PNC BANK CORP. EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
Three Year ended December 31
months ended -------------------------------------------------------------------
Dollars in millions March 31, 1999 1998 1997 1996 1995 1994
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EARNINGS
Income before taxes and cumulative effect
of changes in accounting principles $488 $1,710 $1,618 $1,527 $627 $1,209
Fixed charges excluding interest on deposits 309 1,366 1,171 1,098 1,487 1,104
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Subtotal 797 3,076 2,789 2,625 2,114 2,313
Interest on deposits 351 1,471 1,457 1,428 1,552 1,160
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Total $1,148 $4,547 $4,246 $4,053 $3,666 $3,473
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FIXED CHARGES
Interest on borrowed funds $281 $1,267 $1,098 $1,065 $1,454 $1,071
Interest component of rentals 12 37 29 31 32 32
Amortization of notes and debentures 2 1 1 1 1
Distributions on Mandatorily Redeemable
Capital Securities of Subsidiary Trusts 16 60 43 1
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Subtotal 309 1,366 1,171 1,098 1,487 1,104
Interest on deposits 351 1,471 1,457 1,428 1,552 1,160
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Total $660 $2,837 $2,628 $2,526 $3,039 $2,264
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RATIO OF EARNINGS TO FIXED CHARGES
Excluding interest on deposits 2.58 x 2.25 x 2.38 x 2.39 x 1.42 x 2.10 x
Including interest on deposits 1.74 1.60 1.62 1.60 1.21 1.53
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