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EXHIBIT 11
PNC BANK CORP. AND SUBSIDIARIES
CALCULATION OF PRIMARY AND FULLY DILUTED EARNINGS PER COMMON SHARE
Three months ended March 31
In thousands, except per share data 1996 1995
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CALCULATION OF PRIMARY EARNINGS PER COMMON SHARE
Net income $238,320 $179,547
Less: Preferred dividends declared 358 1,299
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Net income applicable to primary earnings per common share $237,962 $178,248
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Weighted average shares of common stock outstanding 341,402 339,240
Weighted average common shares to be issued using average market price and assuming:
Exercise of stock options 1,470 2,500
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Primary weighted average common shares outstanding 342,872 341,740
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PRIMARY EARNINGS PER COMMON SHARE $.69 $.52
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CALCULATION OF FULLY DILUTED EARNINGS PER COMMON SHARE
Net income $238,320 $179,547
Add: Interest expense on convertible debentures (net of tax) 859 990
Less: Dividends declared on non-convertible preferred stock 906
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Net income applicable to fully diluted earnings per common share $239,179 $179,631
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Weighted average shares of common stock outstanding 341,402 339,240
Weighted average common 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 180 208
Conversion of preferred stock Series C 574 651
Conversion of preferred stock Series D 777 833
Conversion of debentures 2,863 3,187
Exercise of stock options 1,571 2,889
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Fully diluted weighted average common shares outstanding 347,367 347,008
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FULLY DILUTED EARNINGS PER COMMON SHARE $.69 $.52
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