EXHIBIT 12.2 PNC BANK CORP. COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
Six months Year ended December 31 ended ------------------------------------------------------------------ In thousands, except ratios June 30, 1994 1993 1992 1991 1990 1989 ------------- ---------- ---------- ---------- ---------- ---------- EARNINGS Income before income taxes and cumulative effect of changes in accounting principles.. $ 581,905 $1,116,612 $ 778,122 $ 548,201 $ 29,425 $ 485,264 Fixed charges and preferred stock dividends excluding interest on deposits.............. 436,363 652,432 521,908 518,004 922,156 873,248 ---------- ---------- ---------- ---------- ---------- ---------- Subtotal................................... 1,018,268 1,769,044 1,300,030 1,066,205 951,581 1,358,512 Interest on deposits......................... 417,516 742,772 1,063,422 1,727,765 1,973,087 1,907,769 ---------- ---------- ---------- ---------- ---------- ---------- Total...................................... $1,435,784 $2,511,816 $2,363,452 $2,793,970 $2,924,668 $3,266,281 ========== ========== ========== ========== ========== ========== FIXED CHARGES Interest on notes and debentures............. $ 214,286 $ 265,353 $ 145,125 $ 95,207 $ 84,045 $ 61,590 Interest on borrowed funds................... 207,311 362,995 352,162 398,779 816,448 788,520 Amortization of notes and debentures......... 685 967 970 584 538 506 Interest component of rentals................ 12,855 20,583 19,167 18,800 17,667 16,467 Preferred stock dividend requirements........ 1,226 2,534 4,484 4,634 3,458 6,165 ---------- ---------- ---------- ---------- ---------- ---------- Subtotal................................... 436,363 652,432 521,908 518,005 922,156 873,248 Interest on deposits......................... 417,516 742,772 1,063,422 1,727,765 1,973,087 1,907,769 ---------- ---------- ---------- ---------- ---------- ---------- Total...................................... $ 853,879 $1,395,204 $1,585,330 $2,245,769 $2,895,243 $2,781,017 ========== ========== ========== ========== ========== ========== RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Excluding interest on deposits.............. 2.33x 2.71x 2.49x 2.06x 1.03x 1.56x Including interest on deposits.............. 1.68 1.80 1.49 1.24 1.01 1.17