PNC BANK CORP. AND SUBSIDIARIES EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS
TO COMBINED FIXED CHARGES
Year ended December 31
Dollars in thousands 1997 1996 1995 1994 1993
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EARNINGS
Income before taxes and cumulative effect of changes in accounting
principles $1,618,599 $1,527,551 $627,012 $1,209,916 $1,140,487
Fixed charges excluding interest on deposits 1,171,648 1,096,893 1,487,279 1,104,573 704,228
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Subtotal 2,790,247 2,624,444 2,114,291 2,314,489 1,844,715
Interest on deposits 1,456,587 1,428,771 1,551,816 1,159,242 1,005,658
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Total $4,246,834 $4,053,215 $3,666,107 $3,473,731 $2,850,373
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FIXED CHARGES
Interest on borrowed funds $1,098,365 $1,064,847 $1,455,069 $1,070,565 $676,319
Interest component of rentals 29,312 29,839 31,283 32,247 26,491
Amortization of notes and debentures 833 816 927 1,761 1,418
Distributions on Mandatorily Redeemable Capital
Securities of Subsidiary Trust 43,138 1,391
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Subtotal 1,171,648 1,096,893 1,487,279 1,104,573 704,228
Interest on deposits 1,456,587 1,428,771 1,551,816 1,159,242 1,005,658
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Total $2,628,235 $2,525,664 $3,039,095 $2,263,815 $1,709,886
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RATIO OF EARNINGS TO FIXED CHARGES
Excluding interest on deposits 2.38x 2.39x 1.42x 2.10x 2.62x
Including interest on deposits 1.62 1.60 1.21 1.53 1.67
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