EX-12.0 2 d126399dex120.htm EX-12.0

EXHIBIT 12.0

STATEMENT RE: RATIO OF EARNINGS TO FIXED CHARGES

|  | Years Ended December 31, |
(dollars in thousands) |  | 2015 |  |  | 2014 |  |  | 2013 |
Including Interest Paid on Deposits: |  |  |  |  |  |  |  |  |  |  |  |
(Loss) Earnings before income taxes |  | $ | (132,013 | ) |  | $ | 773,066 |  |  | $ | 747,126 |
Combined fixed charges: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense on deposits |  |  | 160,149 |  |  |  | 149,746 |  |  |  | 141,639 |
Interest expense on borrowed funds |  |  | 349,604 |  |  |  | 392,968 |  |  |  | 399,843 |
Appropriate portion (1/3) of rent expenses |  |  | 11,206 |  |  |  | 12,000 |  |  |  | 11,676 |
Total fixed charges |  | $ | 520,959 |  |  | $ | 554,714 |  |  | $ | 553,158 |
Earnings before income taxes and fixed charges |  | $ | 388,946 |  |  | $ | 1,327,780 |  |  | $ | 1,300,284 |
Ratio of earnings to fixed charges |  |  | 0.75x |  |  |  | 2.39x |  |  |  | 2.35x |
Excluding Interest Paid on Deposits: |  |  |  |  |  |  |  |  |  |  |  |
(Loss) Earnings before income taxes |  | $ | (132,013 | ) |  | $ | 773,066 |  |  | $ | 747,126 |
Combined fixed charges: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense on borrowed funds |  |  | 349,604 |  |  |  | 392,968 |  |  |  | 399,843 |
Appropriate portion (1/3) of rent expenses |  |  | 11,206 |  |  |  | 12,000 |  |  |  | 11,676 |
Total fixed charges |  | $ | 360,810 |  |  | $ | 404,968 |  |  | $ | 411,519 |
Earnings before income taxes and fixed charges |  | $ | 228,797 |  |  | $ | 1,178,034 |  |  | $ | 1,158,645 |
Ratio of earnings to fixed charges |  |  | 0.63x |  |  |  | 2.91x |  |  |  | 2.82x |