PNC BANK CORP. AND SUBSIDIARIES EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year ended December 31 Nine months ended ----------------------------------------------------------------- Dollars in thousands September 30, 1996 1995 1994 1993 1992 1991 - ----------------------------------------------------------------------------------------------------------------------------------- EARNINGS Income before taxes and cumulative effect of changes in accounting principles $1,107,728 $627,012 $1,209,916 $1,140,487 $787,994 $(38,578) Fixed charges excluding interest on deposits 837,884 1,487,279 1,104,573 704,228 582,854 613,590 ------------------------------------------------------------------------------- Subtotal 1,945,612 2,114,291 2,314,489 1,844,715 1,370,848 575,012 Interest on deposits 1,073,786 1,551,816 1,159,242 1,005,658 1,546,576 2,739,565 ------------------------------------------------------------------------------- Total $3,019,398 $3,666,107 $3,473,731 $2,850,373 $2,917,424 $3,314,577 ------------------------------------------------------------------------------- FIXED CHARGES Interest on notes and debentures $513,853 $620,415 $556,432 $316,031 $201,977 $137,323 Interest on borrowed funds 300,292 834,654 514,133 360,288 353,633 449,107 Amortization of notes and debentures 612 927 1,761 1,418 1,505 1,119 Interest component of rentals 23,127 31,283 32,247 26,491 25,739 26,041 ------------------------------------------------------------------------------- Subtotal 837,884 1,487,279 1,104,573 704,228 582,854 613,590 Interest on deposits 1,073,786 1,551,816 1,159,242 1,005,658 1,546,576 2,739,565 ------------------------------------------------------------------------------- Total $1,911,670 $3,039,095 $2,263,815 $1,709,886 $2,129,430 $3,353,155 ------------------------------------------------------------------------------- RATIO OF EARNINGS TO FIXED CHARGES Excluding interest on deposits 2.32x 1.42x 2.10x 2.62x 2.35x .94x Including interest on deposits 1.58 1.21 1.53 1.67 1.37 .99 - -----------------------------------------------------------------------------------------------------------------------------------