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                                  EXHIBIT 12
                                       
               COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                            (Dollars in thousands)


<TABLE>
<CAPTION>
                                                          Successor                              Successor                          
                                                       Basis - Taylor                         Basis - Taylor                        
                                                       Capital Group,       Predecessor       Capital Group,        Predecessor     
                                                           Inc. -           Basis - Cole          Inc. -           Basis - Cole     
                                                        Consolidated       Taylor Bank -       Consolidated        Taylor Bank -    
                                                        For the Three      For the Three     For the Period of     For the Nine     
                                                        Months Ended        Months Ended     Feb. 12, 1997 to      Months Ended     
                                                        Sep. 30, 1997      Sep. 30, 1996       Sep. 30, 1997       Sep. 30, 1996    
                                                        --------------     ---------------     --------------      --------------   
<S>                                                       <C>                <C>                 <C>                 <C>
1        Income before income taxes                         $  5,237           $   7,660           $ 12,346            $ 21,640 
                                                                                                                                    
ADD BACK FIXED CHARGES:                                                                                                             
                                                                                                                                    
2        Total interest expense (1)                           17,978              17,001             43,716              49,493  
3        Interest included in operating lease                                                                                    
         rental expense (2)                                      344                 263                860                 805     
4        Preferred stock dividend (3)                          1,324                ---               3,369                ---      
                                                            --------           ---------           --------            --------
5        Adjusted earnings including interest                                                                                   
         on deposits                                          24,883              24,924             60,291              71,938

6        Less: interest expense on deposits                   13,382              13,873             32,898              40,102  
                                                            --------           ---------           --------            -------- 
7        Adjusted earnings excluding interest                                                                                       
         on deposits                                        $ 11,501           $  11,051           $ 27,393            $ 31,836     
                                                            ========           =========           ========            ======== 
8        Fixed charges including interest                                                                                         
         on deposits (line 2 + line 3 + line 4)             $ 19,646           $  17,264           $ 47,945            $ 50,298  
                                                            ========           =========           ========            ======== 
9        Fixed charges excluding interest                                                                                         
         on deposits (line 8 - line 6)                      $  6,264           $   3,391           $ 15,047            $ 10,196  
                                                            ========           =========           ========            ======== 
                                                                                                                                    
RATIO OF EARNINGS TO FIXED CHARGES                                                                                                  
                                                                                                                                    
         Including interest on deposits                                                                                             
         (line 5 / line 8)                                      1.27                1.44               1.26                1.43     
                                                            ========           =========           ========            ========
         Excluding interest on deposits                                                                                             
         (line 7 / line 9)                                      1.84                3.26               1.82                3.12     
                                                            ========           =========           ========            ======== 

</TABLE>

(1)  Interest expense includes cash interest expense on deposits and other debt
     and amortization of debt issuance costs. 

(2)  Calculation of interest included in operating lease rental expense is 
     representative of the interest factor attributable to the lease payment.

(3)  Preferred stock dividends have been computed based on $38,250,000 of
     preferred stock issued and a dividend rate of 9% per annum. The stock
     dividend amount has been grossed up to compute the pretax income equivalent
     assuming an estimated 35% tax rate.




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