Nonperformers Still High But PNC's balance sheet still is not what it was before misguided lending practices came home to roost. Back in the middle to late 1980s, PNC was considered one of the best-quality regional banks, with a return on assets around 1.20%. Assets now total $41.6 billion, but the proportion of nonperforming assets is a lofty 4.6% and chargeoffs are nearly 1.5% of assets Both measures exceed levels at banking companies with the best track records. At Banc One Corp., for example, nonperforming assets are 2.2% of loans. Chargeoffs at Wachovia Corp. are 1.14% of loans. Nonperformers continue to plague PNC. Bad loans cost it $592 million in 1990, when ROA dropped to a meager 0.16%. The outlook is better for |91, partly due to strong feebased revenues and gains on sales of stock. Morgan Stanley & Co. estimates that PNC will earn a profit despite $395 million in loan-related losses.