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

Three Months -------------------Year Ended December 31---------------- Ended March 31, 1996 1995 1994 1993 1992 1991 -------------------------------------------------------------------------- Excluding Interest on Deposits - ------------------------------------------- Income before taxes........................... $ 789 $ 2,991 $ 2,555 $ 1,991 $ 1,396 $ 109 Equity in undistributed earnings of unconsolidated subsidiaries.............. (2) (7) (3) (5) (1) (1) Fixed charges: Interest expense (including capitalized interest)....................... 1,153 4,480 2,896 1,421 916 1,291 Amortization of debt discount and appropriate issuance costs.................. 5 12 8 6 3 2 1/3 of net rent expense....................... 31 125 114 96 91 82 ------------------------------------------------------------------------ Total fixed charges...................... 1,189 4,617 3,018 1,523 1,010 1,375 Preferred dividend requirements............... 6 13 15 16 29 31 Earnings (excluding capitalized interest)..... $ 1,976 $ 7,601 $ 5,570 $ 3,509 $ 2,398 $ 1,471 ======================================================================== Fixed charges................................. $ 1,195 $ 4,630 $ 3,033 $ 1,539 $ 1,039 $ 1,406 ======================================================================== Ratio of Earnings to Fixed Charges............ 1.65 1.64 1.84 2.28 2.31 1.05 Including Interest on Deposits - ---------------------------------------------- Income before taxes........................... $ 789 $ 2,991 $ 2,555 $ 1,991 $ 1,396 $ 109 Equity in undistributed earnings of unconsolidated subsidiaries.............. (2) (7) (3) (5) (1) (1) Fixed charges: Interest expense (including capitalized interest)....................... 2,011 7,761 5,310 3,570 3,688 5,611 Amortization of debt discount and appropriate issuance costs.................. 5 12 8 6 3 2 1/3 of net rent expense....................... 31 125 114 96 91 82 ------------------------------------------------------------------------ Total fixed charges................... 2,047 7,898 5,432 3,672 3,782 5,695 Preferred dividend requirements............... 6 13 15 16 29 31 Earnings (excluding capitalized interest)..... $ 2,834 $ 10,882 $ 7,984 $ 5,658 $ 5,170 $ 5,791 ======================================================================== Fixed charges................................. $ 2,053 $ 7,911 $ 5,447 $ 3,688 $ 3,811 $ 5,726 ======================================================================== Ratio of Earnings to Fixed Charges............ 1.38 1.38 1.47 1.53 1.36 1.01 45