Exhibit 12.1
Ratio of Earnings to Fixed Charges
| (Unaudited) Three Months Ended March 31, |
Twelve Months Ended December 31, | |||||||||||||||||||||||||||
| (dollar amounts in thousands) |
2013 | 2012 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||||
| Earnings: |
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| Income (loss) before income taxes |
$ | 203,994 | $ | 205,447 | $ | 825,117 | $ | 707,234 | $ | 352,311 | $ | (3,678,183 | ) | $ | (296,008 | ) | ||||||||||||
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| Add: Fixed charges, excluding interest on deposits |
13,418 | 23,091 | 74,379 | 97,035 | 102,969 | 155,269 | 351,672 | |||||||||||||||||||||
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| Earnings available for fixed charges, excluding interest on deposits |
217,412 | 228,538 | 899,496 | 804,269 | 455,280 | (3,522,914 | ) | 55,664 | ||||||||||||||||||||
| Add: Interest on deposits |
32,035 | 43,780 | 162,167 | 260,051 | 439,050 | 674,101 | 931,679 | |||||||||||||||||||||
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| Earnings available for fixed charges, including interest on deposits |
249,447 | 272,318 | 1,061,663 | 1,064,320 | 894,330 | (2,848,813 | ) | 987,343 | ||||||||||||||||||||
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| Fixed Charges: |
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| Interest expense, excluding interest on deposits |
9,114 | 18,948 | 57,572 | 81,004 | 87,537 | 139,754 | 334,952 | |||||||||||||||||||||
| Interest factor in net rental expense |
4,304 | 4,143 | 16,807 | 16,031 | 15,432 | 15,515 | 16,720 | |||||||||||||||||||||
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| Total fixed charges, excluding interest on deposits |
13,418 | 23,091 | 74,379 | 97,035 | 102,969 | 155,269 | 351,672 | |||||||||||||||||||||
| Add: Interest on deposits |
32,035 | 43,780 | 162,167 | 260,051 | 439,050 | 674,101 | 931,679 | |||||||||||||||||||||
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| Total fixed charges, including interest on deposits |
$ | 45,453 | $ | 66,871 | $ | 236,546 | $ | 357,086 | $ | 542,019 | $ | 829,370 | $ | 1,283,351 | ||||||||||||||
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| Ratio of Earnings to Fixed Charges |
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| Excluding interest on deposits |
16.20x | 9.90x | 12.09x | 8.29x | 4.42x | (22.69 | )x | 0.16x | ||||||||||||||||||||
| Including interest on deposits |
5.49x | 4.07x | 4.49x | 2.98x | 1.65x | (3.43 | )x | 0.77x | ||||||||||||||||||||