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
Dollars in thousands 1997 1996 1995 1994 1993
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EARNINGS
Income before taxes and cumulative effect of changes in accounting
principles $1,618,599 $1,527,551 $627,012 $1,209,916 $1,140,487
Fixed charges and preferred stock dividends excluding interest on 1,201,582 1,105,324 1,492,391 1,112,564 712,339
deposits
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Subtotal 2,820,181 2,632,875 2,119,403 2,322,480 1,852,826
Interest on deposits 1,456,587 1,428,771 1,551,816 1,159,242 1,005,658
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Total $4,276,768 $4,061,646 $3,671,219 $3,481,722 $2,858,484
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FIXED CHARGES
Interest on borrowed funds $1,098,365 $1,064,847 $1,455,069 $1,070,565 $676,319
Interest component of rentals 29,312 29,839 31,283 32,247 26,491
Amortization of notes and debentures 833 816 927 1,761 1,418
Distributions on Mandatorily Redeemable Capital Securities
of Subsidiary Trust 43,138 1,391
Preferred stock dividend requirements 29,934 8,431 5,112 7,991 8,111
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Subtotal 1,201,582 1,105,324 1,492,391 1,112,564 712,339
Interest on deposits 1,456,587 1,428,771 1,551,816 1,159,242 1,005,658
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Total $2,658,169 $2,534,095 $3,044,207 $2,271,806 $1,717,997
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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
Including interest on deposits 1.61 1.60 1.21 1.53 1.66
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