NationsBank Corporation and Subsidiaries Exhibit 12(b) Ratio of Earnings to Fixed Charges and Preferred Dividends (Dollars in Millions)

Year Ended December 31 -------------------------------------------- Six Months Ended June 30, 1995 1994 1993 1992 1991 1990 --------------- -------- -------- -------- -------- -------- Excluding Interest on Deposits ------------------------------ Income before taxes......................... $ 1,385 $ 2,555 $ 1,991 $ 1,396 $ 109 $ 625 Equity in undistributed earnings of unconsolidated subsidiaries............ (3) (3) (5) (1) (1) (1) Fixed charges: Interest expense (including capitalized interest)............... 2,188 2,896 1,421 916 1,291 1,852 Amortization of debt discount and appropriate issuance costs.......... 4 8 6 3 2 3 1/3 of net rent expense............... 62 114 96 91 82 66 --------------- -------- -------- -------- -------- -------- Total fixed charges................. 2,254 3,018 1,523 1,010 1,375 1,921 Preferred dividend requirements............. 6 15 16 29 31 38 Earnings (excluding capitalized interest)... $ 3,636 $ 5,570 $ 3,509 $ 2,398 $ 1,471 $ 2,533 =============== ======== ======== ======== ======== ======== Fixed charges............................... $ 2,260 $ 3,033 $ 1,539 $ 1,039 $ 1,406 $ 1,959 =============== ======== ======== ======== ======== ======== Ratio of Earnings to Fixed Charges.......... 1.61 1.84 2.28 2.31 1.05 1.29 Including Interest on Deposits ------------------------------ Income before taxes......................... $ 1,385 $ 2,555 $ 1,991 $ 1,396 $ 109 $ 625 Equity in undistributed earnings of unconsolidated subsidiaries............ (3) (3) (5) (1) (1) (1) Fixed charges: Interest expense (including capitalized interest)............... 3,814 5,310 3,570 3,688 5,611 6,683 Amortization of debt discount and appropriate issuance costs.......... 4 8 6 3 2 3 1/3 of net rent expense............... 62 114 96 91 82 66 --------------- -------- -------- -------- -------- -------- Total fixed charges................. 3,880 5,432 3,672 3,782 5,695 6,752 Preferred dividend requirements............. 6 15 16 29 31 38 Earnings (excluding capitalized interest)... $ 5,262 $ 7,984 $ 5,658 $ 5,170 $ 5,791 $ 7,365 =============== ======== ======== ======== ======== ======== Fixed charges............................... $ 3,886 $ 5,447 $ 3,688 $ 3,811 $ 5,726 $ 6,790 =============== ======== ======== ======== ======== ======== Ratio of Earnings to Fixed Charges.......... 1.35 1.47 1.53 1.36 1.01 1.08

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