GREENPOINT FINANCIAL CORP. AND SUBSIDIARIES
Exhibit 12.1
Ratios of Earnings to Combined Fixed Charges and Preferred Stock Dividends
The Company's consolidated ratios of earnings to combined fixed charges and
preferred stock dividends for each of the periods indicated are set fourth
below:
<TABLE>
<CAPTION>
Quarter Ended Nine Months Ended
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Sept. 30, June 31, Mar. 31, Dec. 30, Sept. 30, September 30,
2000 2000 1999 1999 1999 2000 1999
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(In millions)
<S> <C> <C> <C> <C> <C> <C> <C>
Income before income taxes $ 111.7 $ 108.9 $ 98.1 $ 98.6 $ 103.3 $ 318.7 $ 272.2
Combined fixed charges and preferred
stock dividends:
Interest expense of deposits 130.0 125.8 124.3 125.4 121.6 380.1 356.0
Interest expense of long-term debt 2.6 3.3 3.4 3.4 3.5 9.3 10.5
Interest expense on guaranteed
preferred beneficial interest in
Company's junior subordinated
debentures 4.6 4.5 4.6 4.6 4.6 13.7 13.8
Appropriate portion (1/3) of rent
expense 1.7 1.7 1.7 2.1 1.9 5.1 5.6
-------- --------- -------- --------- --------- --------- ---------
Total combined fixed charges and preferred
stock dividends $ 138.9 $ 135.3 $ 134.0 $ 135.5 $ 131.6 $ 408.2 $ 385.9
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Total combined fixed charges and preferred
stock dividends (excluding interest
expense on deposits) $ 8.9 $ 9.5 $ 9.7 $ 10.1 $ 10.0 $ 28.1 29.9
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Earnings before income taxes and combined
fixed charges and preferred stock
dividends $ 250.6 $ 244.2 $ 232.1 $ 234.1 $ 234.9 $ 726.9 $ 658.1
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Ratio of earnings to combined fixed
charges and preferred stock dividends
(including interest expense on deposits) 1.80 x 1.80 x 1.73 x 1.73 x 1.78 x 1.78 x 1.71 x
======== ========= ======== ========= ========= ========= =========
Ratio of earnings to combined fixed
charges and preferred stock dividends
(excluding interest expense on deposits) 13.55 x 12.46 x 11.11 x 10.76 x 11.33 x 12.34 x 10.10 x
======== ========= ======== ========= ========= ========= =========
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