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EXHIBIT 12.1
PNC BANK CORP.
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
(In thousands)
Year Ended December 31
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1993 1992 1991 1990 1989
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Earnings:
Income before income taxes and cumulative
effect of changes in accounting principles $1,116,612 $ 778,122 $ 548,201 $ 29,425 $ 485,264
Fixed charges excluding interest
on deposits ......................... 649,897 517,423 513,370 918,698 867,083
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Subtotal............................ 1,766,509 1,295,545 1,061,571 948,123 1,352,347
Interest on deposits ................ 742,772 1,063,422 1,727,765 1,973,087 1,907,769
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Total............................... $2,509,281 $2,358,967 $2,789,336 $2,921,210 $3,260,116
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Fixed charges:
Interest on notes and debentures..... $ 265,352 $ 145,124 $ 95,207 $ 84,045 $ 61,590
Interest on borrowed funds........... 362,995 352,162 398,779 816,448 788,520
Amortization of notes and debentures. 967 970 584 538 506
Interest component of rentals ....... 20,583 19,167 18,800 17,667 16,467
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Subtotal............................ 649,897 517,423 513,370 918,698 867,083
Interest on deposits................. 742,772 1,063,422 1,727,765 1,973,087 1,907,769
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Total............................... $1,392,669 $1,580,845 $2,241,135 $2,891,785 $2,774,852
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Ratio of Earnings to Fixed Charges:
Excluding interest on deposits ..... 2.72x 2.50x 2.07x 1.03x 1.56x
Including interest on deposits....... 1.80 1.49 1.24 1.01 1.17