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, 1997 1996 1995 1994 1993 1992
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EARNINGS
Income before taxes and cumulative effect of changes
in accounting principles $1,208,596 $1,527,551 $627,012 $1,209,916 $1,140,487 $787,994
Fixed charges excluding interest on deposits 871,382 1,096,893 1,487,279 1,104,573 704,228 582,854
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Subtotal 2,079,978 2,624,444 2,114,291 2,314,489 1,844,715 1,370,848
Interest on deposits 1,087,015 1,428,771 1,551,816 1,159,242 1,005,658 1,546,576
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Total $3,166,993 $4,053,215 $3,666,107 $3,473,731 $2,850,373 $2,917,424
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FIXED CHARGES
Interest on borrowed funds $819,022 $1,064,847 $1,455,069 $1,070,565 $676,319 $555,610
Interest component of rentals 21,739 29,839 31,283 32,247 26,491 25,739
Amortization of borrowed funds 606 816 927 1,761 1,418 1,505
Distributions on capital securities 30,015 1,391
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Subtotal 871,382 1,096,893 1,487,279 1,104,573 704,228 582,854
Interest on deposits 1,087,015 1,428,771 1,551,816 1,159,242 1,005,658 1,546,576
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Total $1,958,397 $2,525,664 $3,039,095 $2,263,815 $1,709,886 $2,129,430
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RATIO OF EARNINGS TO FIXED CHARGES
Excluding interest on deposits 2.39x 2.39x 1.42x 2.10x 2.62x 2.35x
Including interest on deposits 1.62 1.60 1.21 1.53 1.67 1.37
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