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
Three months ended ---------------------------------------------------------------
Dollars in thousands March 31, 1998 1997 1996 1995 1994 1993
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EARNINGS
Income before taxes and cumulative effect of changes
in accounting principles $405,079 $1,618,599 $1,527,551 $627,012 $1,209,916 $1,140,487
Fixed charges and preferred stock dividends excluding
interest on deposits 308,669 1,201,582 1,105,324 1,492,391 1,112,564 712,339
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Subtotal 713,748 2,820,181 2,632,875 2,119,403 2,322,480 1,852,826
Interest on deposits 361,522 1,456,587 1,428,771 1,551,816 1,159,242 1,005,658
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Total $1,075,270 $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 $292,362 $1,098,365 $1,064,847 $1,455,069 $1,070,565 $676,319
Interest component of rentals 8,614 29,312 29,839 31,283 32,247 26,491
Amortization of borrowed funds 219 833 816 927 1,761 1,418
Distributions on capital securities 13 43,138 1,391
Preferred stock dividends 7,461 29,934 8,431 5,112 7,991 8,111
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Subtotal 308,669 1,201,582 1,105,324 1,492,391 1,112,564 712,339
Interest on deposits 361,522 1,456,587 1,428,771 1,551,816 1,159,242 1,005,658
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Total $670,191 $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 2.31x 2.35x 2.38x 1.42x 2.09x 2.60x
Including interest on deposits 1.60 1.61 1.60 1.21 1.53 1.66
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