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, 1998 1997 1996 1995 1994 1993 ---------------------------------------------------------------------------------------- Excluding Interest on Deposits - ----------------------------------------------- Income before taxes $ 836 $ 5,230 $ 4,536 $ 3,810 $ 3,293 $ 2,619 Equity in undistributed (earnings) losses of unconsolidated subsidiaries (1) - 2 (7) (3) (5) Fixed charges: Interest expense (including capitalized interest) 1,531 5,060 4,342 4,706 3,056 1,512 Amortization of debt discount and appropriate issuance costs 5 19 20 12 8 6 1/3 of net rent expense 46 180 157 155 141 129 --------- -------------------------------------------------------------------------- Total fixed charges 1,582 5,259 4,519 4,873 3,205 1,647 Preferred dividend requirements 3 17 25 37 43 43 Earnings (excluding capitalized interest) $ 2,417 $ 10,489 $ 9,057 $ 8,676 $ 6,495 $ 4,261 ========= ========================================================================= Fixed charges $ 1,585 $ 5,276 $ 4,544 $ 4,910 $ 3,248 $ 1,690 ========= ========================================================================= Ratio of Earnings to Fixed Charges 1.52 1.99 1.99 1.77 2.00 2.52 Including Interest on Deposits - ------------------------------ Income before taxes $ 836 $ 5,230 $ 4,536 $ 3,810 $ 3,293 $ 2,619 Equity in undistributed (earnings) losses - ----------------------------------------------- of unconsolidated subsidiaries (1) - 2 (7) (3) (5) Fixed charges: Interest expense (including capitalized interest) 2,734 9,951 8,588 8,980 6,231 4,450 Amortization of debt discount and appropriate issuance costs 5 19 20 12 8 6 1/3 of net rent expense 46 180 157 155 141 129 --------- ------------------------------------------------------------------------- Total fixed charges 2,785 10,150 8,765 9,147 6,380 4,585 Preferred dividend requirements 3 17 25 37 43 43 Earnings (excluding capitalized interest) $ 3,620 $ 15,380 $ 13,303 $ 12,950 $ 9,670 $ 7,199 ========= ========================================================================= Fixed charges $ 2,788 $ 10,167 $ 8,790 $ 9,184 $ 6,423 $ 4,628 ========= ========================================================================= Ratio of Earnings to Fixed Charges 1.30 1.51 1.51 1.41 1.51 1.56

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