PNC BANK CORP. AND SUBSIDIARIES EXHIBIT 12.2
COMPUTATION OF RATIO OF EARNINGS
TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
Year ended December 31
Nine months ended ----------------------------------------------------------------
Dollars in thousands September 30, 1996 1995 1994 1993 1992 1991
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EARNINGS
Income before taxes and cumulative effect of
changes in accounting principles $1,107,728 $627,012 $1,209,916 $1,140,487 $787,994 $(38,578)
Fixed charges and preferred stock dividends
excluding interest on deposits 839,507 1,492,391 1,112,564 712,339 592,902 624,000
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Subtotal 1,947,235 2,119,403 2,322,480 1,852,826 1,380,896 585,422
Interest on deposits 1,073,786 1,551,816 1,159,242 1,005,658 1,546,576 2,739,565
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Total $3,021,021 $3,671,219 $3,481,722 $2,858,484 $2,927,472 $3,324,987
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FIXED CHARGES
Interest on notes and debentures $513,853 $620,415 $556,432 $316,031 $201,977 $137,323
Interest on borrowed funds 300,292 834,654 514,133 360,288 353,633 449,107
Amortization of notes and debentures 612 927 1,761 1,418 1,505 1,119
Interest component of rentals 23,127 31,283 32,247 26,491 25,739 26,041
Preferred stock dividend requirements 1,623 5,112 7,991 8,111 10,048 10,410
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Subtotal 839,507 1,492,391 1,112,564 712,339 592,902 624,000
Interest on deposits 1,073,786 1,551,816 1,159,242 1,005,658 1,546,576 2,739,565
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Total $1,913,293 $3,044,207 $2,271,806 $1,717,997 $2,139,478 $3,363,565
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RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
Excluding interest on deposits 2.32x 1.42x 2.09x 2.60x 2.33x .94x
Including interest on deposits 1.58 1.21 1.53 1.66 1.37 .99
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