PNC BANK CORP. AND SUBSIDIARIES EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
Year ended December 31
Dollars in thousands 1998 1997 1996 1995 1994
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EARNINGS
Income before taxes and cumulative effect of changes in
accounting principles $1,709,778 $1,618,599 $1,527,551 $627,012 $1,209,916
Fixed charges excluding interest on deposits 1,365,605 1,171,648 1,096,893 1,487,279 1,104,573
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Subtotal 3,075,383 2,790,247 2,624,444 2,114,291 2,314,489
Interest on deposits 1,471,108 1,456,587 1,428,771 1,551,816 1,159,242
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Total $4,546,491 $4,246,834 $4,053,215 $3,666,107 $3,473,731
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FIXED CHARGES
Interest on borrowed funds $1,266,968 $1,098,365 $1,064,847 $1,455,069 $1,070,565
Interest component of rentals 37,374 29,312 29,839 31,283 32,247
Amortization of notes and debentures 1,394 833 816 927 1,761
Distributions on Mandatorily Redeemable Capital
Securities of Subsidiary Trusts 59,869 43,138 1,391
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Subtotal 1,365,605 1,171,648 1,096,893 1,487,279 1,104,573
Interest on deposits 1,471,108 1,456,587 1,428,771 1,551,816 1,159,242
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Total $2,836,713 $2,628,235 $2,525,664 $3,039,095 $2,263,815
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RATIO OF EARNINGS TO FIXED CHARGES
Excluding interest on deposits 2.25x 2.38x 2.39x 1.42x 2.10x
Including interest on deposits 1.60 1.62 1.60 1.21 1.53
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