CAPITAL CROSSING PREFERRED CORP - FORM 10-K - EX-12.1 - March 31, 2011

Attached files

file	filename
10-K - FORM 10-K - CAPITAL CROSSING PREFERRED CORP	b84091e10vk.htm
EX-32 - EX-32 - CAPITAL CROSSING PREFERRED CORP	b84091exv32.htm
EX-31.2 - EX-31.2 - CAPITAL CROSSING PREFERRED CORP	b84091exv31w2.htm
EX-31.1 - EX-31.1 - CAPITAL CROSSING PREFERRED CORP	b84091exv31w1.htm
EX-23.1 - EX-23.1 - CAPITAL CROSSING PREFERRED CORP	b84091exv23w1.htm

Exhibit 12.1

Computation of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(Unaudited)


		2010(1)				2009 (2)(3)				2008				2007				2006
		(Dollars In Thousands)
Earnings:
Net (loss) income		$	7,657			$	(12,827	)		$	6,030			$	8,249			$	12,120
Preferred stock dividends declared			(1,725	)			(816	)			(3,262	)			(4,006	)			(6,529	)
Income taxes			—				—				—				—				—
Interest expense			—				—				—				—				—

		$	5,932			$	(13,643	)		$	2,768			$	4,243			$	5,591

Fixed charges:
Preferred stock dividends declared		$	1,725			$	816			$	3,262			$	4,006			$	6,529
Interest expense			—				—				—				—				—

		$	1,725			$	816			$	3,262			$	4,006			$	6,529

Ratio of earnings to fixed charges			3.44				(16.72	)			0.85				1.06				0.86


(1)		Net income includes $6,498 of gains on loans held for sale.

(2)		Net loss includes $16,263 of losses on loans held for sale.

(3)		For the year ended December 31, 2009, EOS’ ratio of earnings to combined fixed charges and preferred stock dividends indicated a less than one-to-one coverage. The deficiency was a result of earnings that were $12.0 million less than fixed charges primarily from the loss of $16,263 on loans held for sale.