740 |   | 4,733 |   |
| Fixed charges, excluding  interest on deposits, for computation purposes                                            |   | $                                   | 17,754  |                         | $      | 87,264 |   | $ | 81,941 |   | $ | 102,813 |   | $ | 49,671 |   | $ | 23,591 |   |
|                                                                                                                |   |                                |    |                         |   |   |   |   |   |   |   |   |   |
| Ratio of earnings to fixed  charges, excluding interest on deposits                                                 |   | 1.64                                |    | 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                                                                         |   | $                                   | 11,297  |                         | $      | 233,747 |   | $ | 1,139,992 |   | $ | 930,762 |   | $ | 490,563 |   | $ | 311,300 |   |
| Fixed charges                                                                                                       |   | 213,057                             |    | 960,241                      |   | 894,923 |   | 459,549 |   | 254,006 |   | 187,843 |   |
| Earnings, for computation  purposes                                                                                 |   | $                                   | 224,354 |                         | $      | 1,193,988 |   | $ | 2,034,915 |   | $ | 1,390,311 |   | $ | 744,569 |   | $ | 499,143 |   |
| **Fixed  Charges and Preferred Stock:**                                                                             |   |                                |    |                         |   |   |   |   |   |   |   |   |   |
| **Dividend  Requirements**                                                                                          |   |                                |    |                         |   |   |   |   |   |   |   |   |   |
| Interest on borrowings                                                                                              |   | $                                   | 11,752  |                         | $      | 61,332 |   | $ | 61,797 |   | $ | 91,634 |   | $ | 42,931 |   | $ | 18,858 |   |
| Interest on deposits                                                                                                |   | 195,303                             |    | 872,977                      |   | 812,982 |   | 356,736 |   | 204,335 |   | 164,252 |   |
| Portion of rents  representative of the interest factor                                                             |   | 6,002                               |    | 25,932                       |   | 20,144 |   | 11,179 |   | 6,740 |   | 4,733 |   |
| Fixed charges, including  interest on deposits, for computation purposes                                            |   | $                                   | 213,057 |                         | $      | 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 |   | $                                   | 213,057 |                         | $      | 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      |   | 1.05                                |    | 1.24                         |   | 2.27 |   | 3.03 |   | 2.93 |   | 2.63 |   |
| **Excluding  Interest On Deposits**                                                                                 |   |                                |    |                         |   |   |   |   |   |   |   |   |   |
| **Earnings:**                                                                                                       |   |                                |    |                         |   |   |   |   |   |   |   |   |   |
| Income from operations  before income taxes                                                                         |   | $                                   | 11,297  |                         | $      | 233,747 |   | $ | 1,139,992 |   | $ | 930,762 |   | $ | 490,563 |   | $ | 311,300 |   |
| Fixed charges                                                                                                       |   | 17,754                              |    | 87,264                       |   | 81,941 |   | 102,813 |   | 49,671 |   | 23,591 |   |
| Earnings, for computation  purposes                                                                                 |   | $                                   | 29,051  |                         | $      | 321,011 |   | $ | 1,221,933 |   | $ | 1,033,575 |   | $ | 540,234 |   | $ | 334,891 |   |
| **Fixed  Charges and Preferred Stock:**                                                                             |   |                                |    |                         |   |   |   |   |   |   |   |   |   |
| **Dividend  Requirements**                                                                                          |   |                                |    |                         |   |   |   |   |   |   |   |   |   |
| Interest on borrowings                                                                                              |   | $                                   | 11,752  |                         | $      | 61,332 |   | $ | 61,797 |   | $ | 91,634 |   | $ | 42,931 |   | $ | 18,858 |   |
| Portion of rents  representative of the interest factor                                                             |   | 6,002                               |    | 25,932                       |   | 20,144 |   | 11,179 |   | 6,740 |   | 4,733 |   |
| Fixed charges, excluding  interest on deposits, for computation purposes                                            |   | $                                   | 17,754  |                         | $      | 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 |   | $                                   | 17,754  |                         | $      | 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       |   | 1.64                                |    | 3.68                         |   | 14.91 |   | 10.05 |   | 10.88 |   | 13.28 |   |

 

----

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

 

----