EXHIBIT 11 PNC BANK CORP. AND SUBSIDIARIES CALCULATION OF PRIMARY AND FULLY DILUTED EARNINGS PER COMMON SHARE
Three months ended Six months ended June 30 June 30 ----------------------- ---------------------- In thousands, except per share data 1995 1994 1995 1994 -------------------------------------------------------------------------------------------------------------------------- PRIMARY WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Weighted average shares of common stock outstanding 228,607 235,320 230,000 235,093 Weighted average common shares to be issued using average market price and assuming exercise of stock options 1,571 1,921 1,388 1,881 Primary weighted average common shares outstanding 230,178 237,241 231,388 236,974 ========================================================== FULLY DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Weighted average shares of common stock outstanding 228,607 235,320 230,000 235,093 Weighted average commons shares to be issued using average market price or period-end market price, whichever is higher, and assuming: Conversion of preferred stock Series A & B 199 223 204 232 Conversion of preferred stock Series C 614 684 632 694 Conversion of preferred stock Series D 826 864 829 869 Conversion of debentures 67 74 68 74 Exercise of stock options 1,647 1,921 1,679 1,925 ---------------------------------------------------------- Fully diluted weighted average common shares outstanding 231,960 239,086 233,412 238,887 ========================================================== PRIMARY EARNINGS PER COMMON SHARE Net income $136,988 $187,845 $262,639 $393,534 Less: Preferred dividends declared 381 410 774 829 ---------------------------------------------------------- Net income applicable to primary earnings per common share $136,607 $187,435 $261,865 $392,705 Primary earnings per common share $ .59 $ .79 $ 1.13 $ 1.66 ========================================================== FULLY DILUTED EARNINGS PER COMMON SHARE Net income $136,988 $187,845 $262,639 $393,534 Add: Interest expense on convertible debentures (net of tax) 13 13 24 24 ---------------------------------------------------------- Net income applicable to fully diluted earnings per common share $137,001 $187,858 $262,663 $393,559 Fully diluted earnings per common share $ .59 $ .79 $ 1.13 $ 1.65 --------------------------------------------------------------------------------------------------------------------------
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