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, 1997 1996 1995 1994 1993 1992 - ----------------------------------------------------------------------------------------------------------------------------------- EARNINGS Income before taxes and cumulative effect of changes in accounting principles $1,208,596 $1,527,551 $627,012 $1,209,916 $1,140,487 $787,994 Fixed charges and preferred stock dividends excluding interest on deposits 893,850 1,105,324 1,492,391 1,112,564 712,339 592,902 ------------------------------------------------------------------------------ Subtotal 2,102,446 2,632,875 2,119,403 2,322,480 1,852,826 1,380,896 Interest on deposits 1,087,015 1,428,771 1,551,816 1,159,242 1,005,658 1,546,576 ------------------------------------------------------------------------------ Total $3,189,461 $4,061,646 $3,671,219 $3,481,722 $2,858,484 $2,927,472 ============================================================================== FIXED CHARGES Interest on borrowed funds $819,022 $1,064,847 $1,455,069 $1,070,565 $676,319 $555,610 Interest component of rentals 21,739 29,839 31,283 32,247 26,491 25,739 Amortization of borrowed funds 606 816 927 1,761 1,418 1,505 Distributions on capital securities 30,015 1,391 Preferred stock dividends 22,468 8,431 5,112 7,991 8,111 10,048 ------------------------------------------------------------------------------ Subtotal 893,850 1,105,324 1,492,391 1,112,564 712,339 592,902 Interest on deposits 1,087,015 1,428,771 1,551,816 1,159,242 1,005,658 1,546,576 ------------------------------------------------------------------------------ Total $1,980,865 $2,534,095 $3,044,207 $2,271,806 $1,717,997 $2,139,478 ============================================================================== RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Excluding interest on deposits 2.35x 2.38x 1.42x 2.09x 2.60x 2.33x Including interest on deposits 1.61 1.60 1.21 1.53 1.66 1.37 ==================================================================================================================================