Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges



|                                                                    |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|------------------------------------------------------------------- |  | -------------------------------- | ------- | -- | ---- | - | ------- | ---- |  | - | -------- | -- |  | ---- | ------- | - |  | - | ------- | -
|                                                                    |  | For the Years Ended December 31, |        
|                                                                    |  | 2010                             |         |    | 2009 |   |         | 2008 |  |   | 2007     |    |  | 2006 |        
|INCLUDING INTEREST ON DEPOSITS                                      |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Earnings                                                            |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Income (loss) before income taxes                                   |  | $                                | (52,606 | )  |      | $ | (30,716 | )    |  | $ | (132,740 | )  |  | $    | (5,009  | ) |  | $ | 48,198  |  
|Plus:                                                               |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Total Fixed Charges (See below)                                     |  |                                  | 90,159  |    |      |   | 117,359 |      |  |   | 117,663  |    |  |      | 125,005 |   |  |   | 112,335 |  
|Less:                                                               |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Preferred stock dividend (1)                                        |  |                                  | (14,922 | )  |      |   | (17,666 | )    |  |   | (3,308   | )  |  |      |        |   |  |   |        |  
|                                                                    |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Total Earnings                                                      |  | $                                | 22,631  |    |      | $ | 68,977  |      |  | $ | (18,385  | )  |  | $    | 119,996 |   |  | $ | 160,533 |  
|                                                                    |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Fixed Charges                                                       |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Total interest expense (2)                                          |  | $                                | 72,442  |    |      | $ | 97,119  |      |  | $ | 112,097  |    |  | $    | 122,354 |   |  | $ | 109,808 |  
|Interest included in operating lease rental expense (3)             |  |                                  | 2,795   |    |      |   | 2,574   |      |  |   | 2,258    |    |  |      | 2,651   |   |  |   | 2,527   |  
|Preferred stock dividend (1)                                        |  |                                  | 14,922  |    |      |   | 17,666  |      |  |   | 3,308    |    |  |      |        |   |  |   |        |  
|                                                                    |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Total Fixed Charges                                                 |  | $                                | 90,159  |    |      | $ | 117,359 |      |  | $ | 117,663  |    |  | $    | 125,005 |   |  | $ | 112,335 |  
|                                                                    |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Ratio of Earnings to Fixed Charges                                  |  |                                  | 0.25x   |    |      |   | 0.59x   |      |  |   | (0.16    | )x |  |      | 0.96x   |   |  |   | 1.43x   |  
|                                                                    |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|EXCLUDING INTEREST ON DEPOSITS                                      |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Earnings                                                            |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Income (loss) before income taxes                                   |  | $                                | (52,606 | )  |      | $ | (30,716 | )    |  | $ | (132,740 | )  |  | $    | (5,009  | ) |  | $ | 48,198  |  
|Plus:                                                               |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Total Fixed Charges excluding interest on deposits (See below)      |  |                                  | 45,873  |    |      |   | 48,195  |      |  |   | 29,384   |    |  |      | 27,975  |   |  |   | 25,069  |  
|Less:                                                               |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Preferred stock dividend (1)                                        |  |                                  | (14,922 | )  |      |   | (17,666 | )    |  |   | (3,308   | )  |  |      |        |   |  |   |        |  
|                                                                    |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Total Earnings                                                      |  | $                                | (21,655 | )  |      | $ | (187    | )    |  | $ | (106,664 | )  |  | $    | 22,966  |   |  | $ | 73,267  |  
|                                                                    |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Fixed Charges                                                       |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Total interest expense (2)                                          |  | $                                | 72,442  |    |      | $ | 97,119  |      |  | $ | 112,097  |    |  | $    | 122,354 |   |  | $ | 109,808 |  
|Interest included in operating lease rental expense (3)             |  |                                  | 2,795   |    |      |   | 2,574   |      |  |   | 2,258    |    |  |      | 2,651   |   |  |   | 2,527   |  
|Preferred stock dividend (1)                                        |  |                                  | 14,922  |    |      |   | 17,666  |      |  |   | 3,308    |    |  |      |        |   |  |   |        |  
|Less: Interest expense on deposits                                  |  |                                  | (44,286 | )  |      |   | (69,164 | )    |  |   | (88,279  | )  |  |      | (97,030 | ) |  |   | (87,266 | )
|                                                                    |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Total Fixed Charges excluding interest on deposits                  |  | $                                | 45,873  |    |      | $ | 48,195  |      |  | $ | 29,384   |    |  | $    | 27,975  |   |  | $ | 25,069  |  
|                                                                    |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  
|Ratio of Earnings to Fixed Charges (excluding interest on deposits) |  |                                  | (0.47   | )x |      |   | 0.0x    |      |  |   | (3.63    | )x |  |      | 0.82x   |   |  |   | 2.92x   |  
|                                                                    |  |                                  |         |    |      |   |         |      |  |   |          |    |  |      |         |   |  |   |         |  



|(1) | The preferred stock dividend amount has been grossed up to compute the pre-tax income equivalent assuming an estimated 35% tax rate.
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|(2) | Interest expense includes cash interest expense on deposits and other debt and amortization of debt issuance costs.
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|(3) | Calculation of interest included in operating lease rental expense is representative of the interest factor attributable to the lease payment.
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