PNC BANK CORP. EXHIBIT 12.2 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
Three Year ended December 31 months ended ------------------------------------------------------------------- Dollars in millions March 31, 1999 1998 1997 1996 1995 1994 - ---------------------------------------------- -------------- ------------ ----------- ------------ ------------ ------------ EARNINGS Income before taxes and cumulative effect of changes in accounting principles $488 $1,710 $1,618 $1,527 $627 $1,209 Fixed charges and preferred stock dividends excluding interest on deposits 316 1,395 1,201 1,106 1,492 1,112 ------------- ------------ ----------- ------------ ------------ ------------ Subtotal 804 3,105 2,819 2,633 2,119 2,321 Interest on deposits 351 1,471 1,457 1,428 1,552 1,160 ------------- ------------ ----------- ------------ ------------ ------------ Total $1,155 $4,576 $4,276 $4,061 $3,671 $3,481 ------------- ------------ ----------- ------------ ------------ ------------ FIXED CHARGES Interest on borrowed funds $281 $1,267 $1,098 $1,065 $1,454 $1,071 Interest component of rentals 12 37 29 31 32 32 Amortization of notes and debentures 2 1 1 1 1 Distributions on Mandatorily Redeemable Capital Securities of Subsidiary Trusts 16 60 43 1 Preferred stock dividend requirements 7 29 30 8 5 8 ------------- ------------ ----------- ------------ ------------ ------------ Subtotal 316 1,395 1,201 1,106 1,492 1,112 Interest on deposits 351 1,471 1,457 1,428 1,552 1,160 ------------- ------------ ----------- ------------ ------------ ------------ Total $667 $2,866 $2,658 $2,534 $3,044 $2,272 ------------- ------------ ----------- ------------ ------------ ------------ RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Excluding interest on deposits 2.54 x 2.23 x 2.35 x 2.38 x 1.42 x 2.09 x Including interest on deposits 1.73 1.60 1.61 1.60 1.21 1.53 - -----------------------------------------------------------------------------------------------------------------------------------