|
For the Year Ended December 31,
|
||||||||||||||||||||
|
2011
|
2010
|
2009
|
2008
|
2007
|
||||||||||||||||
|
(Dollars in thousdands)
|
||||||||||||||||||||
|
Ratio 1 - including deposit interest
|
||||||||||||||||||||
|
Earnings:
|
||||||||||||||||||||
|
Pre-tax income (loss) from continuing operations
|
$ | 36,571 | $ | (250,953 | ) | $ | (333,742 | ) | $ | (187,727 | ) | $ | 28,145 | |||||||
|
Fixed charges
|
18,757 | 42,503 | 67,788 | 102,234 | 138,420 | |||||||||||||||
|
Total
|
$ | 55,328 | $ | (208,450 | ) | $ | (265,954 | ) | $ | (85,493 | ) | $ | 166,565 | |||||||
|
Fixed charges:
|
||||||||||||||||||||
|
Interest on deposits
|
$ | 9,610 | $ | 20,789 | $ | 42,546 | $ | 62,305 | $ | 93,973 | ||||||||||
|
Interest on other short-term borrowings
|
204 | 1,177 | 548 | 6,563 | 1,616 | |||||||||||||||
|
Interest on long-term debt
|
8,815 | 20,135 | 24,621 | 33,129 | 42,390 | |||||||||||||||
|
Interest on preferred stock dividends
|
69 | 346 | 42 | - | - | |||||||||||||||
|
Portion of rents representative of the interest
|
||||||||||||||||||||
|
factor of rental expense
|
59 | 56 | 31 | 237 | 441 | |||||||||||||||
|
Total fixed charges
|
$ | 18,757 | $ | 42,503 | $ | 67,788 | $ | 102,234 | $ | 138,420 | ||||||||||
|
Preferred stock dividend requirements
|
1,502 | 11,265 | 10,983 | - | - | |||||||||||||||
|
Fixed charges and preferred stock dividends
|
$ | 20,259 | $ | 53,768 | $ | 78,771 | $ | 102,234 | $ | 138,420 | ||||||||||
|
Ratio of earnings to fixed charges
|
2.9 |
NM
|
NM
|
NM
|
1.2 | |||||||||||||||
|
Coverage deficiency
|
$ | - | $ | (250,953 | ) | $ | (333,742 | ) | (187,727 | ) | - | |||||||||
|
Ratio of earnings to fixed charges and preferred
|
||||||||||||||||||||
|
stock dividends
|
2.7 |
NM
|
NM
|
NM
|
1.2 | |||||||||||||||
|
Coverage deficiency
|
$ | - | $ | (262,218 | ) | $ | (344,725 | ) | (187,727 | ) | - | |||||||||
|
Ratio 2 - excluding deposit interest
|
||||||||||||||||||||
|
Earnings:
|
||||||||||||||||||||
|
Pre-tax income (loss) from continuing operations
|
$ | 36,571 | $ | (250,953 | ) | $ | (333,742 | ) | $ | (187,727 | ) | $ | 28,145 | |||||||
|
Fixed charges
|
9,147 | 21,714 | 25,242 | 39,929 | 44,447 | |||||||||||||||
|
Total
|
$ | 45,718 | $ | (229,239 | ) | $ | (308,500 | ) | $ | (147,798 | ) | $ | 72,592 | |||||||
|
Fixed charges:
|
||||||||||||||||||||
|
Interest on other short-term borrowings
|
$ | 204 | $ | 1,177 | $ | 548 | $ | 6,563 | $ | 1,616 | ||||||||||
|
Interest on long-term debt
|
8,815 | 20,135 | 24,621 | 33,129 | 42,390 | |||||||||||||||
|
Interest on preferred stock dividends
|
69 | 346 | 42 | - | - | |||||||||||||||
|
Portion of rents representative of the interest
|
||||||||||||||||||||
|
factor of rental expense
|
59 | 56 | 31 | 237 | 441 | |||||||||||||||
|
Total fixed charges
|
$ | 9,147 | $ | 21,714 | $ | 25,242 | $ | 39,929 | $ | 44,447 | ||||||||||
|
Preferred stock dividend requirements
|
1,502 | 11,265 | 10,983 | - | - | |||||||||||||||
|
Fixed charges and preferred stock dividends
|
$ | 10,649 | $ | 32,979 | $ | 36,225 | $ | 39,929 | $ | 44,447 | ||||||||||
|
Ratio of earnings to fixed charges
|
5.0 |
NM
|
NM
|
NM
|
1.6 | |||||||||||||||
|
Coverage deficiency
|
$ | - | $ | (250,953 | ) | $ | (333,742 | ) | (187,727 | ) | - | |||||||||
|
Ratio of earnings to fixed charges and preferred
|
||||||||||||||||||||
|
stock dividends
|
4.3 |
NM
|
NM
|
NM
|
1.6 | |||||||||||||||
|
Coverage deficiency
|
$ | - | $ | (262,218 | ) | $ | (344,725 | ) | (187,727 | ) | - | |||||||||