<PAGE>
EXHIBIT 12.1
SPECTRUM BANCORPORATION, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
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<CAPTION>
Three months Three months
ended ended Year Ended Year Ended Year Ended
September 30, September 30, June 30, June 30, June 30,
2000 1999 2000 1999 1998
---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C>
Income before income taxes and
minority interest in net income of
subsidiaries 3,983 3,670 13,988 12,639 10,531
Add:
Interest expense, including interest on deposits 10,282 6,789 31,515 25,548 24,273
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Income as adjusted 14,265 10,459 45,503 38,187 34,804
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Preferred dividend requirements 38 38 152 152 152
Ratio of income before provision for income taxes
to income before minority interest 142% 147% 147% 148% 143%
------------ ------------ ------------ ----------- -----------
Preferred dividend factor on pretax basis 54 56 223 225 218
Fixed charges
interest expense, including interest on deposits 10,282 6,789 31,515 25,548 24,273
------------ ------------ ------------ ----------- -----------
Fixed charges and preferred dividends 10,336 6,845 31,738 25,773 24,491
========================================================================
Ratio on earnings to fixed charges and preferred
dividends, including interest on deposits 1.38% 1.53% 1.43% 1.48% 1.42%
========================================================================
Income before income taxes and
minority interest in net income of
subsidiaries 3,983 3,670 13,988 12,639 10,531
Add:
Interest expense, excluding interest on deposits 1,775 1,090 5,699 3,544 3,694
------------ ------------ ------------ ----------- -----------
Income as adjusted 5,758 4,760 19,687 16,183 14,225
========================================================================
Preferred dividend requirements 38 38 152 152 152
Ratio of income before provision for income taxes
to income before minority interest 142% 147% 147% 148% 143%
------------ ------------ ------------ ----------- -----------
Preferred dividend factor on pretax basis 54 56 223 225 218
Fixed charges
interest expense, excluding interest on deposits 1,775 1,090 5,699 3,544 3,694
------------ ------------ ------------ ----------- -----------
Fixed charges and preferred dividends 1,829 1,146 5,922 3,769 3,912
Ratio on earnings to fixed charges and preferred
dividends, excluding interest on deposits 3.15% 4.15% 3.32% 4.29% 3.64%
========================================================================
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<TABLE>
<CAPTION>
Year Ended Year Ended
June 30, June 30,
1997 1996
---- ----
<S> <C> <C>
Income before income taxes and
minority interest in net income of
subsidiaries 8,638 5,506
Add:
Interest expense, including interest on deposits 20,829 16,406
-----------------------
Income as adjusted 29,467 21,912
-----------------------
Preferred dividend requirements 152 427
Ratio of income before provision for income taxes
to income before minority interest 143% 156%
--------- --------
Preferred dividend factor on pretax basis 218 665
Fixed charges
interest expense, including interest on deposits 20,829 16,406
--------- --------
Fixed charges and preferred dividends 21,047 17,071
=======================
Ratio on earnings to fixed charges and preferred
dividends, including interest on deposits 1.40% 1.28%
=======================
Income before income taxes and
minority interest in net income of
subsidiaries 8,638 5,506
Add:
Interest expense, excluding interest on deposits 2,795 1,797
--------- --------
Income as adjusted 11,433 7,303
=======================
Preferred dividend requirements 152 427
Ratio of income before provision for income taxes
to income before minority interest 143% 156%
--------- --------
Preferred dividend factor on pretax basis 218 665
Fixed charges
interest expense, excluding interest on deposits 2,795 1,797
--------- --------
Fixed charges and preferred dividends 3,013 2,462
Ratio on earnings to fixed charges and preferred
dividends, excluding interest on deposits 3.80% 2.97%
=======================
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