1
EXHIBIT 12.2
PNC BANK CORP.
COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
Six Year ended December 31
months ended -----------------------------------------------------------
Dollars in millions June 30, 1999 1998 1997 1996 1995 1994
- ------------------------------------------ ------------ ---------- ----------- ----------- ---------- ----------
EARNINGS
Income before taxes and cumulative effect
of changes in accounting principles $ 967 $ 1,710 $ 1,618 $ 1,527 $ 627 $ 1,209
Fixed charges and preferred stock dividends
excluding interest on deposits 617 1,395 1,201 1,106 1,492 1,112
------- ------- ------- ------- ------- -------
Subtotal 1,584 3,105 2,819 2,633 2,119 2,321
Interest on deposits 684 1,471 1,457 1,428 1,552 1,160
------- ------- ------- ------- ------- -------
Total $ 2,268 $ 4,576 $ 4,276 $ 4,061 $ 3,671 $ 3,481
======= ======= ======= ======= ======= =======
FIXED CHARGES
Interest on borrowed funds $ 545 $ 1,267 $ 1,098 $ 1,065 $ 1,454 $ 1,071
Interest component of rentals 25 37 29 31 32 32
Amortization of notes and debentures 2 1 1 1 1
Distributions on Mandatorily Redeemable
Capital Securities of Subsidiary Trusts 32 60 43 1
Preferred stock dividend requirements 15 29 30 8 5 8
------- ------- ------- ------- ------- -------
Subtotal 617 1,395 1,201 1,106 1,492 1,112
Interest on deposits 684 1,471 1,457 1,428 1,552 1,160
------- ------- ------- ------- ------- -------
Total $ 1,301 $ 2,866 $ 2,658 $ 2,534 $ 3,044 $ 2,272
======= ======= ======= ======= ======= =======
RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
Excluding interest on deposits 2.57 x 2.23 x 2.35 x 2.38 x 1.42 x 2.09 x
Including interest on deposits 1.74 1.60 1.61 1.60 1.21 1.53
======================================================================================================================