<PAGE>
STATEMENT RE COMPUTATION OF RATIOS
EXHIBIT 12.01
SUMMIT SECURITIES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
The ratio of adjusted earnings to fixed charges and preferred stock
dividends was computed using the following tabulations to compute adjusted
earnings and the defined fixed charges and preferred stock dividends.
<TABLE>
<CAPTION>
YEAR ENDED SEPTEMBER 30
---------------------------------------------------------------
2000 1999 1998 1997 1996
----------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C>
Income (loss) before extraordinary
item............................ $ 4,082,239 $2,814,828 $2,524,027 $1,851,240 $1,244,522
Add:
Interest........................ 6,886,427 5,856,249 4,778,443 4,325,528 3,741,095
Taxes on income................. 1,462,272 529,430 544,034 126,905 237,951
----------- ---------- ---------- ---------- ----------
Adjusted earnings................. $12,430,938 $9,200,507 $7,846,504 $6,303,673 $5,223,568
=========== ========== ========== ========== ==========
Preferred stock dividend
requirements.................... $ 2,025,155 $ 838,356 $ 498,533 $ 446,560 $ 333,606
Ratio factor of income after
provision for income taxes to
income before provision for
income taxes.................... 73% 84% 82% 94% 84%
Preferred stock dividend factor on
pretax basis.................... 2,750,572 996,027 605,971 477,196 397,387
----------- ---------- ---------- ---------- ----------
Fixed charges
Interest........................ 6,886,427 5,856,249 4,778,443 4,325,528 3,741,095
----------- ---------- ---------- ---------- ----------
Fixed charges and preferred stock
dividends....................... $ 9,636,999 $6,852,276 $5,384,414 $4,802,724 $4,138,482
=========== ========== ========== ========== ==========
Ratio of adjusted earnings to
fixed charges and preferred
stock dividends................. 1.29 1.34 1.46 1.31 1.26
=========== ========== ========== ========== ==========
</TABLE>