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
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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
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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
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Total $3,189,461 $4,061,646 $3,671,219 $3,481,722 $2,858,484 $2,927,472
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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
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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
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Total $1,980,865 $2,534,095 $3,044,207 $2,271,806 $1,717,997 $2,139,478
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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
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