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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:
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QUARTER ENDED SIX MONTHS ENDED
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JUNE 30, MAR. 31, DEC. 31, SEPT. 30, JUNE 30, JUNE 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 $ 108.9 $ 98.1 $ 98.6 $ 103.3 $ 100.2 $ 207.0 $ 168.9
Combined fixed charges and
preferred stock dividends:
Interest expense of
deposits 125.8 124.3 125.4 121.6 118.5 250.1 234.4
Interest expense of
long-term debt 3.3 3.4 3.4 3.5 3.5 6.7 7.0
Interest expense on
guaranteed preferred
beneficial interest in
Company's junior
subordinated debentures 4.5 4.6 4.6 4.6 4.6 9.1 9.2
Appropriate portion (1/3)
of rent expense 1.7 1.7 2.1 1.9 1.9 3.4 3.7
Total combined fixed charges
and preferred stock
dividends $ 135.3 $ 134.0 $ 135.5 $ 131.6 $ 128.5 $ 269.3 $ 254.3
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Total combined fixed charges
and preferred stock
dividends (excluding
interest expense on
deposits) $ 9.5 $ 9.7 $ 10.1 $ 10.0 $ 10.0 $ 19.2 $ 19.9
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Earnings before income taxes
and combined fixed charges
and preferred stock
dividends $ 244.2 $ 232.1 $ 234.1 $ 234.9 $ 228.7 $ 476.3 $ 423.2
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Ratio of earnings to
combined fixed charges and
preferred stock dividends
(including interest
expense on deposits) 1.80 x 1.73 x 1.73 x 1.78 x 1.78 x 1.77 x 1.66 x
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Ratio of earnings to
combined fixed charges and
preferred stock dividends
(excluding interest
expense on deposits) 12.46 x 11.11 x 10.76 x 11.33 x 11.02 x 11.78 x 9.49 x
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