Exhibit 12.1

SPECTRUM BANCORPORATION, INC.  COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS

|                                                                                           |  | Year Ended
June 30,
2002 |   | Year Ended
June 30,
2001 |   | Year Ended
June 30,
2000 |   | Year Ended
June 30,
1999 |   | Year Ended
June 30,
1998 |  
|------------------------------------------------------------------------------------------ |  | ------------------------ | - | ------------------------ | - | ------------------------ | - | ------------------------ | - | ------------------------ | -
|Income before income taxes and minority interest in net income of subsidiaries             |  | 21,246                   |   | 14,862                   |   | 13,988                   |   | 12,639                   |   | 10,531                   |  
|Add:                                                                                       |  |                          |   |                          |   |                          |   |                          |   |                          |  
|Interest expense, including interest on deposits                                           |  | 60,181                   |   | 51,825                   |   | 31,515                   |   | 25,548                   |   | 24,273                   |  
|                                                                                           |  |                          |   |                          |   |                          |   |                          |   |                          |  
|Income as adjusted                                                                         |  | 81,427                   |   | 66,687                   |   | 45,503                   |   | 38,187                   |   | 34,804                   |  
|                                                                                           |  |                          |   |                          |   |                          |   |                          |   |                          |  
|Preferred dividend requirements                                                            |  | 900                      |   | 152                      |   | 152                      |   | 152                      |   | 152                      |  
|Ratio of income before provision for income taxes to income before minority interest       |  | 153                      | % | 150                      | % | 147                      | % | 148                      | % | 143                      | %
|                                                                                           |  |                          |   |                          |   |                          |   |                          |   |                          |  
|Preferred dividend factor on pretax basis                                                  |  | 1,380                    |   | 227                      |   | 223                      |   | 225                      |   | 218                      |  
|Fixed charges interest expense, including interest on deposits                             |  | 60,181                   |   | 51,825                   |   | 31,515                   |   | 25,548                   |   | 24,273                   |  
|                                                                                           |  |                          |   |                          |   |                          |   |                          |   |                          |  
|Fixed charges and preferred dividends                                                      |  | 61,561                   |   | 52,052                   |   | 31,738                   |   | 25,773                   |   | 24,491                   |  
|                                                                                           |  |                          |   |                          |   |                          |   |                          |   |                          |  
|Ratio on earnings to fixed charges and preferred dividends, including interest on deposits |  | 1.32x                    |   | 1.28x                    |   | 1.43x                    |   | 1.48x                    |   | 1.42x                    |  
|                                                                                           |  |                          |   |                          |   |                          |   |                          |   |                          |  
|Income before income taxes and minority interest in net income of subsidiaries             |  | 21,246                   |   | 14,862                   |   | 13,988                   |   | 12,639                   |   | 10,531                   |  
|Add:                                                                                       |  |                          |   |                          |   |                          |   |                          |   |                          |  
|Interest expense, excluding interest on deposits                                           |  | 13,561                   |   | 9,520                    |   | 5,699                    |   | 3,544                    |   | 3,694                    |  
|                                                                                           |  |                          |   |                          |   |                          |   |                          |   |                          |  
|Income as adjusted                                                                         |  | 34,807                   |   | 24,382                   |   | 19,687                   |   | 16,183                   |   | 14,225                   |  
|                                                                                           |  |                          |   |                          |   |                          |   |                          |   |                          |  
|Preferred dividend requirements                                                            |  | 900                      |   | 152                      |   | 152                      |   | 152                      |   | 152                      |  
|Ratio of income before provision for income taxes to income before minority interest       |  | 153                      | % | 150                      | % | 147                      | % | 148                      | % | 143                      | %
|                                                                                           |  |                          |   |                          |   |                          |   |                          |   |                          |  
|Preferred dividend factor on pretax basis                                                  |  | 1,380                    |   | 227                      |   | 233                      |   | 225                      |   | 218                      |  
|Fixed charges                                                                              |  |                          |   |                          |   |                          |   |                          |   |                          |  
|Interest expense, excluding interest on deposits                                           |  | 13,561                   |   | 9,520                    |   | 5,699                    |   | 3,544                    |   | 3,694                    |  
|                                                                                           |  |                          |   |                          |   |                          |   |                          |   |                          |  
|Fixed charges and preferred dividends                                                      |  | 14,941                   |   | 9,747                    |   | 5,922                    |   | 3,769                    |   | 3,912                    |  
|Ratio on earnings to fixed charges and preferred dividends, excluding interest on deposits |  | 2.33x                    |   | 2.50x                    |   | 3.32x                    |   | 4.29x                    |   | 3.64x                    |  
|                                                                                           |  |                          |   |                          |   |                          |   |                          |   |                          |  

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