EXHIBIT 12 - RATIO OF EARNINGS TO FIXED CHARGES




|                               |                                                        |                                          | Three Months Ended
March 31   |         | Years Ended December 31 |     
|------------------------------ | ------------------------------------------------------ | ---------------------------------------- | ----------------------------- | ------- | ----------------------- | ----
|                               |                                                        |                                          |                               |         |                         |     
|                               |                                                        |                                          | (dollar amounts in thousands) |        
|                               |                                                        |                                          |                               |         |                         |     
|                               |                                                        |                                          |                               | 2000    |                         |     
|                               |                                                        |                                          |                               |         |                         |     
|                               |                                                        | Earnings:                                |                               |         |                         |     
|                               |                                                        |                                          |                               |         |                         |     
|                               |                                                        | Income before                            |                               |         |                         |     
|                               |                                                        | income taxes                             | $                             | 82,855  |                         | $   
|                               |                                                        | Fixed charges                            |                               | 43,563  |                         |     
|                               |                                                        |                                          |                               |         |                         |     
|                               |                                                        |                                          | $                             | 126,418 |                         | $   
|                               |                                                        |                                          |                               |         |                         |     
|                               | Fixed charges:                                         |                                          |                               |         |                         |     
|                               |                                                        |                                          |                               |         |                         |     
|                               |                                                        | Interest expense
(other than
interest on |                               |         |                         |     
|                               |                                                        | deposits)                                | $                             | 43,563  |                         | $   
|                               |                                                        | Interest factor in                       |                               |         |                         |     
|                               |                                                        | rent expense                             |                               | --      |                         |     
|                               |                                                        |                                          |                               |         |                         |     
|                               |                                                        |                                          | $                             | 43,563  |                         | $   
|                               |                                                        |                                          |                               |         |                         |     
|                               |                                                        |                                          |                               |         |                         |     
|                               | Ratio of earnings
to
fixed charges,
excluding interest |                                          |                               |         |                         |     
|                               | on deposits                                            |                                          | 2.90                          |         |                         | 4.27
|                               |                                                        |                                          |                               |         |                         |     
|                               |                                                        |                                          |                               |         |                         |     
|Including Interest
On Deposits |                                                        |                                          |                               |         |                         |     
|                               |                                                        |                                          |                               |         |                         |     
|                               |                                                        |                                          |                               |         |                         |     
|                               | Earnings:                                              |                                          |                               |         |                         |     
|                               |                                                        | Income before                            |                               |         |                         |     
|                               |                                                        | income taxes                             | $                             | 82,855  |                         | $   
|                               |                                                        | Fixed charges                            |                               | 175,389 |                         |     
|                               |                                                        |                                          |                               |         |                         |     
|                               |                                                        |                                          | $                             | 258,244 |                         | $   
|                               |                                                        |                                          |                               |         |                         |     
|                               | Fixed charges:                                         |                                          |                               |         |                         |     
|                               |                                                        |                                          |                               |         |                         |     
|                               |                                                        | Interest expense                         | $                             | 175,389 |                         | $   
|                               |                                                        | Interest factor in                       |                               |         |                         |     
|                               |                                                        | rent expense                             |                               | --      |                         |     
|                               |                                                        |                                          |                               |         |                         |     
|                               |                                                        |                                          | $                             | 175,389 |                         | $   
|                               |                                                        |                                          |                               |         |                         |     
|                               |                                                        |                                          |                               |         |                         |     
|                               | Ratio of earnings
to
fixed charges,
including interest |                                          |                               |         |                         |     
|                               | on deposits                                            |                                          | 1.47                          |         |                         | 1.63

The Corporation had no preferred stock outstanding during
any period presented. Accordingly, its ratio of earnings to combined fixed
charges and preferred stock dividends is the same as its ratio of earnings
to fixed charges.

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