Exhibit 99


CONTACTS:

MEDIA:
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Jonathan Williams
(412) 762-4550

INVESTORS:
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William H. Callihan
(412) 762-8257

         PNC BANK CORP. PROVIDES PRELIMINARY ESTIMATE OF 1995 EARNINGS
             REFLECTING BALANCE SHEET ACTIONS AND MIDLANTIC MERGER

     PITTSBURGH, Jan. 2, 1996-PNC Bank Corp. (NYSE: PNC) today announced the
completion of actions taken during the fourth quarter of 1995 that enhanced the
corporation's balance sheet and are expected to positively impact future
operating results.


     Commenting on the strategic importance of the fourth-quarter actions,
Thomas H. O'Brien, chairman and chief executive officer, said, "We have
accelerated our balance sheet restructuring by substantially reducing our
securities portfolio and related derivative positions. The acquisitions of
Midlantic Corporation and Chemical Bank New Jersey have provided us with more
stable consumer deposits, reducing the need for wholesale funding, and have
added attractive middle-market and consumer assets. These actions create a
financial institution with a more stable and consistent earnings stream, capable
of sustaining superior returns."

                SECURITIES SALES AND OTHER BALANCE SHEET ACTIONS

     The company reported that during the fourth quarter of 1995 it had
accelerated and substantially completed the repositioning of its balance sheet
through further reduction of the securities portfolio, to approximately 23
percent of earning assets, and related wholesale funding, to approximately 28
percent of total funding.

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PNC Bank Corp. Provides Preliminary Estimate of 1995 Earnings...--Page 2

     All investment securities previously classified as held to maturity were
reclassified as available for sale, as permitted by recently issued guidance
from the Financial Accounting Standards Board (FASB). Subsequently, $1.9 billion
of U.S. Treasury securities and $4.1 billion of collateralized mortgage
obligations (CMOs) were liquidated at an after-tax net loss of approximately $40
million. In addition, PNC Bank terminated all remaining pay-fixed interest rate
swaps associated with such securities. As a result, after-tax losses
approximating $150 million were recognized from the termination of these swap
contracts, including accelerated recognition of deferred losses on contracts
previously terminated.

     During the fourth quarter, PNC Bank also terminated $4.4 billion of
receive-fixed index amortizing swaps, resulting in a net after-tax loss of $8
million, which is being deferred and amortized. 

                                MIDLANTIC MERGER

     The corporation completed the merger with Midlantic Corporation effective
Dec. 31, 1995. Under the terms of the merger agreement, PNC Bank exchanged 2.05
shares of common stock for each share of Midlantic common stock, or a total of
approximately 112 million shares of PNC Bank stock. Letters of transmittal
informing Midlantic shareholders how to complete the exchange are being mailed
beginning today. The merger was accounted for as a pooling of interests;
accordingly, all combined financial information has been restated to account for
the transaction on this basis.

     "The merger with Midlantic significantly expands our presence in the New
Jersey and greater Philadelphia markets and is expected to be accretive to
earnings in 1996," said O'Brien.

     Midlantic Bank will continue to operate under its present name as a
subsidiary of PNC Bank Corp. until integration and consolidation plans are fully
implemented later this year.

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PNC Bank Corp. Provides Preliminary Estimate of 1995 Earnings...--Page 3

     In connection with the merger, PNC Bank recorded after-tax charges of
approximately $190 million. These charges are primarily associated with
eliminating duplicative operations and facilities, the termination of interest
rate caps and the write-off of state-deferred tax assets.

                        ESTIMATED COMBINED 1995 EARNINGS

     Prior to reflecting charges recorded in connection with the merger and
losses from the initiatives to reposition the balance sheet, the combined
earnings of the companies for 1995 are estimated to be $790 million or $2.28 per
fully diluted share. Reflecting these actions, PNC Bank Corp. expects to report
net income for the year of $410 million of $1.18 per fully diluted share. With
the completion of the Midlantic merger and reflecting the fourth-quarter balance
sheet actions, PNC Bank Corp. had assets of approximately $72 billion and
deposits of approximately $46 billion.

     PNC Bank Corp., headquartered in Pittsburgh, is one of the largest
financial services organizations in the United States, with banking subsidiaries
in Pennsylvania, New Jersey, Delaware, Ohio, Kentucky, Indiana, Massachusetts
and Florida. Its major businesses include corporate banking, consumer banking,
mortgage banking and asset management.

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