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, 1998 1997 1996 1995 1994 1993
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EARNINGS
Income before taxes and cumulative effect of
changes in accounting principles $1,264,810 $1,618,599 $1,527,551 $ 627,012 $1,209,916 $1,140,487
Fixed charges and preferred stock dividends
excluding interest on deposits 1,041,486 1,201,582 1,105,324 1,492,391 1,112,564 712,339
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Subtotal 2,306,296 2,820,181 2,632,875 2,119,403 2,322,480 1,852,826
Interest on deposits 1,095,409 1,456,587 1,428,771 1,551,816 1,159,242 1,005,658
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Total $3,401,705 $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 $ 948,749 $1,098,365 $1,064,847 $1,455,069 $1,070,565 $ 676,319
Interest component of rentals 26,181 29,312 29,839 31,283 32,247 26,491
Amortization of borrowed funds 701 833 816 927 1,761 1,418
Distributions on capital securities 43,503 43,138 1,391
Preferred stock dividends 22,352 29,934 8,431 5,112 7,991 8,111
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Subtotal 1,041,486 1,201,582 1,105,324 1,492,391 1,112,564 712,339
Interest on deposits 1,095,409 1,456,587 1,428,771 1,551,816 1,159,242 1,005,658
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Total $2,136,895 $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 2.21x 2.35x 2.38x 1.42x 2.09x 2.60x
Including interest on deposits 1.59 1.61 1.60 1.21 1.53 1.66
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