EXHIBIT 12.2 PNC BANK CORP. COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (In thousands)
Year Ended December 31, ------------------------------------------------------------------------------- 1993 1992 1991 1990 1989 ---------- ---------- ---------- ---------- ---------- Earnings: Income before income taxes and cumulative effect of changes in accounting principles.. $1,116,612 $ 778,122 $ 548,201 $ 29,425 $ 485,264 Fixed charges and preferred stock dividends excluding interest on deposits ............. 652,432 521,907 518,005 922,156 873,248 ---------- ---------- ---------- ---------- ---------- Subtotal.................................... 1,769,044 1,300,029 1,066,206 951,581 1,358,512 Interest on deposits ........................ 742,772 1,063,422 1,727,765 1,973,087 1,907,769 ---------- ---------- ---------- ---------- ---------- Total ...................................... $2,511,816 $2,363,451 $2,793,971 $2,924,668 $3,266,281 ========== ========== ========== ========== ========== Fixed charges: Interest on notes and debentures............. $ 265,352 $ 145,124 $ 95,207 $ 84,045 $ 61,590 Interest on borrowed funds................... 362,995 352,162 398,779 816,448 788,520 Amortization of notes and debentures ........ 967 970 584 538 506 Interest component of rentals ............... 20,584 19,167 18,800 17,667 16,467 Preferred stock dividend requirements........ 2,534 4,484 4,634 3,458 6,165 ---------- ---------- ---------- ---------- ---------- Subtotal.................................... 652,432 521,907 518,005 922,156 873,248 Interest on deposits......................... 742,772 1,063,422 1,727,765 1,973,087 1,907,769 ---------- ---------- ---------- ---------- ---------- Total....................................... $1,395,204 $1,585,329 $2,245,770 $2,895,243 $2,781,017 ========== ========== ========== ========== ========== Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends: Excluding interest on deposits .............. 2.71x 2.49x 2.06x 1.03x 1.56x Including interest on deposits............... 1.80 1.49 1.24 1.01 1.17