PNC BANK CORP. AND SUBSIDIARIES EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS
TO COMBINED FIXED CHARGES
Three months
ended Year ended December 31
March 31, ------------------------------------------------------------------
Dollars in thousands 1998 1997 1996 1995 1994 1993
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EARNINGS
Income before taxes and cumulative effect of
changes in accounting principles $ 405,079 $1,618,599 $1,527,551 $ 627,012 $1,209,916 $1,140,487
Fixed charges excluding interest on deposits 301,208 1,171,648 1,096,893 1,487,279 1,104,57 704,228
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Subtotals 706,287 2,790,247 2,624,444 2,114,291 2,314,489 1,844,715
Interest on deposits 361,522 1,456,587 1,428,771 1,551,816 1,159,242 1,005,658
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Total $1,067,809 $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 $ 292,362 $1,098,365 $1,064,847 $1,455,069 $1,070,565 $ 676,319
Interest component of rentals 8,614 29,312 29,839 31,283 32,247 26,491
Amortization of notes and debentures 219 833 816 927 1,761 1,418
Distributions on Mandatorily Redeemable
Capital Securities of Subsidiary Trust 13 43,138 1,391
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Subtotal 301,208 1,171,648 1,096,893 1,487,279 1,104,573 704,228
Interest on deposits 361,522 1,456,587 1,428,771 1,551,816 1,159,242 1,005,658
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Total $ 662,730 $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 2.34x 2.38x 2.39x 1.42x 2.10x 2.62x
Including interest on deposits 1.61 1.62 1.60 1.21 1.53 1.67
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