1 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, 1997 1996 1995 1994 1993 1992 - ------------------------------------------------------------------------------------------------------------------------ EARNINGS Income before taxes and cumulative effect of changes in accounting principles $408,837 $1,527,551 $627,012 $1,209,916 $1,140,487 $787,994 Fixed charges and preferred stock dividends excluding interest on deposits 287,681 1,105,324 1,492,391 1,112,564 712,339 592,902 ------------------------------------------------------------------------------ Subtotal 696,518 2,632,875 2,119,403 2,322,480 1,852,826 1,380,896 Interest on deposits 346,155 1,428,771 1,551,816 1,159,242 1,005,658 1,546,576 ------------------------------------------------------------------------------ Total $1,042,673 $4,061,646 $3,671,219 $3,481,722 $2,858,484 $2,927,472 ============================================================================== FIXED CHARGES Interest on borrowed funds $265,874 $1,064,847 $1,455,069 $1,070,565 $676,319 $555,610 Interest component of rentals 7,150 29,839 31,283 32,247 26,491 25,739 Amortization of borrowed funds 202 816 927 1,761 1,418 1,505 Distributions on mandatorily redeemable capital securities of subsidiary trust 6,956 1,391 Preferred stock dividends 7,499 8,431 5,112 7,991 8,111 10,048 ------------------------------------------------------------------------------ Subtotal 287,681 1,105,324 1,492,391 1,112,564 712,339 592,902 Interest on deposits 346,155 1,428,771 1,551,816 1,159,242 1,005,658 1,546,576 ------------------------------------------------------------------------------ Total $633,836 $2,534,095 $3,044,207 $2,271,806 $1,717,997 $2,139,478 ============================================================================== RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS Excluding interest on deposits 2.42x 2.38x 1.42x 2.09x 2.60x 2.33x Including interest on deposits 1.65 1.60 1.21 1.53 1.66 1.37 ========================================================================================================================