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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): September 26, 1997
THE PROVIDENT BANK (as sponsor and servicer under the Pooling and
Servicing Agreement, dated as of September 1, 1997, which forms
Provident Bank Home Equity Loan Trust 1997-A, which will issue the
Revolving Home Equity Loan Asset-Backed Certificates, Series 1997-
A).
THE PROVIDENT BANK
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(Exact name of registrant as specified in its charter)
Ohio 333-35275 31-0412725
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
One East Fourth Street
Cincinnati, Ohio 45202
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (513) 579-2000
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Item 5. Other Events.
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Filing of Derived Materials.
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In connection with the offering of the Provident Bank Home Equity Loan
Trust 1997-A, Revolving Home Equity Loan Asset-Backed Certificates, Series
1997-A (the "Certificates"), Lehman Brothers Inc., as underwriter of the
Certificates (the "Underwriter"), has prepared certain materials (the
"Derived Materials") for distribution to its potential investors. Although
The Provident Bank (the "Company") provided the Underwriter with certain
information regarding the characteristics of the Mortgage Loans (the "Loans")
in the related portfolio, it did not participate in the preparation of the
Derived Materials. Concurrently with the filing hereof, pursuant to Rule
311(i) of Regulation S-T, the Company is filing the Derived Materials by
paper filing on Form SE.
For purposes of this Form 8-K, Derived Materials shall mean computer
generated tables and/or charts displaying, with respect to the Certificates,
any of the following: yield; average life, duration; expected maturity;
interest rate sensitivity; loss sensitivity; cash flow characteristics;
background information regarding the Loans; the proposed structure; decrement
tables; or similar information (tabular or otherwise) of a statistical,
mathematical, tabular or computational nature. The Derived Materials are
attached hereto as Exhibit 99.1.
Incorporation of Certain Documents by Reference
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Pursuant to Rule 411 of Regulation C under the Securities Act of 1933
and in reliance on MBIA Insurance Corporation, SEC No-Action Letter
(September 6, 1996), the Company will incorporate by reference the financial
statement of MBIA Insurance Corporation ("MBIA") into the Company's
registration statement (File No. 333-35275). The financial statements will
be referred to in the prospectus supplement relating to the Company's
Revolving Home Equity Loan Asset-Backed Certificates, Series 1997-A. In
connection with the incorporation of such documents by reference, the Company
is hereby filing the consent of Coopers & Lybrand L.L.P. ("Coopers &
Lybrand") to the use of their name in such prospectus supplement. The
consent of Coopers & Lybrand is attached hereto as Exhibit 23.
Item 7. Financial Statements, Pro Forma Financial
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Information and Exhibits.
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(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
23. The Consent of Coopers & Lybrand L.L.P.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE PROVIDENT BANK
By: /s/ Kevin M. Shea
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Name: Kevin M. Shea
Title: Vice President
Dated: September 29, 1997
Exhibit Index
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Exhibit Page
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23. The Consent of Coopers & Lybrand 7
99.1 Derived Materials 8
EXHIBIT 23: CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in this Prospectus Supplement,
of our report dated February 3, 1997, on our audits of the consolidated
financial statements of MBIA Insurance Corporation and Subsidiaries as of
December 31, 1996 and 1995 and for each of the three years in the period
ended December 31, 1996. We also consent to the reference to our firm under
the caption "Experts".
\s\ Coopers & Lybrand L.L.P.
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Coopers & Lybrand L.L.P.
September 29, 1997
New York, New York
EXHIBIT 99.1
In accordance with Rule 311(i) of Regulation S-T, the Derived Materials
are being filed on paper pursuant to Form SE.
