Exhibit 12.1



Computation of Ratio of Earnings to Fixed Charges



|                                                                                          |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|----------------------------------------------------------------------------------------- |  | -------------------------------- | ------- | - | ---- | - | ------- | ---- |  | - | ------- | - |  | ---- | ------- | - |  | - | ------- | -
|                                                                                          |  | For the Years Ended December 31, |        
|                                                                                          |  | 2003                             |         |   | 2002 |   |         | 2001 |  |   | 2000    |   |  | 1999 |        
|                                                                                          |  | (dollars in thousands)           |        
|INCLUDING INTEREST ON DEPOSITS                                                            |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Earnings                                                                                  |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Income (loss) before income taxes and cumulative effect of change in accounting principle |  | $                                | 27,315  |   |      | $ | (29,740 | )    |  | $ | 27,159  |   |  | $    | 18,558  |   |  | $ | 19,480  |  
|Plus:                                                                                     |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total Fixed Charges (See below)                                                           |  |                                  | 47,140  |   |      |   | 51,374  |      |  |   | 81,639  |   |  |      | 95,840  |   |  |   | 71,075  |  
|Less:                                                                                     |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Preferred stock dividend (1)                                                              |  |                                  | (5,297  | ) |      |   | (5,295  | )    |  |   | (5,297  | ) |  |      | (5,297  | ) |  |   | (5,296  | )
|                                                                                          |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total Earnings                                                                            |  | $                                | 69,158  |   |      | $ | 16,339  |      |  | $ | 103,501 |   |  | $    | 109,101 |   |  | $ | 85,259  |  
|                                                                                          |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Fixed Charges                                                                             |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total interest expense (2)                                                                |  | $                                | 40,154  |   |      | $ | 44,680  |      |  | $ | 74,816  |   |  | $    | 89,200  |   |  | $ | 64,390  |  
|Interest included in operating lease rental expense (3)                                   |  |                                  | 1,689   |   |      |   | 1,399   |      |  |   | 1,526   |   |  |      | 1,343   |   |  |   | 1,389   |  
|Preferred stock dividend (1)                                                              |  |                                  | 5,297   |   |      |   | 5,295   |      |  |   | 5,297   |   |  |      | 5,297   |   |  |   | 5,296   |  
|                                                                                          |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total Fixed Charges                                                                       |  | $                                | 47,140  |   |      | $ | 51,374  |      |  | $ | 81,639  |   |  | $    | 95,840  |   |  | $ | 71,075  |  
|                                                                                          |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Ratio of Earnings to Fixed Charges                                                        |  |                                  | 1.47    | x |      |   | 0.32    | x    |  |   | 1.27    | x |  |      | 1.14    | x |  |   | 1.20    | x
|                                                                                          |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|EXCLUDING INTEREST ON DEPOSITS                                                            |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Earnings                                                                                  |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Income (loss) before income taxes and cumulative effect of change in accounting principle |  | $                                | 27,315  |   |      | $ | (29,740 | )    |  | $ | 27,159  |   |  | $    | 18,558  |   |  | $ | 19,480  |  
|Plus:                                                                                     |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total Fixed Charges excluding interest on deposits (See below)                            |  |                                  | 18,744  |   |      |   | 16,089  |      |  |   | 22,464  |   |  |      | 27,231  |   |  |   | 21,943  |  
|Less:                                                                                     |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Preferred stock dividend (1)                                                              |  |                                  | (5,297  | ) |      |   | (5,295  | )    |  |   | (5,297  | ) |  |      | (5,297  | ) |  |   | (5,296  | )
|                                                                                          |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total Earnings                                                                            |  | $                                | 40,762  |   |      | $ | (18,946 | )    |  | $ | 44,326  |   |  | $    | 40,492  |   |  | $ | 36,127  |  
|                                                                                          |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Fixed Charges                                                                             |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total interest expense (2)                                                                |  | $                                | 40,154  |   |      | $ | 44,680  |      |  | $ | 74,816  |   |  | $    | 89,200  |   |  | $ | 64,390  |  
|Interest included in operating lease rental expense (3)                                   |  |                                  | 1,689   |   |      |   | 1,399   |      |  |   | 1,526   |   |  |      | 1,343   |   |  |   | 1,389   |  
|Preferred stock dividend (1)                                                              |  |                                  | 5,297   |   |      |   | 5,295   |      |  |   | 5,297   |   |  |      | 5,297   |   |  |   | 5,296   |  
|Less: interest expense on deposits                                                        |  |                                  | (28,396 | ) |      |   | (35,285 | )    |  |   | (59,175 | ) |  |      | (68,609 | ) |  |   | (49,132 | )
|                                                                                          |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total Fixed Charges excluding interest on deposits                                        |  | $                                | 18,744  |   |      | $ | 16,089  |      |  | $ | 22,464  |   |  | $    | 27,231  |   |  | $ | 21,943  |  
|                                                                                          |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Ratio of Earnings to Fixed Charges                                                        |  |                                  | 2.17    | x |      |   | (1.18   | )x   |  |   | 1.97    | x |  |      | 1.49    | x |  |   | 1.65    | x
|                                                                                          |  |                                  |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  

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|(1) | The stock dividend amount has been grossed up to compute the pretax 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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