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Computation of Ratio of Earnings to Fixed Charges Including Preferred Stock Dividends
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Three Months Ended March 31,
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Years ended December 31,
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2013
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2012
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2012
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2011
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2010
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2009
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2008
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Excluding interest on deposits
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2.38 | 2.51 | 2.60 | 2.42 | 2.27 | 1.97 | 1.70 | |||||||||||||||||||||
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Including interest on deposits
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1.98 | 2.03 | 2.11 | 1.95 | 1.84 | 1.57 | 1.34 | |||||||||||||||||||||
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Note:
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The ratio of earnings to fixed charges is calculated by adding income before income taxes plus fixed charges and dividing that sum by fixed charges.
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Three Months Ended March 31,
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Years ended December 31,
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| 2013 | 2012 | 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||||||||
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(In thousands)
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Income before income taxes
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$ | 44,124 | $ | 49,809 | $ | 210,375 | $ | 195,217 | $ | 184,935 | $ | 165,406 | $ | 108,274 | ||||||||||||||
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Interest on deposits
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$ | 12,813 | $ | 15,539 | $ | 57,556 | $ | 68,167 | $ | 74,924 | $ | 118,297 | $ | 163,113 | ||||||||||||||
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Borrowings and long-term debt
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30,184 | 31,138 | 123,756 | 130,846 | 139,136 | 144,573 | 145,782 | |||||||||||||||||||||
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1/3 of net rental expense
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1,898 | 1,904 | 7,949 | 7,061 | 7,046 | 6,596 | 5,945 | |||||||||||||||||||||
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Preferred stock dividends
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- | - | - | - | - | 19,524 | 2,090 | |||||||||||||||||||||
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Total fixed charges, including
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interest on deposits
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$ | 44,895 | $ | 48,581 | $ | 189,261 | $ | 206,074 | $ | 221,106 | $ | 288,990 | $ | 316,930 | ||||||||||||||
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Total fixed charges, excluding
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interest on deposits
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$ | 32,082 | $ | 33,042 | $ | 131,705 | $ | 137,907 | $ | 146,182 | $ | 170,693 | $ | 153,817 | ||||||||||||||