EXHIBIT 12.2 PNC BANK CORP. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
Year ended December 31 Three months ended --------------------------------------------------------------------- Dollars in thousands March 31, 1996 1995 1994 1993 1992 1991 - ---------------------------------------------------------------------------------------------------------------------------------- EARNINGS Income before taxes and cumulative effect of changes in accounting principles $362,773 $627,012 $1,209,916 $1,140,487 $787,994 $(38,578) Fixed charges and preferred stock dividends excluding interest on deposits 285,947 1,492,391 1,112,564 712,339 592,902 624,000 -------------------------------------------------------------------------------------- Subtotal 648,720 2,119,403 2,322,480 1,852,826 1,380,896 585,422 Interest on deposits 370,983 1,551,816 1,159,242 1,005,658 1,546,576 2,739,565 -------------------------------------------------------------------------------------- Total $1,019,703 $3,671,219 $3,481,722 $2,858,484 $2,927,472 $3,324,987 ====================================================================================== FIXED CHARGES Interest on notes and debentures $164,837 $620,415 $556,432 $316,031 $201,977 $137,323 Interest on borrowed funds 112,457 834,654 514,133 360,288 353,633 449,107 Amortization of notes and debentures 204 927 1,761 1,418 1,505 1,119 Interest component of rentals 7,908 31,283 32,247 26,491 25,739 26,041 Preferred stock dividend requirements 541 5,112 7,991 8,111 10,048 10,410 -------------------------------------------------------------------------------------- Subtotal 285,947 1,492,391 1,112,564 712,339 592,902 624,000 Interest on deposits 370,983 1,551,816 1,159,242 1,005,658 1,546,576 2,739,565 -------------------------------------------------------------------------------------- Total $656,930 $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 2.27x 1.42x 2.09x 2.60x 2.33x .94x Including interest on deposits 1.55 1.21 1.53 1.66 1.37 .99 ==================================================================================================================================