PNC BANK CORP. AND SUBSIDIARIES EXHIBIT 12.2 COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
Year ended December 31 Dollars in thousands 1995 1994 1993 1992 1991 - ------------------------------------------------------------------------------------------------------------------------------- EARNINGS Income before taxes and cumulative effect of changes in accounting principles $627,012 $1,209,916 $1,140,487 $787,994 $(38,578) Fixed charges and preferred stock dividends excluding interest on deposits 1,492,391 1,112,564 712,339 592,902 624,000 -------------------------------------------------------------------- Subtotal 2,119,403 2,322,480 1,852,826 1,380,896 585,422 Interest on deposits 1,551,816 1,159,242 1,005,658 1,546,576 2,739,565 -------------------------------------------------------------------- Total $3,671,219 $3,481,722 $2,858,484 $2,927,472 $3,324,987 ==================================================================== FIXED CHARGES Interest on notes and debentures $620,415 $556,432 $316,031 $201,977 $137,323 Interest on borrowed funds 834,654 514,133 360,288 353,633 449,107 Amortization of notes and debentures 927 1,761 1,418 1,505 1,119 Interest component of rentals 31,283 32,247 26,491 25,739 26,041 Preferred stock dividend requirements 5,112 7,991 8,111 10,048 10,410 -------------------------------------------------------------------- Subtotal 1,492,391 1,112,564 712,339 592,902 624,000 Interest on deposits 1,551,816 1,159,242 1,005,658 1,546,576 2,739,565 -------------------------------------------------------------------- Total $3,044,207 $2,271,806 $1,717,997 $2,139,478 $3,363,565 ==================================================================== RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Excluding interest on deposits 1.42x 2.09x 2.60x 2.33x .94x Including interest on deposits 1.21 1.53 1.66 1.37 .99 ===============================================================================================================================