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                                  EXHIBIT 12.1

   Ratios of Earnings to Combined Fixed Charges and Preferred Stock Dividends
                              (Dollars in millions)


The Company's consolidated ratios of earnings to combined fixed charges and
preferred stock dividends for each of the periods indicated are set forth below:


<TABLE>
<CAPTION>
                                                                                         Year Ended
                                                                         --------------------------------------------
                                                                          December 31,   December 31,   December 31,
                                                                             1997           1996           1995
                                                                         ------------    ------------   ------------
<S>                                                                      <C>             <C>            <C>     
Income before income taxes ...........................................     $  242.0       $  224.5       $  198.4
                                                                           --------       --------       --------
                                                                                                      
Combined fixed charges and preferred stock dividends:                                                 
     Interest expense on deposits ....................................        472.7          525.7          345.8
                                                                                                      
     Interest expense on long term debt ..............................          6.4           --             --
                                                                                                      
     Interest expense on Guaranteed Preferred Beneficial                                              
        Interest in Company's Junior Subordinated Debentures .........         10.7           --             --
                                                                                                      
     Appropriate portion (1/3) of rent expense .......................          3.5            3.0            1.0
                                                                                                      
     Preferred stock dividend requirements ...........................          0.4            0.3           --
                                                                           --------       --------       --------
              Total combined fixed charges and                                                        
                 preferred stock dividends ...........................        493.7          529.0          346.8
                                                                           --------       --------       --------
Earnings before income taxes and combined fixed                                                       
   charges and preferred stock dividends .............................     $  735.7       $  753.5       $  545.2
                                                                           --------       --------       --------
                                                                           --------       --------       --------
Ratio of earnings to combined fixed charges and                                                       
   preferred stock dividends .........................................         1.49x          1.42x          1.57x
                                                                           --------       --------       --------
                                                                           --------       --------       --------
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