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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 10, 1999
THE PROVIDENT BANK
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(Exact name of registrant as specified in its charter)
Ohio 333-81675 31-0412725
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(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) 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.
Incorporation of Certain Documents by Reference
In connection with the offering of the Provident Bank Home Equity Loan
Trust 1999-3, Home Equity Loan Asset-Backed Certificates, Series 1999-3 (the
"Certificates"), Lehman Brothers Inc. and Prudential Securities Incorporated,
as underwriters of the Certificates (the "Underwriters"), have prepared
certain materials (the "Derived Materials") for distribution to its potential
investors. Although The Provident Bank (the "Company") provided the
Underwriters 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.
In addition, 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. 333-81675). The financial statements will be
referred to in the prospectus supplement relating to the Company's Home Equity
Loan Asset-Backed Certificates, Series 1999-3. In connection with the
incorporation of such documents by reference, the Company is hereby filing the
consent of PricewaterhouseCoopers LLP to the use of their name in such
prospectus supplement. The consent of PricewaterhouseCoopers LLP is attached
hereto as Exhibit 23.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Derived Materials
23. Consent of PricewaterhouseCoopers LLP
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 Shea
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Name: Kevin M. Shea
Title: Vice President
Dated: September 9, 1999
Exhibit Index
Exhibit
Page
99.1 Derived Materials...............................................6
23. The Consent of PricewaterhouseCoopers LLP.......................7
EXHIBIT 99.1
In accordance with Rule 311(i) of Regulation S-T, the Derived Materials
are being filing on paper pursuant to Form SE.
EXHIBIT 23: CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in the Prospectus Supplement of
The Provident Bank relating to Provident Bank Home Equity Loan Trust 1999-3,
of our report dated February 3, 1999, on our audits of the consolidated
financial statements of MBIA Insurance Corporation and Subsidiaries as of
December 31, 1998 and 1997 and for each of the three years in the period ended
December 31, 1998. We also consent to the reference to our firm under the
caption "Experts".
\s\ PricewaterhouseCoopers LLP
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PricewaterhouseCoopers LLP
September 8, 1999
