----

|                                                                                     |   |                               Year Ended December 31, |    |
|------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|
|                                                                                     |   |             2008                                                                                                                                |    |   |            2007 |   |   |            2006 |   |
|                                                                                     |   | (Dollars in      thousands)                                                                                                                                                   |    |
|                                                                                     |   |                                                                                                                                                                          |    |   |   |   |   |   |   |
| Pretax      income (loss)                                                                |   | $                                                                                                                                                                             | (87,186 | ) |   | $ | 17,323 |   |   | $ | 37,760 |   |
| Add      fixed charges:                                                                  |   |                                                                                                                                                                          |    |   |   |   |   |   |   |   |   |   |
| Interest      on deposits                                                                |   |                                                                                                                                                                          | 29,169  |   |   |   | 33,381 |   |   |   | 29,741 |   |
| Interest      on borrowings                                                              |   |                                                                                                                                                                          | 4,001   |   |   |   | 5,009 |   |   |   | 4,624 |   |
| Portion      of rental expense representing interest expense                             |   |                                                                                                                                                                          | 316     |   |   |   | 66 |   |   |   | 62 |   |
| Total      fixed charges                                                                 |   |                                                                                                                                                                          | 33,486  |   |   |   | 38,456 |   |   |   | 34,427 |   |
|                                                                                     |   |                                                                                                                                                                          |    |   |   |   |   |   |   |   |   |   |
| Income      (loss) before fixed charges                                                  |   | $                                                                                                                                                                             | (53,700 | ) |   | $ | 55,779 |   |   | $ | 72,187 |   |
|                                                                                     |   |                                                                                                                                                                          |    |   |   |   |   |   |   |   |   |   |
| Pretax      income (loss)                                                                |   | $                                                                                                                                                                             | (87,186 | ) |   | $ | 17,323 |   |   | $ | 37,760 |   |
| Add      fixed charges (excluding interest on deposits):                                 |   |                                                                                                                                                                          |    |   |   |   |   |   |   |   |   |   |
| Interest      on borrowings                                                              |   |                                                                                                                                                                          | 4,001   |   |   |   | 5,009 |   |   |   | 4,624 |   |
| Portion      of rental expense representing interest expense                             |   |                                                                                                                                                                          | 316     |   |   |   | 66 |   |   |   | 62 |   |
| Total      fixed charges                                                                 |   |                                                                                                                                                                          | 4,317   |   |   |   | 5,075 |   |   |   | 4,686 |   |
|                                                                                     |   |                                                                                                                                                                          |    |   |   |   |   |   |   |   |   |   |
| Income      (loss) before fixed charges (excluding interest      on  deposits) |   | $                                                                                                                                                                             | (82,869 | ) |   | $ | 22,398 |   |   | $ | 42,446 |   |
|                                                                                     |   |                                                                                                                                                                          |    |   |   |   |   |   |   |   |   |   |
| Ratio      of Earnings (Loss) to Fixed Charges                                           |   |                                                                                                                                                                          |    |   |   |   |   |   |   |   |   |   |
| Including      interest on deposits                                                      |   |                                                                                                                                                                          | (1.60   | ) |   |   | 1.45 |   |   |   | 2.10 |   |
| Excluding      interest on deposits                                                      |   |                                                                                                                                                                          | (19.20  | ) |   |   | 4.41 |   |   |   | 9.06 |   |