EXHIBIT 11
PNC BANK CORP. AND SUBSIDIARIES
CALCULATION OF PRIMARY AND FULLY DILUTED EARNINGS PER COMMON SHARE
Three months ended Six months ended
June 30 June 30
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In thousands, except per share data 1997 1996 1997 1996
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CALCULATION OF PRIMARY EARNINGS PER COMMON SHARE
Net income $259,075 $248,050 $525,384 $486,370
Less: Preferred dividends declared 4,870 350 9,744 708
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Net income applicable to primary earnings per common share $254,205 $247,700 $515,640 $485,662
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Weighted average shares of common stock outstanding 310,303 341,618 316,146 341,510
Weighted average common shares to be issued
using average market price and assuming:
Exercise of stock options 1,665 1,404 1,792 1,439
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Primary weighted average common shares outstanding 311,968 343,022 317,938 342,949
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PRIMARY EARNINGS PER COMMON SHARE $.81 $.72 $1.62 $1.42
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CALCULATION OF FULLY DILUTED EARNINGS PER COMMON SHARE
Net income $259,075 $248,050 $525,384 $486,370
Add: Interest expense on convertible debentures (net of tax) 758 865 1,527 1,723
Less: Dividends declared on non-convertible preferred stock 4,538 9,075
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Net income applicable to fully diluted earnings per common share $255,295 $248,915 $517,836 $488,093
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Weighted average shares of common stock outstanding 310,303 341,618 316,146 341,510
Weighted average common shares to be issued using
average market price or period-end market price,
whichever is higher and assuming:
Conversion of preferred stock Series A & B 164 174 166 177
Conversion of preferred stock Series C 534 566 538 570
Conversion of preferred stock Series D 722 760 727 768
Conversion of debentures 2,466 2,821 2,485 2,842
Exercise of stock options 1,688 1,404 1,829 1,439
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Fully diluted weighted average common shares outstanding 315,877 347,343 321,891 347,306
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FULLY DILUTED EARNINGS PER COMMON SHARE $.81 $.72 $1.61 $1.41
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