December 23, 1997
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Provident Bank Home Equity Loan Trust 1996-1 Home Equity Loan
Asset-Backed Certificates, Series 1996-1; File No. 333-03911-05
Ladies and Gentlemen:
Enclosed herewith for filing on behalf of the trust fund (the
"Trust") created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1996 (the "Pooling and Servicing Agreement")
among Lehman ABS Corporation, as Depositor (the "Depositor"), The
Provident Bank, as Seller (the "Seller"), and as Master Servicer
(the "Master Servicer"), and Bankers Trust Company of California,
N.A., as Trustee (the "Trustee"), is a Current Report on Form 8-K
(the "Report").
The Home Equity Loan Asset-Backed Certificates, Series 1996-1 (the
"Certificates"), will consist of two Classes (each, a "Class") of
senior Certificates: The Class A-1 Certificates and the Class A-2
Certificates (collectively, the "Class A Certificates") and one
Class of subordinated Certificates (the "Class R Certificates").
Only the Class A Certificates (The "Offered Certificates") are
being offered hereby.
The Certificates will evidence in the aggregate the entire
beneficial interest in a pool (the "Mortgage Pool") of closed-end
fixed and adjustable rate mortgage loans
(the "Mortgage Loans") consisting of two groups ("Loan Group 1" and
Loan Group 2", respectively, and each a "Loan Group") held by
Provident Bank Home Equity Loan Trust 1996-1 (the "Trust") to be
formed pursuant to the Pooling and Servicing Agreement. The Class
A-1 Certificates (the "Group 1 Certificates") will represent
undivided ownership interests in Loan Group 1 which consists of
Mortgage Loans with fixed interest rates. The Class A-2
Certificates (the "Group 2 Certificates") will represent undivided
ownership interests in Loan Group 2 which consists of Mortgage Loans
with adjustable interest rates. The assets of the Trust will also
include certain other property. The Mortgage Loans are secured by
first and second deeds of trust or mortgages primarily on one- to
four-family residential properties. All of the Mortgage Loans will
be acquired by Lehman ABS Corporation (the "Depositor") from
Provident.
The Offered Certificates were registered under the Securities Act of
1933, as amended, by a Registration Statement on Form S-11 (File No.
333-3911). As a result, the Trust is subject to the filing
requirements of Section 15(d) of the Securities Exchange Act of 1934,
as amended (the "Exchange Act"). The Trust intends to fulfill these
filing requirements in the manner described herein:
The Trust will file, promptly after each Distribution Date (as
defined in the Pooling and Servicing Agreement), a Current Report on
Form 8-K in substantially the form enclosed herewith, including as
an exhibit thereto the applicable Distribution Date report. Each
such Current Report will also disclose under Item 5 any matter
occurring during the relevant reporting period which would be
reportable under Item 1, 2, 4 or 5 of Part II of Form 10-Q.
The Trust will file a Current Report on Form 8-K promptly after the
occurrence of any event described under Item 2, 3, 4 or 5 thereof,
responding to the requirements of the applicable Item.
Within 90 days after the end of each fiscal year, the Trust will file
an annual report of Form 10-K which responds to Items 2, 3, and 4 of
Part I, Items 5 and 9 of Part II, Items 12 and 13 of Part III and
Item 14 of Part IV thereof, and include as exhibits thereto certain
information from the Distribution Date reports aggregated for such
year and a copy of the independent accountants' annual compliance
statement required under the Pooling and Servicing Agreement.
The Trust will follow the above procedures except for any fiscal year
as to which its reporting obligations under Section 15(d) of the
Exchange Act have been suspended pursuant to such Section. In such
event, the Trust will file a Form 15 as required under Rule 15d-6.
Should you wish to discuss the above filing procedures, please call
Judy L. Gomez at (714) 253-7562.
Sincerely,
/s/ Judy L. Gomez
Assistant Vice President
Bankers Trust Company of California, N.A.
S.E.C. Reporting Agent for Provident Bank Home Equity Loan Trust
1996-1 Home Equity Loan Asset-Backed Certificates, Series 1996-1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant To Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 25, 1996
LEHMAN ABS CORPORATION
(as depositor under the Pooling and Servicing Agreement, dated as of
September 1, 1996, which forms Provident Bank Home Equity Loan Trust
1996-1, which will issue the Provident Bank Home Equity Loan Trust
1996-1, Home Equity Loan Asset-Backed Certificates, Series 1996-1)
LEHMAN ABS CORPORATION
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-03911-05 13-3447441
(Commission File Number) (I.R.S. Employer
Identification No.)
THREE WORLD FINANCIAL CENTER
200 VESEY STREET
NEW YORK, NEW YORK 10022
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (212) 526-7000
ITEM 5. Other Events
Attached hereto are copies of the Monthly Remittance Statements
to the Certificateholders which were derived from the monthly
information submitted by the Master Servicer of the Trust to the
Trustee.
ITEM 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Remittance Statement to the Certificateholders dated as of
October 25, 1996.
Monthly Remittance Statement to the Certificateholders dated as of
November 25, 1996.
Monthly Remittance Statement to the Certificateholders dated as of
December 26, 1996.
Monthly Remittance Statement to the Certificateholders dated as of
January 27, 1997.
Monthly Remittance Statement to the Certificateholders dated as of
February 25, 1997.
Monthly Remittance Statement to the Certificateholders dated as of
March 25, 1997.
Monthly Remittance Statement to the Certificateholders dated as of
April 25, 1997.
Monthly Remittance Statement to the Certificateholders dated as of
May 27, 1997.
Monthly Remittance Statement to the Certificateholders dated as of
June 25, 1997.
Monthly Remittance Statement to the Certificateholders dated as of
July 25, 1997.
Monthly Remittance Statement to the Certificateholders dated as of
August 25, 1997.
Monthly Remittance Statement to the Certificateholders dated as of
September 25, 1997.
Monthly Remittance Statement to the Certificateholders dated as of
October 25, 1997.
Monthly Remittance Statement to the Certificateholders dated as of
November 25, 1997.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, hereunto duly authorized.
Bankers Trust Company of California, N.A.,
not in its individual capacity, but solely
as a duly authorized agent of the Registrant
pursuant to the Pooling and Servicing
Agreement, dated as of September 1, 1996.
Date: December 23, 1997 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Sequential
Document Page Number
Monthly Remittance Statement to the Certificateholders
dated as of October 25, 1996. 9
Monthly Remittance Statement to the Certificateholders
dated as of November 25, 1996. 11
Monthly Remittance Statement to the Certificateholders
dated as of December 26, 1996. 13
Monthly Remittance Statement to the Certificateholders
dated as of January 25, 1997. 15
Monthly Remittance Statement to the Certificateholders
dated as of February 25, 1997. 17
Monthly Remittance Statement to the Certificateholders
dated as of March 25, 1997. 19
Monthly Remittance Statement to the Certificateholders
dated as of April 25, 1997. 21
Monthly Remittance Statement to the Certificateholders
dated as of May 27, 1997. 23
Monthly Remittance Statement to the Certificateholders
dated as of June 25, 1997. 25
Monthly Remittance Statement to the Certificateholders
dated as of July 25, 1997. 27
Monthly Remittance Statement to the Certificateholders
dated as of August 25, 1997. 29
Monthly Remittance Statement to the Certificateholders
dated as of September 25, 1997. 31
Monthly Remittance Statement to the Certificateholders
dated as of October 25, 1997. 33
Monthly Remittance Statement to the Certificateholders
dated as of November 25, 1997. 35
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1996-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 41,860,000.00 41,860,000.00 265,113.33 269,899.69
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
535,013.02 0.00 0.00 41,590,100.31
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 111,875,000.00 111,875,000.00 527,323.59 1,339,944.57
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
1,867,268.16 0.00 0.00 110,535,055.43
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
153,735,000.00 153,735,000.00 792,436.92 1,609,844.26
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
2,402,281.18 0.00 0.00 152,125,155.74
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AA0 1,000.000000 6.333333 6.4476750 12.781009
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
993.552325 7.600000% 7.600000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AB8 1,000.000000 4.713507 11.977158 16.690665
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
988.022842 5.851250% 5.695000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: September 30, 1996 Irvine, CA 92714
DISTRIBUTION DATE: October 25, 1996
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1996-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 41,860,000.00 41,590,100.31 263,403.97 537,491.61
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
800,895.58 0.00 0.00 41,052,608.70
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 111,875,000.00 110,535,055.43 556,939.32 1,744,515.80
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
2,301,455.12 0.00 0.00 108,790,539.63
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
153,735,000.00 152,125,155.74 820,343.29 2,282,007.40
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
3,102,350.69 0.00 0.00 149,843,148.33
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AA0 993.552325 6.292498 12.840220 19.132718
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
980.712105 7.600000% 7.600000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AB8 988.022842 4.978229 15.593437 20.571666
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
972.429405 5.851250% 5.695000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: October 31, 1996 Irvine, CA 92714
DISTRIBUTION DATE: November 25, 1996
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1996-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 41,860,000.00 41,052,608.70 259,999.86 463,091.12
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
723,090.98 0.00 0.00 40,589,517.58
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 111,875,000.00 108,790,539.63 548,149.44 974,653.15
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
1,522,802.59 0.00 0.00 107,815,886.48
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
153,735,000.00 149,843,148.33 808,149.30 1,437,744.27
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
2,245,893.57 0.00 0.00 148,405,404.06
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AA0 980.712105 6.211177 11.062855 17.274032
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
969.649249 7.600000% 7.600000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AB8 972.429405 4.899660 8.711983 13.611643
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
963.717421 5.851250% 5.987970%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: November 29, 1996 Irvine, CA 92714
DISTRIBUTION DATE: December 26, 1996
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1996-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 41,860,000.00 40,589,517.58 257,066.94 591,699.05
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
848,765.99 0.00 0.00 39,997,818.53
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 111,875,000.00 107,786,303.59 591,636.06 2,273,728.42
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
2,865,364.48 0.00 0.00 105,512,575.17
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
153,735,000.00 148,375,821.17 848,703.00 2,865,427.46
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
3,714,130.46 0.00 0.00 145,510,393.70
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AA0 969.649249 6.141112 14.135190 20.276302
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
955.514059 7.600000% 7.600000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AB8 963.452993 5.288367 20.323829 25.612196
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
943.129164 5.987970% 5.757500%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: December 31, 1996 Irvine, CA 92714
DISTRIBUTION DATE: January 27, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1996-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 41,860,000.00 39,997,818.53 253,319.52 392,724.80
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
646,044.32 0.00 0.00 39,605,093.73
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 111,875,000.00 105,512,575.17 523,115.23 2,449,581.50
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
2,972,696.73 0.00 0.00 103,062,993.67
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
153,735,000.00 145,510,393.70 776,434.75 2,842,306.30
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
3,618,741.05 0.00 0.00 142,668,087.40
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AA0 955.514059 6.051589 9.381863 15.433452
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
946.132196 7.600000% 7.600000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AB8 943.129164 4.675890 21.895701 26.571591
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
921.233463 5.757500% 5.695000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: January 31, 1997 Irvine, CA 92714
DISTRIBUTION DATE: February 25, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1996-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 41,860,000.00 39,605,093.73 250,832.26 791,779.79
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
1,042,612.05 0.00 0.00 38,813,313.94
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 111,875,000.00 103,062,993.67 456,511.80 2,349,429.37
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
2,805,941.17 0.00 0.00 100,713,564.30
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
153,735,000.00 142,668,087.40 707,344.06 3,141,209.16
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
3,848,553.22 0.00 0.00 139,526,878.24
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AA0 946.132196 5.992171 18.914950 24.907120
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
927.217247 7.600000% 7.600000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AB8 921.233463 4.080552 21.000486 25.081038
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
900.232977 5.695000% 5.945000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: February 28, 1997 Irvine, CA 92714
DISTRIBUTION DATE: March 25, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1996-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 41,860,000.00 38,813,313.94 245,817.65 750,719.60
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
996,537.25 0.00 0.00 38,062,594.34
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 111,875,000.00 100,713,564.30 515,583.51 4,150,326.03
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
4,665,909.54 0.00 0.00 96,563,238.27
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
153,735,000.00 139,526,878.24 761,401.16 4,901,045.63
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
5,662,446.79 0.00 0.00 134,625,832.61
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AA0 927.217247 5.872376 17.934056 23.806432
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
909.283190 7.600000% 7.600000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AB8 900.232977 4.608568 37.097886 41.706454
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
863.135091 5.945000% 6.007500%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: March 31, 1997 Irvine, CA 92714
DISTRIBUTION DATE: April 25, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1996-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 41,860,000.00 38,062,594.34 241,063.10 1,659,082.19
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
1,900,145.29 0.00 0.00 36,403,512.15
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 111,875,000.00 96,563,238.27 515,647.69 2,820,168.26
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
3,335,815.95 0.00 0.00 93,743,070.01
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
153,735,000.00 134,625,832.61 756,710.79 4,479,250.45
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
5,235,961.24 0.00 0.00 130,146,582.16
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AA0 909.283190 5.758794 39.634070 45.392864
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
869.649120 7.600000% 7.600000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AB8 863.135091 4.609141 25.208208 29.817349
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
837.926883 6.007500% 6.007500%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: April 30, 1997 Irvine, CA 92714
DISTRIBUTION DATE: May 27, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1996-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 41,860,000.00 36,403,512.15 230,555.58 656,538.05
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
887,093.63 0.00 0.00 35,746,974.10
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 111,875,000.00 93,743,070.01 453,657.87 3,396,607.07
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
3,850,264.94 0.00 0.00 90,346,462.94
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
153,735,000.00 130,146,582.16 684,213.45 4,053,145.12
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
4,737,358.57 0.00 0.00 126,093,437.04
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AA0 869.649120 5.507778 15.684139 21.191917
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
853.964981 7.600000% 7.600000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AB8 837.926883 4.055042 30.360734 34.415776
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
807.566149 6.007500% 6.007500%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: May 30, 1997 Irvine, CA 92714
DISTRIBUTION DATE: June 25, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1996-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 41,860,000.00 35,746,974.10 226,397.50 849,399.06
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
1,075,796.56 0.00 0.00 34,897,575.04
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 111,875,000.00 90,346,462.94 452,296.98 3,277,451.92
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
3,729,748.90 0.00 0.00 87,069,011.02
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
153,735,000.00 126,093,437.04 678,694.48 4,126,850.97
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
4,805,545.45 0.00 0.00 121,966,586.06
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AA0 853.964981 5.408445 20.291425 25.699870
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
833.673556 7.600000% 7.600000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AB8 807.566149 4.042878 29.295660 33.338538
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
778.270490 6.007500% 5.968440%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: June 30, 1997 Irvine, CA 92714
DISTRIBUTION DATE: July 25, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 (c) COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1996-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 41,860,000.00 34,897,575.04 221,017.98 1,244,747.92
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
1,465,765.90 0.00 0.00 33,652,827.12
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 111,875,000.00 87,069,011.02 395,812.57 2,936,144.50
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
3,331,957.07 0.00 0.00 84,132,866.52
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
153,735,000.00 121,966,586.06 616,830.55 4,180,892.42
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
4,797,722.97 0.00 0.00 117,785,693.64
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AA0 833.673556 5.279933 29.735975 35.015908
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
803.937581 7.600000% 7.600000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AB8 778.270490 3.537989 26.244867 29.782856
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
752.025623 5.968440% 5.945000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: July 31, 1997 Irvine, CA 92714
DISTRIBUTION DATE: August 25, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 (c) COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1996-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 41,860,000.00 33,652,827.12 213,134.57 560,503.40
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
773,637.97 0.00 0.00 33,092,323.72
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 111,875,000.00 84,132,866.52 430,701.85 2,554,685.07
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
2,985,386.92 0.00 0.00 81,578,181.45
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
153,735,000.00 117,785,693.64 643,836.42 3,115,188.47
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
3,759,024.89 0.00 0.00 114,670,505.17
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AA0 803.937581 5.091605 13.389952 18.481557
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
790.547628 7.600000% 7.600000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AB8 752.025623 3.849849 22.835174 26.685023
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
729.190449 5.945000% 5.976250%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: August 29, 1997 Irvine, CA 92714
DISTRIBUTION DATE: September 25, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 (c) COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1996-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 41,860,000.00 33,092,323.72 209,584.72 1,163,985.40
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
1,373,570.12 0.00 0.00 31,928,338.32
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 111,875,000.00 81,578,181.45 433,361.43 2,712,203.26
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
3,145,564.69 0.00 0.00 78,865,978.19
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
153,735,000.00 114,670,505.17 642,946.15 3,876,188.66
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
4,519,134.81 0.00 0.00 110,794,316.51
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AA0 790.547628 5.006802 27.806627 32.816429
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
762.741001 7.600000% 7.600000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AB8 729.190449 3.873622 24.243158 28.116779
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
704.947291 5.976250% 5.976250%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: September 30, 1997 Irvine, CA 92714
DISTRIBUTION DATE: October 27, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 (c) COPYRIGHT 1997 Bankers Trust Company
PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1996-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 41,860,000.00 31,928,338.32 202,212.81 1,059,237.58
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
1,261,450.39 0.00 0.00 30,869,100.74
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-2 111,875,000.00 78,865,978.19 379,676.70 3,602,502.74
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
3,982,179.44 0.00 0.00 75,263,475.45
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
R 0.00 0.00 0.00 0.00
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
0.00 0.00 0.00 0.00
TOTALS
PRIOR
ORIGINAL PRINCIPAL
FACE VALUE BALANCE INTEREST PRINCIPAL
153,735,000.00 110,794,316.51 581,889.51 4,661,740.31
CURRENT
REALIZED DEFERRED PRINCIPAL
TOTAL LOSSES INTEREST BALANCE
5,243,629.82 0.00 0.00 106,132,576.19
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 743844AA0 762.741001 4.830693 25.304290 30.134983
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
737.436711 7.600000% 7.600000%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-2 743844AB8 704.947291 3.393758 32.201142 35.594900
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
672.746149 5.976250% 6.007500%
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
R 0.000000 0.000000 0.000000 0.000000
CURRENT
PRINCIPAL PASS-THROUGH RATES
BALANCE CURRENT NEXT
0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMINISTRATOR: David Arnold
SERVICER: Provident Bank Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers 3 Park Plaza
RECORD DATE: October 31, 1997 Irvine, CA 92714
DISTRIBUTION DATE: November 25, 1997
FACTOR INFORMATION: (800) 735-7777
Page 1 of 1 (c) COPYRIGHT 1997 Bankers Trust Company
