Exhibit 12.1

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

	2011 ⁽¹⁾		2010 ⁽²⁾		2009 ⁽³⁾			2008		2007
	(In Thousands)
Earnings:
Net income (loss)	$	1,024	$	7,657	$	(12,824	)	$	6,030	$	8,249
Preferred stock dividends declared		1,669		1,725		816			3,262		4,006
Income taxes		—		—		—			—		—
Interest expense		—		—		—			—		—
	$	2,693	$	9,382	$	(12,008	)	$	9,292	$	12,255
Fixed charges:
Preferred stock dividends declared	$	1,669	$	1,725	$	816		$	3,262	$	4,006
Interest expense		—		—		—			—		—
	$	1,669	$	1,725	$	816		$	3,262	$	4,006
Ratio of earnings to fixed charges		1.61		5.44		(14.72	)		2.85		3.06

(1)		Net income available to common stockholders includes $71 of gains on loans held for sale and $339 of losses on investments.

(2)		Net income available to common stockholders includes $6,498 of gains on loans held for sale.

(3)		Net loss available to common stockholders includes $16,263 of losses on loans held for sale. 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.

EOS Preferred Corp 10-K