**GREENPOINTFINANCIAL CORP. AND SUBSIDIARIES****Exhibit 12.1Ratios of Earnings to Combined Fixed Charges and Preferred Stock Dividends**

The Company’sconsolidated ratios of earnings to combined fixed charges and preferred stockdividends for each of the periods indicated are set fourth below:
|                                                                                                                 | **Quarter Ended**                                                                                               |   | **Six Months Ended** |   |
|----------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------|--------|----------------------|--------|
|                                                                                                                 | ****                                                                                                            |   | ****                 |   |
|                                                                                                                 | **June 30,**                                                                                                    |   | **Mar. 31,**         |   | **Dec. 31,** |   | **Sept. 30,** |   | **June 30,** |   | **June 30,** |   |
|                                                                                                                 | **2001**                                                                                                        |   | **2001**             |   | **2000** |   | **2000** |   | **2000** |   | **2001** |   | **2000** |   |
|                                                                                                                 | ****                                                                                                            |   | ****                 |   | **** |   | **** |   | **** |   | **** |   | **** |   |
| *(In millions)*                                                                                                      |                                                                                                            |   |                 |   |   |   |   |   |   |   |   |   |   |   |
| Income  before income taxes                                                                                          | $                                                                                                               | 140.1  |                 | $      | 129.6 |   | $ | 35.7 |   | $ | 111.7 |   | $ | 108.9 |   | $ | 269.7 |   | $ | 207.0 |   |
|                                                                                                                 |                                                                                                            |   |                 |   |   |   |   |   |   |   |   |   |   |   |
| Combined  fixed charges and preferred stock dividends:                                                               |                                                                                                            |   |                 |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                 | Interest  expense of deposits                                                                                   | 118.0  |                 | 125.2  |   | 131.0 |   | 130.0 |   | 125.8 |   | 243.2 |   | 250.1 |   |
|                                                                                                                 | Interest  expense of long-term debt                                                                             | 5.9    |                 | 5.9    |   | 5.8 |   | 2.6 |   | 3.3 |   | 11.8 |   | 6.7 |   |
|                                                                                                                 | Interest  expense on guaranteed preferred beneficial interest in Company’s junior  subordinated debentures | 4.6    |                 | 4.6    |   | 4.6 |   | 4.6 |   | 4.5 |   | 9.2 |   | 9.1 |   |
|                                                                                                                 | Appropriate  portion (1/3) of rent expense                                                                      | 2.3    |                 | 2.2    |   | 2.1 |   | 1.7 |   | 1.7 |   | 4.5 |   | 3.4 |   |
|                                                                                                                 |                                                                                                                 |   |                      |   |  |   |  |   |  |   |  |   |  |   |
| Total  combined fixed charges and preferred stock dividends                                                          | $                                                                                                               | 130.8  |                 | $      | 137.9 |   | $ | 143.5 |   | $ | 138.9 |   | $ | 135.3 |   | $ | 268.7 |   | $ | 269.3 |   |
|                                                                                                                 |                                                                                                                 |   |                      |   |  |   |  |   |  |   |  |   |  |   |
| Total  combined fixed charges and preferred stock dividends (excluding interest  expense on deposits)                | $                                                                                                               | 12.8   |                 | $      | 12.7 |   | $ | 12.5 |   | $ | 8.9 |   | $ | 9.5 |   | $ | 25.5 |   | $ | 19.2 |   |
|                                                                                                                 |                                                                                                                 |   |                      |   |  |   |  |   |  |   |  |   |  |   |
| Earnings  before income taxes and combined fixed charges and preferred stock dividends                               | $                                                                                                               | 270.9  |                 | $      | 267.5 |   | $ | 179.2 |   | $ | 250.6 |   | $ | 244.2 |   | $ | 538.4 |   | $ | 476.3 |   |
|                                                                                                                 |                                                                                                                 |   |                      |   |  |   |  |   |  |   |  |   |  |   |
| Ratio  of earnings to combined fixed charges and preferred stock dividends  (including interest expense on deposits) | 2.07 x                                                                                                          |   | 1.94 x               |   | 1.25 x |   | 1.80 x |   | 1.80 x |   | 2.00 x |   | 1.77 x |   |
|                                                                                                                 |                                                                                                                 |   |                      |   |  |   |  |   |  |   |  |   |  |   |
| Ratio  of earnings to combined fixed charges and preferred stock dividends  (excluding interest expense on deposits) | 11.95 x                                                                                                         |   | 11.20 x              |   | 3.86 x |   | 13.55 x |   | 12.46 x |   | 11.58 x |   | 11.78 x |   |
|                                                                                                                 |                                                                                                                 |   |                      |   |  |   |  |   |  |   |  |   |  |   |