SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 15, 1997
First Deposit National Bank on behalf of the First Deposit Master Trust
(Issuer in respect of the First Deposit Master Trust
5.75% Asset-Backed Certificates, Series 1993-2
Remarketed Asset-Backed Certificates, Series 1993-3
6.90% Asset-Backed Certificates, Series 1994-1
Floating Rate Asset-Backed Certificates, Series 1995-1
6.05% Asset-Backed Certificates, Series 1995-2
Floating Rate Asset-Backed Certificates, Series 1996-1)
_________________________________________________________
(Exact name of registrant as specified in charter)
33-59922
33-84844
United States of America 33-99462 02-0118519
____________________________ ____________ ______________
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File No.) Identification No.)
295 Main Street
Tilton, New Hampshire 03276
___________________________________________ ________________
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (603) 286-4348
Not Applicable
___________________________________________________________
(Former name or former address, if changed since last report)
Item 5. Other Events.
Exhibit 19.1 Monthly Statement for the 5.75% Asset-Backed Certificates,
Series 1993-2 with respect to the January 15, 1997
Distribution Date.
Exhibit 19.2 Monthly Statement for the 6.90% Asset-Backed Certificates,
Series 1994-1 with respect to the January 15, 1997
Distribution Date.
Exhibit 19.3 Monthly Statement for the Floating Rate Asset-Backed
Certificates, Series 1995-1 with respect to the
January 15, 1997 Distribution Date.
Exhibit 19.4 Monthly Statement for the 6.05% Asset-Backed Certificates,
Series 1995-2 with respect to the January 15, 1997
Distribution Date.
Exhibit 19.5 Monthly Statement for the Floating Rate Asset-Backed
Certificates, Series 1996-1 with respect to the
January 15, 1997 Distribution Date.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has caused this report to be signed on behalf of the First Deposit
Master Trust by the undersigned hereunto duly authorized.
FIRST DEPOSIT MASTER TRUST
By: FIRST DEPOSIT NATIONAL BANK,
Servicer
By: /s/ David J. Petrini
________________________________
David J. Petrini
Senior Vice President and
Senior Financial Officer
Date: January 15, 1997
EXHIBIT INDEX
Exhibit No.
19.1 Monthly Statement for the 5.75% Asset-Backed
Certificates, Series 1993-2 with respect to the
January 15, 1997 Distribution Date.
19.2 Monthly Statement for the 6.90% Asset-Backed
Certificates, Series 1994-1 with respect to the
January 15, 1997 Distribution Date.
19.3 Monthly Statement for the Floating Rate Asset-Backed
Certificates, Series 1995-1 with respect to the
January 15, 1997 Distribution Date.
19.4 Monthly Statement for the 6.05% Asset-Backed
Certificates, Series 1995-2 with respect to the
January 15, 1997 Distribution Date.
19.5 Monthly Statement for the Floating Rate Asset-Backed
Certificates, Series 1996-1 with respect to the
January 15, 1997 Distribution Date.
MONTHLY STATEMENT
_____________________________________________
FIRST DEPOSIT MASTER TRUST
SERIES 1993-2
_____________________________________________
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1993
(as amended and supplemented, the "Agreement"), as supplemented by the Series
1993-2 Supplement (as amended and supplemented, the "Series Supplement"),
among First Deposit National Bank, Seller and Servicer ("First Deposit"),
Providian National Bank (formerly First Deposit National Credit Card Bank),
Seller, and Bankers Trust Company, Trustee, First Deposit as Servicer is
required to prepare certain information each month regarding current
distributions to Investor Certificateholders and the performance of the First
Deposit Master Trust (the "Trust") during the previous month. The information
which is required to be prepared for the Series 1993-2 Certificates with
respect to the Distribution Date occurring on January 15, 1997, and with
respect to the performance of the Trust during the month of December is set
forth below. Certain of the information is presented on the basis of an
original principal amount of $1,000 per Investor Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Agreement or Series
Supplement, as applicable.
A) Information Regarding the Current Monthly Distribution for the Series
1993-2 Certificates (stated on the basis of $1,000 original
certificate principal amount)
(1) The total amount distributed to Series 1993-2 Certificateholders
per $1,000 original certificate principal amount $4.791667
(2) The amount set forth in A (1) above distributed to Series 1993-2
Certificateholders with respect to interest per $1,000 original
certificate principal amount $4.791667
(3) The amount set forth in A (1) above distributed to Series 1993-2
Certificateholders with respect to principal per $1,000
original certificate principal amount $0.000000
B) Information Regarding the Performance of the Trust
(1) Allocation of Receivables Collections to the Series 1993-2
Certificates
(a) The aggregate amount of Finance Charge Receivables collected
during the Monthly Period immediately preceding the
Distribution Date $83,085,784.83
(b) The aggregate amount of Principal Receivables collected
during the Monthly Period immediately preceding the
Distribution Date $288,556,665.23
(c) The Floating Allocation Percentage with respect to the
Series 1993-2 Certificates for the Monthly Period
immediately preceding the Distribution Date 10.599680%
(d) The Principal Allocation Percentage with respect to the
Series 1993-2 Certificates for the Monthly Period
immediately preceding the Distribution Date 10.599680%
(e) The Finance Charge Receivables, plus any Investment Proceeds
and Reserve Account withdrawals included as Available
Finance Charge Collections, collected and allocated to the
Series 1993-2 Certificates for the Monthly Period
immediately preceding the Distribution
Date $8,806,827.61
(f) The Principal Receivables collected and allocated to the
Series 1993-2 Certificates for the Monthly Period
immediately preceding the Distribution
Date $30,586,084.15
(2) Available Finance Charge Collections for Series 1993-2 for the
Monthly Period immediately preceding the Distribution Date
(a) The Finance Charge Receivables collected and allocated to
the Series 1993-2 Certificates $8,806,827.61
(b) Collection Account and Special Funding Account investment
earnings allocated to the Series 1993-2
Certificates $1,249.61
(c) Additional Finance Charges from other Series allocated to
the Series 1993-2 Certificates $0.00
(d) Principal Funding Account Investment Proceeds $0.00
(e) Reserve Account withdrawals $0.00
(f) Available Finance Charge Collections for Series 1993-2
(total of (a), (b), (c), (d) and (e) above) $8,808,077.22
(3) Available Principal Collections for Series 1993-2 for the Monthly
Period immediately preceding the Distribution Date
(a) The Principal Receivables collected and allocated to the
Series 1993-2 Certificates $30,586,084.15
(b) Shared Principal Collections from other Series allocated to
the Series 1993-2 Certificates $0.00
(c) Additional amounts to be treated as Available Principal
Collections pursuant to the Series
Supplement $2,907,090.18
(d) Available Principal Collections for Series 1993-2 (total of
(a), (b) and (c) above) $33,493,174.32
(4) Delinquent Balances in the Trust
The aggregate outstanding balance of the Accounts which
were delinquent as of the close of business on the last day of
the Monthly Period immediately preceding the Distribution Date.
(a) 31-60 days $ 97,685,404
(b) 61-90 days 55,133,614
(c) 91 or more days 92,468,624
(d) Total Delinquencies $ 245,287,642
(5) Defaulted Amount
(a) The aggregate amount of Defaulted Receivables with respect
to the Trust for the Monthly Period immediately preceding
the Distribution Date $30,882,106.84
(b) The aggregate amount of Recoveries of Defaulted Receivables
processed during the Monthly Period immediately preceding
the Distribution Date $3,455,900.78
(c) The Defaulted Amount for the Monthly Period immediately
preceding the Distribution Date [Defaulted Receivables
minus Recoveries] $27,426,206.06
(d) The Defaulted Amount for the Monthly Period immediately
preceding the Distribution Date allocable to the Series
1993-2 Certificates
(the "Investor Default Amount") $2,907,090.18
(6) Investor Charge-Offs
(a) The amount withdrawn, if any, under the Series
Enhancement $0.00
(b) The excess of the Investor Default Amount over the sum of
(i) the Available Finance Charge Collections applied to such
Investor Default Amount and (ii) the amount of the
withdrawal, if any, under the Series Enhancement applied
to such Investor Default Amount
(an "Investor Charge-Off") $0.00
(c) The amount of the Investor Charge-Off set forth in item 6(b)
above, per $1,000 original certificate principal amount
(which will have the effect of reducing, pro rata,
the amount of each Series 1993-2 Certificateholder's
investment) $0.000000
(d) The total amount reimbursed to the Trust for such
Distribution Date in respect of Investor Charge-Offs for
prior Distribution Dates $0.00
(e) The amount set forth in item 6(d) above per $1,000 original
certificate principal amount (which will have the effect
of increasing, pro rata, the amount of each Series 1993-2
Certificateholder's investment) $0.000000
(f) The amount, if any, by which the outstanding principal
balance of the Series 1993-2 Certificates exceeds the
Series 1993-2 Invested Amount as of the Distribution
Date, after giving effect to all deposits, withdrawals
and distributions on such Distribution Date $0.00
(7) Investor Monthly Servicing Fee
The amount of the Series 1993-2 Monthly Servicing Fee payable
to the Servicer on the Distribution Date $729,166.67
(8) Available Series Enhancement Amount
(a) The Available Cash Collateral Amount for the Series 1993-2
Certificateholders as of the close of business on the
Distribution Date, after giving effect to all deposits,
withdrawals and distributions on such Distribution Date
and the related Transfer Date $100,000,000.00
(b) The percentage of the Available Cash Collateral Amount to
the Invested Amount of the Series 1993-2 Certificates
as of the close of business on the Distribution Date,
after giving effect to all deposits, withdrawals and
distributions on such Distribution Date and the
related Transfer Date 20.00%
(c) The amount of the Enhancement Invested Amount, if any, as of
the close of business on the Distribution Date, after
giving effect to all deposits, withdrawals and
distributions on such Distribution Date and the related
Transfer Date $0.00
(9) Principal Funding Account Amount
(a) The amount on deposit in the Principal Funding Account as of
the close of business on the Distribution Date, after
giving effect to all deposits, withdrawals and
distributions on such Distribution Date and the
related Transfer Date $0.00
(b) Deposits in the Principal Funding Account are currently
scheduled to commence on the Distribution Date occurring
in April, 1997. (The initial funding date for the
Principal Funding Account may be modified in certain
circumstances in accordance with the terms of the Series
Supplement.)
(10) Deficit Controlled Accumulation Amount
The Deficit Controlled Accumulation Amount for the
Distribution Date, after giving effect to all deposits,
withdrawals and distributions on such Distribution Date and
the related Transfer Date $0.00
(11) Reserve Account
(a) The amount on deposit in the Reserve Account as of the
close of business on the Distribution Date, after giving
effect to all deposits, withdrawals and distributions
on such Distribution Date and the related Transfer
Date $2,713,459.27
(b) The Required Reserve Account Amount is currently calculated
to be $5,000,000.00
(c) Deposits in the Reserve Account are currently scheduled to
commence on the Distribution Date occurring in
January, 1997. (The initial funding date for the
Reserve Account may be modified in certain circumstances
in accordance with the terms of the Series Supplement.)
C) Invested Amount
(1) The Invested Amount of the Series 1993-2 Certificates on the date
of issuance (the "Initial Invested Amount") $500,000,000.00
(2) The Invested Amount of the Series 1993-2 Certificates on the
Distribution Date, after giving effect to all deposits,
withdrawals and distributions on such Distribution
Date $500,000,000.00
(3) The Pool Factor for the Distribution Date (which represents the
ratio of the Invested Amount of the Series 1993-2 Certificates
as of such Distribution Date, after giving effect to any
adjustment in the Invested Amount of the 1993-2 Certificates on
such date, to the Initial Invested Amount of the Series 1993-2
Certificates). The amount of a Certificateholder's pro rata
share of the Invested Amount can be determined by
multiplying the original denomination of the
Certificateholder's Certificate by the Pool Factor 1.000000
D) Receivables Balances
(1) The aggregate amount of Principal Receivables in the Trust at the
close of business on the last day of the immediately preceding
Monthly Period $4,694,270,929
(2) The aggregate amount of Finance Charge Receivables in the Trust
at the close of business on the last day of the immediately
preceding Monthly Period $89,386,778
E) Annualized Percentages
(1) The Gross Yield (Available Finance Charge Collections for the
Series 1993-2 Certificates for the preceding Monthly Period
divided by the Invested Amount of the Series 1993-2 Certificates
as of the last day of the next preceding Monthly Period, multiplied
by 12) 21.14%
(2) The Net Loss Rate (the Investor Default Amount for the 1993-2
Certificates for the preceding Monthly Period divided by the
Invested Amount of the Series 1993-2 Certificates as of the
last day of the next preceding Monthly Period, multiplied
by 12) 6.98%
(3) The Portfolio Yield (the Gross Yield minus the Net Loss Rate for
the Series 1993-2 Certificates for the preceding Monthly
Period) 14.16%
(4) The Base Rate (Monthly Interest plus Monthly Servicing Fee for
the preceding Monthly Period divided by the Invested Amount
of the Series 1993-2 Certificates as of the last day of the next
preceding Monthly Period, multiplied by 12) 7.50%
(5) The Net Spread (the Portfolio Yield minus the Base Rate for the
Series 1993-2 Certificates for the preceding Monthly Period) 6.66%
(6) The Monthly Payment Rate (Collections of Principal Receivables
and Finance Charge Receivables with respect to all Receivables
in the Trust for the preceding Monthly Period divided by the
amount of Receivables in the Trust as of the last day of the next
preceding Monthly Period) 7.72%
F) Series 1993-2 Information for the Last Three Distribution Dates
1) Gross Yield
a) 1/15/97 21.14%
b) 12/16/96 17.36%
c) 11/15/96 21.42%
2) Net Loss Rate
a) 1/15/97 6.98%
b) 12/16/96 6.94%
c) 11/15/96 7.80%
3) Net Spread (Portfolio Yield Minus Base Rate)
a) 1/15/97 6.66%
b) 12/16/96 2.92%
c) 11/15/96 6.12%
Three Month Average 5.23%
4) Monthly Payment Rate
a) 1/15/97 7.72%
b) 12/16/96 6.57%
c) 11/15/96 7.78%
FIRST DEPOSIT NATIONAL BANK,
Servicer
By: /s/ David J. Petrini
_____________________
Name: David J. Petrini
Title: Senior Vice President and Senior
Financial Officer
MONTHLY STATEMENT
_____________________________________________
FIRST DEPOSIT MASTER TRUST
SERIES 1994-1
_____________________________________________
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1993
(as amended and supplemented, the "Agreement"), as supplemented by the Series
1994-1 Supplement dated as of May 1, 1994 (as amended and supplemented, the
"Series Supplement"), among First Deposit National Bank, Seller and Servicer
("First Deposit"), Providian National Bank (formerly First Deposit National
Credit Card Bank), Seller, and Bankers Trust Company, Trustee, First Deposit
as Servicer is required to prepare certain information each month regarding
current distributions to Investor Certificateholders and the performance of
the First Deposit Master Trust (the "Trust") during the previous month. The
information which is required to be prepared for the Series 1994-1
Certificates with respect to the Distribution Date occurring on January 15,
1997 and with respect to the performance of the Trust during the month of
December is set forth below. Certain of the information is presented on the
basis of an original principal amount of $1,000 per Investor Certificate (a
"Certificate"). Certain other information is presented based on the aggregate
amounts for the Trust as a whole. Capitalized terms used in this Certificate
have their respective meanings set forth in the Agreement or Series
Supplement, as applicable.
A) Information Regarding the Current Monthly Distribution for the
Series 1994-1 Certificates (stated on the basis of $1,000 original
certificate principal amount)
(1) The total amount distributed to Series 1994-1
Certificateholders per $1,000 original certificate
principal amount $5.750000
(2) The amount set forth in A (1) above distributed to Series
1994-1 Certificateholders with respect to interest per
$1,000 original certificate principal amount $5.750000
(3) The amount set forth in A (1) above distributed to Series
1994-1 Certificateholders with respect to principal per
$1,000 original certificate principal amount $0.000000
B) Information Regarding the Performance of the Trust
(1) Allocation of Receivables Collections to the Series 1994-1
Certificates
(a) The aggregate amount of Finance Charge Receivables
collected during the Monthly Period immediately
preceding the Distribution Date $83,085,784.83
(b) The aggregate amount of Principal Receivables collected
during the Monthly Period immediately preceding the
Distribution Date $288,556,665.23
(c) The Floating Allocation Percentage with respect to the
Series 1994-1 Certificates for the Monthly Period
immediately preceding the Distribution Date 10.069696%
(d) The Principal Allocation Percentage with respect to the
Series 1994-1 Certificates for the Monthly Period
immediately preceding the Distribution Date 10.069696%
(e) The Finance Charge Receivables, plus any Investment
Proceeds and Reserve Account withdrawals included as
Available Finance Charge Collections, collected and
allocated to the Series 1994-1 Certificates for the
Monthly Period immediately preceding the Distribution
Date $8,366,486.23
(f) The Principal Receivables collected and allocated to
the Series 1994-1 Certificates for the Monthly Period
immediately preceding the Distribution
Date $29,056,779.94
(2) Available Finance Charge Collections for Series 1994-1 for the
Monthly Period immediately preceding the Distribution Date
(a) The Finance Charge Receivables collected and allocated to
the Series 1994-1 Certificates $8,366,486.23
(b) Collection Account and Special Funding Account investment
earnings allocated to the Series 1994-1
Certificates $3,319.38
(c) Additional Finance Charges from other Series allocated to
the Series 1994-1 Certificates $0.00
(d) Principal Funding Account Investment Proceeds $0.00
(e) Reserve Account withdrawals $0.00
(f) Available Finance Charge Collections for Series 1994-1
(total of (a), (b), (c), (d) and (e) above) $8,369,805.61
(3) Available Principal Collections for Series 1994-1 for the Monthly
Period immediately preceding the Distribution Date
(a) The Principal Receivables collected and allocated to the
Series 1994-1 Certificates $29,056,779.94
(b) Shared Principal Collections from other Series allocated to
the Series 1994-1 Certificates $47,348,151.06
(c) Additional amounts to be treated as Available Principal
Collections pursuant to the Series Supplement $2,761,735.67
(d) Available Principal Collections for Series 1994-1 (total of
(a), (b) and (c) above) $79,166,666.67
(4) Delinquent Balances in the Trust
The aggregate outstanding balance of the Accounts which
were delinquent as of the close of business on the last day of
the Monthly Period immediately preceding the Distribution Date.
(a) 31-60 days $97,685,404
(b) 61-90 days 55,133,614
(c) 91 or more days 92,468,624
(d) Total Delinquencies $245,287,642
(5) Defaulted Amount
(a) The aggregate amount of Defaulted Receivables with respect
to the Trust for the Monthly Period immediately
preceding the Distribution Date $30,882,106.84
(b) The aggregate amount of Recoveries of Defaulted Receivables
processed during the Monthly Period immediately
preceding the Distribution Date $3,455,900.78
(c) The Defaulted Amount for the Monthly Period immediately
preceding the Distribution Date [Defaulted Receivables
minus Recoveries] $27,426,206.06
(d) The Defaulted Amount for the Monthly Period immediately
preceding the Distribution Date allocable to the Series
1994-1 Certificates
(the "Investor Default Amount") $2,761,735.67
(6) Investor Charge-Offs
(a) The amount withdrawn, if any, under the Series
Enhancement $0.00
(b) The excess of the Investor Default Amount over the sum of
(i) the Available Finance Charge Collections applied to
such Investor Default Amount and (ii) the amount of
the withdrawal, if any, under the Series Enhancement
applied to such Investor Default Amount (an "Investor
Charge-Off") $0.00
(c) The amount of the Investor Charge-Off set forth in item 6(b)
above, per $1,000 original certificate principal amount
(which will have the effect of reducing, pro rata,
the amount of each Series 1994-1 Certificateholder's
investment) $0.000000
(d) The total amount reimbursed to the Trust for such
Distribution Date in respect of Investor Charge-Offs
for prior Distribution Dates $0.00
(e) The amount set forth in item 6(d) above per $1,000 original
certificate principal amount (which will have the effect
of increasing, pro rata, the amount of each Series
1994-1 Certificateholder's investment) $0.000000
(f) The amount, if any, by which the outstanding principal
balance of the Series 1994-1 Certificates exceeds the
Series 1994-1 Invested Amount as of the Distribution
Date, after giving effect to all deposits, withdrawals
and distributions on such Distribution Date $0.00
(7) Investor Monthly Servicing Fee
The amount of the Series 1994-1 Monthly Servicing Fee
payable to the Servicer on the Distribution
Date $692,708.33
(8) Available Series Enhancement Amount
(a) The Available Cash Collateral Amount for the Series 1994-1
Certificateholders as of the close of business on the
Distribution Date, after giving effect to all deposits,
withdrawals and distributions on such Distribution
Date and the related Transfer Date $95,000,000.00
(b) The percentage of the Available Cash Collateral Amount to
the Invested Amount of the Series 1994-1 Certificates
as of the close of business on the Distribution Date,
after giving effect to all deposits, withdrawals and
distributions on such Distribution Date and the
related Transfer Date 20.00%
(c) The amount of the Enhancement Invested Amount, if any, as of
the close of business on the Distribution Date, after
giving effect to all deposits, withdrawals and
distributions on such Distribution Date and the
related Transfer Date $0.00
(9) Principal Funding Account Amount
(a) The amount on deposit in the Principal Funding Account as of
the close of business on the Distribution Date, after
giving effect to all deposits, withdrawals and
distributions on such Distribution Date and the related
Transfer Date $79,166,666.67
(b) Deposits in the Principal Funding Account are currently
scheduled to commence on the Distribution Date occurring
in January, 1997. (The initial funding date for the Principal
Funding Account may be modified in certain circumstances in
accordance with the terms of the Series Supplement.)
(10) Deficit Controlled Accumulation Amount
The Deficit Controlled Accumulation Amount for the
Distribution Date, after giving effect to all deposits,
withdrawals and distributions on such Distribution Date and
the related Transfer Date $0.00
(11) Reserve Account
(a) The amount on deposit in the Reserve Account as of the
close of business on the Distribution Date, after
giving effect to all deposits, withdrawals and
distributions on such Distribution Date and the
related Transfer Date $2,137,500.00
(b) The Required Reserve Account Amount (which may vary in
accordance with the terms of the Series Supplement) is
currently calculated to be $2,137,500.00
(c) Deposits in the Reserve Account commenced on the
Distribution Date occurring in December, 1996.
(The initial funding date for the Reserve Account may
be modified in certain circumstances in accordance
with the terms of the Series Supplement.)
C) Invested Amount
(1) The Invested Amount of the Series 1994-1 Certificates on the
date of issuance (the "Initial Invested Amount") $475,000,000.00
(2) The Invested Amount of the Series 1994-1 Certificates on the
Distribution Date, after giving effect to all deposits,
withdrawals and distributions on such Distribution
Date $475,000,000.00
(3) The Pool Factor for the Distribution Date (which represents
the ratio of the Invested Amount of the Series 1994-1 Certificates
as of such Distribution Date, after giving effect to any
adjustment in the Invested Amount of the 1994-1 Certificates
on such date, to the Initial Invested Amount of the Series
1994-1 Certificates). The amount of a Certificateholder's pro
rata share of the Invested Amount can be determined by
multiplying the original denomination of the
Certificateholder's Certificate by the Pool Factor 1.000000
D) Receivables Balances
(1) The aggregate amount of Principal Receivables in the Trust
at the close of business on the last day of the immediately
preceding Monthly Period $4,694,270,929
(2) The aggregate amount of Finance Charge Receivables in the
Trust at the close of business on the last day of the
immediately preceding Monthly Period $89,386,778
E) Annualized Percentages
(1) The Gross Yield (Available Finance Charge Collections for
the Series 1994-1 Certificates for the preceding Monthly Period
divided by the Invested Amount of the Series 1994-1
Certificates as of the last day of the next preceding Monthly
Period, multiplied by 12) 21.14%
(2) The Net Loss Rate (the Investor Default Amount for the
1994-1 Certificates for the preceding Monthly Period divided
by the Invested Amount of the Series 1994-1 Certificates
as of the last day of the next preceding Monthly Period,
multiplied by 12) 6.98%
(3) The Portfolio Yield (the Gross Yield minus the Net Loss Rate
for the Series 1994-1 Certificates for the preceding
Monthly Period) 14.16%
(4) The Base Rate (Monthly Interest plus Monthly Servicing Fee
for the preceding Monthly Period divided by the Invested Amount
of the Series 1994-1 Certificates as of the last day of the
next preceding Monthly Period, multiplied by 12) 8.65%
(5) The Net Spread (the Portfolio Yield minus the Base Rate for
the Series 1994-1 Certificates for the preceding Monthly
Period) 5.51%
(6) The Monthly Payment Rate (Collections of Principal
Receivables and Finance Charge Receivables with respect to
all Receivables in the Trust for the preceding Monthly
Period divided by the amount of Receivables in the Trust
as of the last day of the next preceding Monthly Period) 7.72%
F) Series 1994-1 Information for the Last Three Distribution Dates
1) Gross Yield
a) 1/15/97 21.14%
b) 12/16/96 20.88%
c) 11/15/96 21.42%
2) Net Loss Rate
a) 1/15/97 6.98%
b) 12/16/96 6.94%
c) 11/15/96 7.80%
3) Net Spread (Portfolio Yield Minus Base Rate)
a) 1/15/97 5.51%
b) 12/16/96 5.29%
c) 11/15/96 4.97%
Three Month Average 5.26%
4) Monthly Payment Rate
a) 1/15/97 7.72%
b) 12/16/96 6.57%
c) 11/15/96 7.78%
FIRST DEPOSIT NATIONAL BANK,
Servicer
By: /s/ David J. Petrini
_______________________________
Name: David J. Petrini
Title: Senior Vice President and Senior Financial
Officer
MONTHLY STATEMENT
_____________________________________________
FIRST DEPOSIT MASTER TRUST
SERIES 1995-1
_____________________________________________
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1993
(as amended and supplemented, the "Agreement"), as supplemented by the Series
1995-1 Supplement dated as of June 1, 1995 (as amended and supplemented, the
"Series Supplement"), among First Deposit National Bank ("FDNB"), Seller and
Servicer, Providian National Bank, Seller, and Bankers Trust Company, Trustee,
FDNB as Servicer is required to prepare certain information each month
regarding current distributions to Senior Certificateholders and the
Collateral Interest Holder and the performance of the First Deposit Master
Trust (the "Trust") during the previous month. The information which is
required to be prepared for the Series 1995-1 Certificates with respect to the
Distribution Date occurring on January 15, 1997, and with respect to the
performance of the Trust during the month of December is set forth below.
Certain of the information is presented on the basis of an original principal
amount of $1,000 per Investor Certificate. Certain other information is
presented based on the aggregate amounts for the Trust as a whole.
Capitalized terms used in this Certificate have their respective meanings set
forth in the Agreement or Series Supplement, as applicable.
A) Information Regarding the Current Monthly Distribution for the Series
1995-1 Senior Certificates (stated on the basis of $1,000 original
certificate principal amount)
(1) The total amount distributed to Senior Certificateholders per
$1,000 original certificate principal amount $4.829558
(2) The amount set forth in A(1) above distributed to Senior
Certificateholders with respect to interest per $1,000 original
certificate principal amount $4.829558
(3) The amount set forth in A(1) above distributed to Senior
Certificateholders with respect to principal per $1,000 original
certificate principal amount $0.000000
B) Information Regarding the Performance of the Trust
(1) Allocation of Receivables Collections to the Series 1995-1
Certificates
(a) The aggregate amount of Finance Charge Receivables collected
during the Monthly Period immediately preceding the
Distribution Date $81,711,532.83
(b) The aggregate amount of Interchange collected and allocated
to the Trust for the Monthly Period immediately preceding
the Distribution Date $1,374,252.00
(c) The aggregate amount of Principal Receivables collected
during the Monthly Period immediately preceding the
Distribution Date $288,556,665.23
(d) The Floating Allocation Percentage with respect to the
Series 1995-1 Certificates for the Monthly Period
immediately preceding the Distribution Date 20.139393%
(e) The Principal Allocation Percentage with respect to the
Series 1995-1 Certificates for the Monthly Period immediately
preceding the Distribution Date 20.139393%
(f) The Finance Charge Receivables and Interchange collected and
allocated to the Series 1995-1 Certificates for the Monthly
Period immediately preceding the Distribution
Date $16,732,972.46
(g) The Principal Receivables collected and allocated to the
Series 1995-1 Certificates for the Monthly Period immediately
preceding the Distribution Date $58,113,559.88
(2) Available Finance Charge Collections and Reallocated Principal
Collections for Series 1995-1 for the Monthly Period immediately
preceding the Distribution Date
(a) The Finance Charge Receivables and Interchange collected and
allocated to the Series 1995-1 Certificates $16,732,972.46
(b) Collection Account and Special Funding Account investment
earnings allocated to the Series 1995-1
Certificates $2,374.25
(c) Principal Funding Account Investment Proceeds $0.00
(d) Prefunding Account Investment Proceeds $0.00
(e) Reserve Account withdrawals, if applicable $0.00
(f) Additional Finance Charges from other Series allocated to
the Series 1995-1 Certificates $0.00
(g) Payments, if any, on deposit as of the Determination Date
received from any Interest Rate Protection Agreements $0.00
(h) Reallocated Principal Collections $0.00
(i) Total Available Finance Charge Collections and Reallocated
Principal Collections for Series 1995-1 (total of (a),
(b), (c), (d), (e), (f), (g) and (h) above) $16,735,346.71
(3) Available Principal Collections for Series 1995-1 for the Monthly
Period immediately preceding the Distribution Date
(a) The Principal Receivables collected and allocated to the
Series 1995-1 Certificates $58,113,559.88
(b) Shared Principal Collections from other Series allocated to
the Series 1995-1 Certificates $0.00
(c) Additional amounts to be treated as Available Principal
Collections pursuant to the Series Supplement $5,523,471.33
(d) Reallocated Principal Collections $0.00
(e) Available Principal Collections for Series 1995-1 (total of
(a), (b) and (c) minus (d) above) $63,637,031.22
(4) Delinquent Balances in the Trust
The aggregate outstanding balance of the Accounts which were
delinquent as of the close of business on the last day of the
Monthly Period immediately preceding the Distribution Date.
(a) 31-60 days $97,685,404
(b) 61-90 days 55,133,614
(c) 91 or more days 92,468,624
(d) Total Delinquencies $245,287,642
(5) Defaulted Amount
(a) The aggregate amount of Defaulted Receivables with respect
to the Trust for the Monthly Period immediately preceding
the Distribution Date $30,882,106.84
(b) The aggregate amount of Recoveries of Defaulted Receivables
processed during the Monthly Period immediately preceding
the Distribution Date $3,455,900.78
(c) The Defaulted Amount for the Monthly Period immediately
preceding the Distribution Date [Defaulted Receivables
minus Recoveries] $27,426,206.06
(d) The Defaulted Amount for the Monthly Period immediately
preceding the Distribution Date allocable to the Series
1995-1 Certificates (the "Series 1995-1 Defaulted
Amount") $5,523,471.33
(e) The Senior Defaulted Amount [Series 1995-1 Defaulted Amount
multiplied by the Senior Percentage] $4,363,542.35
(6) Senior Charge-Offs
(a) The excess, if any, of the Senior Defaulted Amount over the
sum of (i) Available Finance Charge Collections applied
to such Senior Defaulted Amount, (ii) Reallocated Principal
Collections and (iii) the amount by which the Collateral
Invested Amount has been reduced in respect of such Senior
Defaulted Amount (a "Senior Charge-Off") $0.00
(b) The amount of the Senior Charge-Off set forth in item 6(a)
above, per $1,000 original certificate principal amount
(which will have the effect of reducing, pro rata, the
amount of each Senior Certificateholder's
investment) $0.000000
(c) The total amount reimbursed on the Distribution Date in
respect of Senior Charge-Offs for prior Distribution
Dates $0.00
(d) The amount set forth in item 6(c) above per $1,000 original
certificate principal amount (which will have the effect
of increasing, pro rata, the amount of each Senior
Certificateholder's investment) $0.000000
(e) The amount, if any, by which the outstanding principal
balance of the Senior Certificates exceeds the Senior Invested
Amount and the Senior Initial Percentage of the Prefunding
Account Balance, if any, as of the Distribution Date, after
giving effect to all deposits, withdrawals and
distributions on such Distribution Date $0.00
(7) Reductions in the Collateral Interest
(a) The excess, if any, of the Collateral Defaulted Amount over
Available Finance Charge Collections applied to such
Collateral Defaulted Amount $0.00
(b) The amount by which the Collateral Invested Amount has been
reduced on the Distribution Date in respect of
Reallocated Principal Collections $0.00
(c) The amount by which the Collateral Invested Amount has been
reduced on the Distribution Date in respect of the unpaid
Required Amount $0.00
(d) The total amount by which the Collateral Invested Amount has
been reduced on the Distribution Date as set forth in items
7(a), (b) and (c) $0.00
(e) The total amount reimbursed on the Distribution Date in
respect of reductions in the Collateral Invested Amount on
prior Distribution Dates $0.00
(f) The amount, if any, by which the outstanding principal
balance of the Collateral Interest exceeds the Collateral
Invested Amount and the Collateral Percentage of the
Prefunding Account Balance, if any, as of the Distribution
Date, after giving effect to all deposits, withdrawals
and distributions on the Distribution Date $0.00
(8) Investor Monthly Servicing Fee
The amount of the Series 1995-1 Monthly Servicing Fee payable
to the Servicer on the Distribution Date $1,385,416.67
(9) Prefunding Account
(a) The Prefunding Account Balance on the Distribution
Date $0.00
(b) The Senior Percentage of the Prefunding Account Balance
on the Distribution Date $0.00
(c) The Collateral Percentage of the Prefunding Account Balance
on the Distribution Date $0.00
(10) Senior Monthly Interest
(a) Senior Monthly Interest payable on the Distribution
Date $3,624,583.53
(11) Principal Funding Account Amount
(a) The amount on deposit in the Principal Funding Account on
the Distribution Date, after giving effect to all deposits,
withdrawals and distributions on such Distribution
Date $0.00
(b) Deposits to the Principal Funding Account are currently
scheduled to commence on the Distribution Date occurring in
September, 1999. (The initial funding date for the Principal
Funding Account may be modified in certain circumstances in
accordance with the terms of the Series Supplement.)
(12) Deficit Controlled Accumulation Amount
The Deficit Controlled Accumulation Amount for the Distribution
Date, after giving effect to all deposits, withdrawals and
distributions on such Distribution Date $0.00
(13) Reserve Account (if applicable)
(a) The amount on deposit in the Reserve Account, if funded, on
the Distribution Date, after giving effect to all
deposits, withdrawals and distributions on such Distribution
Date and the related Transfer Date N/A
(b) The Required Reserve Account Amount, if any, selected by the
Servicer N/A
C) Senior Invested Amount
(1) The Senior Invested Amount and the Senior Percentage of the
Prefunding Account Balance on the date of issuance
(the "Senior Initial Amount") $750,500,000.00
(2) The Senior Invested Amount and the Senior Percentage of the
Prefunding Account Balance, if any, on the Distribution Date,
after giving effect to all deposits, withdrawals and
distributions on such Distribution Date $750,500,000.00
(3) The Pool Factor for the Distribution Date (which represents the
ratio of the Senior Invested Amount and the Senior
Percentage of the Prefunding Account Balance, if any, as of such
Distribution Date, after giving effect to any adjustment in the
Senior Invested Amount on such Distribution Date, to the Senior
Initial Amount). The amount of a Senior Certificateholder's
pro rate share of the Senior Invested Amount and the Prefunding
Account Balance, if any, can be determined by multiplying the
original denomination of the Senior Certificateholder's
Certificate by the Pool Factor 1.000000
D) Collateral Invested Amount
(1) The Collateral Invested Amount and the Collateral Percentage of
the Prefunding Account Balance on the date of
issuance $199,500,000.00
(2) The Collateral Invested Amount and the Collateral Percentage of
the Prefunding Account Balance, if any, on the Distribution Date,
after giving effect to all deposits, withdrawals and
distributions on such Distribution Date $199,500,000.00
(3) The Collateral Invested Amount as a percentage of the sum of the
Collateral Invested Amount and the Senior Invested Amount on such
Distribution Date 21.00%
E) Receivables Balances
(1) The aggregate amount of Principal Receivables in the Trust at the
close of business on the last day of the immediately preceding
Monthly Period $4,694,270,929
(2) The aggregate amount of Finance Charge Receivables in the Trust
at the close of business on the last day of the immediately
preceding Monthly Period $89,386,778
F) Annualized Percentages
(1) The Gross Yield (Available Finance Charge Collections for the
Series 1995-1 Certificates for the preceding Monthly Period
(excluding payments received from Interest Rate Protection
Agreements) divided by the Invested Amount of the Series 1995-1
Certificates and the Prefunding Account balance, if any, as of
the last day of the next preceding Monthly Period, multiplied
by 12) 21.14%
(2) The Net Loss Rate (the Series 1995-1 Defaulted Amount for the
preceding Monthly Period divided by the Invested Amount of the
Series 1995-1 Certificates and the Prefunding Account balance, if
any, as of the last day of the next preceding Monthly Period,
multiplied by 12) 6.98%
(3) The Portfolio Yield (the Gross Yield minus the Net Loss Rate for
the Series 1995-1 Certificates for the preceding Monthly
Period) 14.16%
(4) The Base Rate (Monthly Interest plus Monthly Servicing Fee (based
on an assumed Servicing Fee Rate of 2% per annum) for the
preceding Monthly Period with respect to the related Distribution
Date, divided by the Invested Amount of the Series 1995-1
Certificates and the Prefunding Account Balance,if any, as of
the last day of the next preceding Monthly Period, multiplied
by 12) 7.84%
(5) The Net Spread (the Portfolio Yield minus the Base Rate for the
Series 1995-1 Certificates for the preceding Monthly Period) 6.32%
(6) The Monthly Payment Rate (Collections of Principal Receivables
and Finance Charge Receivables with respect to all Receivables
in the Trust for the preceding Monthly Period divided by the
amount of Receivables in the Trust as of the last day of the
next preceding Monthly Period) 7.72%
G) Series 1995-1 Information for the Last Three Distribution Dates
1) Gross Yield
a) 1/15/97 21.14%
b) 12/16/96 18.26%
c) 11/15/96 21.42%
2) Net Loss Rate
a) 1/15/97 6.98%
b) 12/16/96 6.94%
c) 11/15/96 7.80%
3) Net Spread (Portfolio Yield Minus Base Rate)
a) 1/15/97 6.32%
b) 12/16/96 3.49%
c) 11/15/96 5.78%
Three Month Average 5.20%
4) Monthly Payment Rate
a) 1/15/97 7.72%
b) 12/16/96 6.57%
c) 11/15/96 7.78%
FIRST DEPOSIT NATIONAL BANK,
Servicer
By: /s/ David J. Petrini
________________________
Name: David J. Petrini
Title: Senior Vice President and Senior Financial
Officer
MONTHLY STATEMENT
_____________________________________________
FIRST DEPOSIT MASTER TRUST
SERIES 1995-2
_____________________________________________
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1993
(as amended and supplemented, the "Agreement"), as supplemented by the Series
1995-2 Supplement dated as of June 1, 1995 (as amended and supplemented, the
"Series Supplement"), among First Deposit National Bank ("FDNB"), Seller and
Servicer, Providian National Bank, Seller, and Bankers Trust Company, Trustee,
FDNB as Servicer is required to prepare certain information each month
regarding current distributions to Senior Certificateholders and the
Collateral Interest Holder and the performance of the First Deposit Master
Trust (the "Trust") during the previous month. The information which is
required to be prepared for the Series 1995-2 Certificates with respect to the
Distribution Date occurring on January 15, 1997, and with respect to the
performance of the Trust during the month of December is set forth below.
Certain of the information is presented on the basis of an original principal
amount of $1,000 per Investor Certificate. Certain other information is
presented based on the aggregate amounts for the Trust as a whole.
Capitalized terms used in this Certificate have their respective meanings set
forth in the Agreement or Series Supplement, as applicable.
A) Information Regarding the Current Monthly Distribution for the Series
1995-2 Senior Certificates (stated on the basis of $1,000 original
certificate principal amount)
(1) The total amount distributed to Senior Certificateholders per
$1,000 original certificate principal amount $5.041667
(2) The amount set forth in A(1) above distributed to Senior
Certificateholders with respect to interest per $1,000 original
certificate principal amount $5.041667
(3) The amount set forth in A(1) above distributed to Senior
Certificateholders with respect to principal per $1,000 original
certificate principal amount $0.000000
B) Information Regarding the Performance of the Trust
(1) Allocation of Receivables Collections to the Series 1995-2
Certificates
(a) The aggregate amount of Finance Charge Receivables collected
during the Monthly Period immediately preceding the
Distribution Date $81,711,532.83
(b) The aggregate amount of Interchange collected and allocated
to the Trust for the Monthly Period immediately preceding
the Distribution Date $1,374,252.00
(c) The aggregate amount of Principal Receivables collected
during the Monthly Period immediately preceding the
Distribution Date $288,556,665.23
(d) The Floating Allocation Percentage with respect to the
Series 1995-2 Certificates for the Monthly Period immediately
preceding the Distribution Date 11.659648%
(e) The Principal Allocation Percentage with respect to the
Series 1995-2 Certificates for the Monthly Period immediately
preceding the Distribution Date 11.659648%
(f) The Finance Charge Receivables and Interchange collected and
allocated to the Series 1995-2 Certificates for the Monthly Period
immediately preceding the Distribution Date $9,687,510.37
(g) The Principal Receivables collected and allocated to the
Series 1995-2 Certificates for the Monthly Period immediately
preceding the Distribution Date $33,644,692.56
(2) Available Finance Charge Collections and Reallocated Principal
Collections for Series 1995-2 for the Monthly Period immediately
preceding the Distribution Date
(a) The Finance Charge Receivables and Interchange collected and
allocated to the Series 1995-2 Certificates $9,687,510.37
(b) Collection Account and Special Funding Account investment
earnings allocated to the Series 1995-2 Certificates $1,374.57
(c) Principal Funding Account Investment Proceeds $0.00
(d) Reserve Account withdrawals $0.00
(e) Additional Finance Charges from other Series allocated to
the Series 1995-2 Certificates $0.00
(f) Payments, if any, on deposit as of the Determination Date
received from any Interest Rate Protection Agreements $0.00
(g) Reallocated Principal Collections $0.00
(h) Total Available Finance Charge Collections and Reallocated
Principal Collections for Series 1995-2 (total of (a), (b),
(c), (d), (e), (f) and (g) above) $9,688,884.95
(3) Available Principal Collections for Series 1995-2 for the Monthly
Period immediately preceding the Distribution Date
(a) The Principal Receivables collected and allocated to the
Series 1995-2 Certificates $33,644,692.56
(b) Shared Principal Collections from other Series allocated to
the Series 1995-2 Certificates $0.00
(c) Additional amounts to be treated as Available Principal
Collections pursuant to the Series Supplement $3,197,799.20
(d) Reallocated Principal Collections $0.00
(e) Available Principal Collections for Series 1995-2 (total of
(a), (b) and (c) minus (d) above) $36,842,491.77
(4) Delinquent Balances in the Trust
The aggregate outstanding balance of the Accounts which were
delinquent as of the close of business on the last day of the Monthly
Period immediately preceding the Distribution Date.
(a) 31-60 days $97,685,404
(b) 61-90 days 55,133,614
(c) 91 or more days 92,468,624
(d) Total Delinquencies $245,287,642
(5) Defaulted Amount
(a) The aggregate amount of Defaulted Receivables with respect to
the Trust for the Monthly Period immediately preceding the
Distribution Date $30,882,106.84
(b) The aggregate amount of Recoveries of Defaulted Receivables
processed during the Monthly Period immediately preceding
the Distribution Date $3,455,900.78
(c) The Defaulted Amount for the Monthly Period immediately
preceding the Distribution Date [Defaulted Receivables
minus Recoveries] $27,426,206.06
(d) The Defaulted Amount for the Monthly Period immediately
preceding the Distribution Date allocable to the Series
1995-2 Certificates (the "Series 1995-2 Defaulted
Amount") $3,197,799.19
(e) The Senior Defaulted Amount [Series 1995-2 Defaulted Amount
multiplied by the Senior Percentage] $2,590,217.35
(6) Senior Charge-Offs
(a) The excess, if any, of the Senior Defaulted Amount over the
sum of (i) Available Finance Charge Collections applied
to such Senior Defaulted Amount, (ii) Reallocated Principal
Collections and (iii) the amount by which the Collateral
Invested Amount has been reduced in respect of such Senior
Defaulted Amount (a "Senior Charge-Off") $0.00
(b) The amount of the Senior Charge-Off set forth in item 6(a)
above, per $1,000 original certificate principal amount
(which will have the effect of reducing, pro rata, the
amount of each Senior Certificateholder's
investment) $0.000000
(c) The total amount reimbursed on the Distribution Date in
respect of Senior Charge-Offs for prior Distribution
Dates $0.00
(d) The amount set forth in item 6(c) above per $1,000 original
certificate principal amount (which will have the effect
of increasing, pro rata, the amount of each Senior
Certificateholder's investment) $0.000000
(e) The amount, if any, by which the outstanding principal
balance of the Senior Certificates exceeds the Senior
Invested Amount as of the Distribution Date, after giving
effect to all deposits, withdrawals and distributions on such
Distribution Date $0.00
(7) Reductions in the Collateral Interest
(a) The excess, if any, of the Collateral Defaulted Amount over
Available Finance Charge Collections applied to such
Collateral Defaulted Amount $0.00
(b) The amount by which the Collateral Invested Amount has been
reduced on the Distribution Date in respect of
Reallocated Principal Collections $0.00
(c) The amount by which the Collateral Invested Amount has been
reduced on the Distribution Date in respect of the unpaid
Required Amount $0.00
(d) The total amount by which the Collateral Invested Amount has
been reduced on the Distribution Date as set forth in items
7(a), (b) and (c) $0.00
(e) The total amount reimbursed on the Distribution Date in
respect of reductions in the Collateral Invested Amount on
prior Distribution Dates $0.00
(f) The amount, if any, by which the outstanding principal
balance of the Collateral Interest exceeds the Collateral
Invested Amount as of the Distribution Date, after giving
effect to all deposits, withdrawals and distributions on the
Distribution Date $0.00
(8) Investor Monthly Servicing Fee
The amount of the Series 1995-2 Monthly Servicing Fee payable to the
Servicer on the Distribution Date $802,083.33
(9) Senior Monthly Interest
(a) Senior Monthly Interest payable on the Distribution
Date $2,246,062.50
(10) Principal Funding Account Amount
(a) The amount on deposit in the Principal Funding Account on
the Distribution Date, after giving effect to all deposits,
withdrawals and distributions on such Distribution Date $0.00
(b) Deposits to the Principal Funding Account are currently
scheduled to commence on the Distribution Date occurring
in January 1998. (The initial funding date for the Principal
Funding Account may be modified in certain circumstances in
accordance with the terms of the Series Supplement.)
(11) Deficit Controlled Accumulation Amount
The Deficit Controlled Accumulation Amount for the Distribution
Date, after giving effect to all deposits, withdrawals and
distributions on such Distribution Date $0.00
(12) Reserve Account
(a) The amount on deposit in the Reserve Account on the
Distribution Date, after giving effect to all deposits,
withdrawals and distributions on such Distribution Date
and the related Transfer Date $0.00
(b) The Required Reserve Account Amount (which may vary in
accordance with the terms of the Series Supplement) is
currently calculated to be $0.00
(c) Deposits to the Reserve Account are currently scheduled to
commence on the Distribution Date occurring in December 1997.
(The initial funding date for the Reserve Account may be
modified in certain circumstances in accordance with the terms
of the Series Supplement.)
C) Senior Invested Amount
(1) The Senior Invested Amount on the date of issuance (the "Senior
Initial Invested Amount") $445,500,000.00
(2) The Senior Invested Amount on the Distribution Date, after giving
effect to all deposits, withdrawals and distributions on such
Distribution Date $445,500,000.00
(3) The Pool Factor for the Distribution Date (which represents the
ratio of the Senior Invested Amount as of such Distribution Date,
after giving effect to any adjustment in the Senior Invested
Amount on such Distribution Date, to the Senior Initial
Invested Amount). The amount of a Senior Certificateholder's
pro rate share of the Senior Invested Amount can be determined
by multiplying the original denomination of the Senior
Certificateholder's Certificate by the Pool Factor 1.000000
D) Collateral Invested Amount
(1) The Collateral Invested Amount on the date of
issuance $104,500,000.00
(2) The Collateral Invested Amount on the Distribution Date, after
giving effect to all deposits, withdrawals and distributions
on such Distribution Date $ 104,500,000.00
(3) The Collateral Invested Amount as a percentage of the sum of the
Collateral Invested Amount and the Senior Invested Amount on such
Distribution Date 19.00%
E) Receivables Balances
(1) The aggregate amount of Principal Receivables in the Trust at the
close of business on the last day of the immediately preceding
Monthly Period $4,694,270,929
(2) The aggregate amount of Finance Charge Receivables in the Trust
at the close of business on the last day of the immediately
preceding Monthly Period $89,386,778
F) Annualized Percentages
(1) The Gross Yield (Available Finance Charge Collections for the
Series 1995-2 Certificates for the preceding Monthly Period
(excluding payments received from Interest Rate Protection
Agreements) divided by the Invested Amount of the Series
1995-2 Certificates as of the last day of the next preceding Monthly
Period, multiplied by 12) 21.14%
(2) The Net Loss Rate (the Series 1995-2 Defaulted Amount for the
preceding Monthly Period divided by the Invested Amount of the
Series 1995-2 Certificates as of the last day of the
next preceding Monthly Period, multiplied by 12) 6.98%
(3) The Portfolio Yield (the Gross Yield minus the Net Loss Rate for
the Series 1995-2 Certificates for the preceding Monthly Period) 14.16%
(4) The Base Rate (Monthly Interest plus Monthly Servicing Fee (based
on an assumed Servicing Fee Rate of 2% per annum) for the preceding
Monthly Period divided by the Invested Amount of the Series 1995-2
Certificates as of the last day of the next preceding Monthly
Period, multiplied by 12) 8.04%
(5) The Net Spread (the Portfolio Yield minus the Base Rate for the
Series 1995-2 Certificates for the preceding Monthly Period) 6.12%
(6) The Monthly Payment Rate (Collections of Principal Receivables
and Finance Charge Receivables with respect to all Receivables
in the Trust for the preceding Monthly Period divided by the
amount of Receivables in the Trust as of the last day of the next
preceding Monthly Period) 7.72%
G) Series 1995-2 Information for the Last Three Distribution Dates
1) Gross Yield
a) 1/15/97 21.14%
b) 12/16/96 18.33%
c) 11/15/96 21.42%
2) Net Loss Rate
a) 1/15/97 6.98%
b) 12/16/96 6.94%
c) 11/15/96 7.80%
3) Net Spread (Portfolio Yield Minus Base Rate)
a) 1/15/97 6.12%
b) 12/16/96 3.35%
c) 11/15/96 5.58%
Three Month Average 5.02%
4) Monthly Payment Rate
a) 1/15/97 7.72%
b) 12/16/96 6.57%
c) 11/15/96 7.78%
FIRST DEPOSIT NATIONAL BANK,
Servicer
By: /s/ David J. Petrini
_________________________________
Name: David J. Petrini
Title: Senior Vice President and Senior
Financial Officer
MONTHLY STATEMENT
_____________________________________________
FIRST DEPOSIT MASTER TRUST
SERIES 1996-1
_____________________________________________
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1993
(as amended and supplemented, the "Agreement"), as supplemented by the Series
1996-1 Supplement dated as of June 1, 1996 (as amended and supplemented, the
"Series Supplement"), among First Deposit National Bank ("FDNB"), Seller and
Servicer, Providian National Bank, Seller, and Bankers Trust Company, Trustee,
FDNB as Servicer is required to prepare certain information each month
regarding current distributions to Senior Certificateholders and the
Collateral Interest Holder and the performance of the First Deposit Master
Trust (the "Trust") during the previous month. The information which is
required to be prepared for the Series 1996-1 Certificates with respect to the
Distribution Date occurring on January 15, 1997, and with respect to the
performance of the Trust during the month of December is set forth below.
Certain of the information is presented on the basis of an original principal
amount of $1,000 per Investor Certificate. Certain other information is
presented based on the aggregate amounts for the Trust as a whole.
Capitalized terms used in this Certificate have their respective meanings set
forth in the Agreement or Series Supplement, as applicable.
A) Information Regarding the Current Monthly Distribution for the Series
1996-1 Senior Certificates (stated on the basis of $1,000 original
certificate principal amount)
(1) The total amount distributed to Senior Certificateholders per
$1,000 original certificate principal amount $4.812892
(2) The amount set forth in A(1) above distributed to Senior
Certificateholders with respect to interest per $1,000 original
certificate principal amount $4.812892
(3) The amount set forth in A(1) above distributed to Senior
Certificateholders with respect to principal per $1,000 original
certificate principal amount $0.000000
B) Information Regarding the Performance of the Trust
(1) Allocation of Receivables Collections to the Series 1996-1
Certificates
(a) The aggregate amount of Finance Charge Receivables collected
during the Monthly Period immediately preceding the
Distribution Date $81,711,532.83
(b) The aggregate amount of Interchange collected and allocated
to the Trust for the Monthly Period immediately preceding
the Distribution Date $1,374,252.00
(c) The aggregate amount of Principal Receivables collected
during the Monthly Period immediately preceding the
Distribution Date $288,556,665.23
(d) The Floating Allocation Percentage with respect to the
Series 1996-1 Certificates for the Monthly Period
immediately preceding the Distribution Date 20.139393%
(e) The Principal Allocation Percentage with respect to the
Series 1996-1 Certificates for the Monthly Period
immediately preceding the Distribution Date 20.139393%
(f) The Finance Charge Receivables and Interchange collected and
allocated to the Series 1996-1 Certificates for the Monthly
Period immediately preceding the Distribution
Date $16,732,972.46
(g) The Principal Receivables collected and allocated to the
Series 1996-1 Certificates for the Monthly Period
immediately preceding the Distribution Date $58,113,559.88
(2) Available Finance Charge Collections and Reallocated Principal
Collections for Series 1996-1 for the Monthly Period immediately
preceding the Distribution Date
(a) The Finance Charge Receivables and Interchange collected and
allocated to the Series 1996-1 Certificates $16,732,972.46
(b) Collection Account and Special Funding Account investment
earnings allocated to the Series 1996-1 Certificates $2,374.25
(c) Principal Funding Account Investment Proceeds $0.00
(d) Prefunding Account Investment Proceeds $0.00
(e) Reserve Account withdrawals, if applicable $0.00
(f) Additional Finance Charges from other Series allocated to
the Series 1996-1 Certificates $0.00
(g) Payments, if any, on deposit as of the Determination Date
received from any Interest Rate Protection Agreements $0.00
(h) Reallocated Principal Collections $0.00
(i) Total Available Finance Charge Collections and Reallocated
Principal Collections for Series 1996-1 (total of
(a), (b), (c), (d), (e), (f), (g) and (h) above) $16,735,346.71
(3) Available Principal Collections for Series 1996-1 for the Monthly
Period immediately preceding the Distribution Date
(a) The Principal Receivables collected and allocated to the
Series 1996-1 Certificates $58,113,559.88
(b) Shared Principal Collections from other Series allocated to
the Series 1996-1 Certificates $0.00
(c) Additional amounts to be treated as Available Principal
Collections pursuant to the Series Supplement $5,523,471.33
(d) Reallocated Principal Collections $0.00
(e) Available Principal Collections for Series 1996-1 (total of
(a), (b) and (c) minus (d) above) $63,637,031.22
(4) Delinquent Balances in the Trust
The aggregate outstanding balance of the Accounts which were
delinquent as of the close of business on the last day of the
Monthly Period immediately preceding the Distribution Date.
(a) 31-60 days $97,685,404
(b) 61-90 days 55,133,614
(c) 91 or more days 92,468,624
(d) Total Delinquencies $245,287,642
(5) Defaulted Amount
(a) The aggregate amount of Defaulted Receivables with respect
to the Trust for the Monthly Period immediately preceding
the Distribution Date $30,882,106.84
(b) The aggregate Amount of Recoveries of Defaulted Receivables
processed during the Monthly Period immediately preceding
the Distribution Date $3,455,900.78
(c) The Defaulted Amount for the Monthly Period immediately
preceding the Distribution Date [Defaulted Receivables minus
Recoveries] $27,426,206.06
(d) The Defaulted Amount for the Monthly Period immediately
preceding the Distribution Date allocable to the Series 1996-1
Certificates (the "Series 1996-1 Defaulted
Amount") $5,523,471.33
(e) The Senior Defaulted Amount [Series 1996-1 Defaulted Amount
multiplied by the Senior Percentage] $4,363,542.35
(6) Senior Charge-Offs
(a) The excess, if any, of the Senior Defaulted Amount over the
sum of (i) Available Finance Charge Collections applied
to such Senior Defaulted Amount, (ii) Reallocated Principal
Collections and (iii) the amount by which the Collateral
Invested Amount has been reduced in respect of such Senior
Defaulted Amount (a "Senior Charge-Off") $0.00
(b) The amount of the Senior Charge-Off set forth in item 6(a)
above, per $1,000 original certificate principal amount
(which will have the effect of reducing, pro rata, the
amount of each Senior Certificateholder's investment) $0.00
(c) The total amount reimbursed on the Distribution Date in
respect of Senior Charge-Offs for prior Distribution
Dates $0.00
(d) The amount set forth in item 6(c) above per $1,000 original
certificate principal amount (which will have the effect of
increasing, pro rata, the amount of each Senior
Certificateholder's investment) $0.00
(e) The amount, if any, by which the outstanding principal
balance of the Senior Certificates exceeds the Senior Invested
Amount and the Senior Initial Percentage of the Prefunding
Account Balance, if any, as of the Distribution Date, after
giving effect to all deposits, withdrawals and
distributions on such Distribution Date $0.00
(7) Reductions in the Collateral Interest
(a) The excess, if any, of the Collateral Defaulted Amount over
Available Finance Charge Collections applied to such
Collateral Defaulted Amount $0.00
(b) The amount by which the Collateral Invested Amount has been
reduced on the Distribution Date in respect of Reallocated
Principal Collections $0.00
(c) The amount by which the Collateral Invested Amount has been
reduced on the Distribution Date in respect of the unpaid
Required Amount $0.00
(d) The total amount by which the Collateral Invested Amount has
been reduced on the Distribution Date as set forth in items
7(a), (b) and (c) $0.00
(e) The total amount reimbursed on the Distribution Date in
respect of reductions in the Collateral Invested Amount
on prior Distribution Dates $0.00
(f) The amount, if any, by which the outstanding principal
balance of the Collateral Interest exceeds the Collateral
Invested Amount and the Collateral Percentage of the Prefunding
Account Balance, if any, as of the Distribution Date, after
giving effect to all deposits, withdrawals and
distributions on the Distribution Date $0.00
(8) Investor Monthly Servicing Fee
The amount of the Series 1996-1 Monthly Servicing Fee payable to
the Servicer on the Distribution Date $1,385,416.67
(9) Prefunding Account
(a) The Prefunding Account Balance on the Distribution
Date $0.00
(b) The Senior Percentage of the Prefunding Account Balance
on the Distribution Date $0.00
(c) The Collateral Percentage of the Prefunding Account Balance
on the Distribution Date $0.00
(10) Senior Monthly Interest
(a) Senior Monthly Interest payable on the Distribution
Date $3,612,075.20
(11) Principal Funding Account Amount
(a) The amount on deposit in the Principal Funding Account on
the Distribution Date, after giving effect to all deposits,
withdrawals and distributions on such Distribution Date $0.00
(b) Deposits to the Principal Funding Account are currently
scheduled to commence on the Distribution Date occurring
in November, 2001. (The initial funding date for the Principal
Funding Account may be modified in certain circumstances in
accordance with the terms of the Series Supplement.)
(12) Deficit Controlled Accumulation Amount
The Deficit Controlled Accumulation Amount for the Distribution
Date, after giving effect to all deposits, withdrawals and
distributions on such Distribution Date $0.00
(13) Reserve Account (if applicable)
(a) The amount on deposit in the Reserve Account, if funded, on
the Distribution Date, after giving effect to all deposits,
withdrawals and distributions on such Distribution Date and
the related Transfer Date N/A
(b) The Required Reserve Account Amount, if any, selected by the
Servicer N/A
C) Senior Invested Amount
(1) The Senior Invested Amount and the Senior Percentage of the
Prefunding Account Balance on the date of issuance
(the "Senior Initial Amount") $750,500,000.00
(2) The Senior Invested Amount and the Senior Percentage of the
Prefunding Account Balance, if any, on the Distribution Date,
after giving effect to all deposits, withdrawals and
distributions on such Distribution Date $750,500,000.00
(3) The Pool Factor for the Distribution Date (which represents the
ratio of the Senior Invested Amount and the Senior Percentage
of the Prefunding Account Balance, if any, as of such Distribution
Date, after giving effect to any adjustment in the Senior Invested
Amount on such Distribution Date, to the Senior Initial Amount).
The amount of a Senior Certificateholder's pro rate share of
the Senior Invested Amount and the Prefunding Account Balance,
if any, can be determined by multiplying the original
denomination of the Senior Certificateholder's Certificate by
the Pool Factor 1.000000
D) Collateral Invested Amount
(1) The Collateral Invested Amount and the Collateral Percentage of
the Prefunding Account Balance on the date of
issuance $199,500,000.00
(2) The Collateral Invested Amount and the Collateral Percentage of
the Prefunding Account Balance, if any, on the Distribution Date,
after giving effect to all deposits, withdrawals and
distributions on such Distribution Date $199,500,000.00
(3) The Collateral Invested Amount as a percentage of the sum of the
Collateral Invested Amount and the Senior Invested Amount on such
Distribution Date 21.00%
E) Receivables Balances
(1) The aggregate amount of Principal Receivables in the Trust at the
close of business on the last day of the immediately preceding
Monthly Period $4,694,270,929
(2) The aggregate amount of Finance Charge Receivables in the Trust
at the close of business on the last day of the immediately
preceding Monthly Period $89,386,778
F) Annualized Percentages
(1) The Gross Yield (Available Finance Charge Collections for the
Series 1996-1 Certificates for the preceding Monthly
Period (excluding payments received from Interest Rate
Protection Agreements) divided by the Invested Amount of the
Series 1996-1 Certificates and the Prefunding Account balance,
if any, as of the last day of the next preceding Monthly Period,
multiplied by 12) 21.14%
(2) The Net Loss Rate (the Series 1996-1 Defaulted Amount for the
preceding Monthly Period divided by the Invested Amount of the
Series 1996-1 Certificates and the Prefunding Account balance, if
any, as of the last day of the next preceding Monthly Period,
multiplied by 12) 6.98%
(3) The Portfolio Yield (the Gross Yield minus the Net Loss Rate for
the Series 1996-1 Certificates for the preceding Monthly
Period) 14.16%
(4) The Base Rate (Monthly Interest plus Monthly Servicing Fee (based
on an assumed Servicing Fee Rate of 2% per annum) for the
preceding Monthly Period with respect to the related Distribution
Date, divided by the Invested Amount of the Series 1996-1
Certificates and the Prefunding Account Balance, if any, as of
the last day of the next preceding Monthly Period, multiplied
by 12) 7.87%
(5) The Net Spread (the Portfolio Yield minus the Base Rate for the
Series 1996-1 Certificates for the preceding Monthly Period) 6.29%
(6) The Monthly Payment Rate (Collections of Principal Receivables
and Finance Charge Receivables with respect to all Receivables
in the Trust for the preceding Monthly Period divided by the
amount of Receivables in the Trust as of the last day of the next
preceding Monthly Period) 7.72%
G) Series 1996-1 Information for the Last Three Distribution Dates
1) Gross Yield
a) 1/15/97 21.14%
b) 12/16/96 17.36%
c) 11/15/96 30.29%
2) Net Loss Rate
a) 1/15/97 6.98%
b) 12/16/96 6.94%
c) 11/15/96 7.80%
3) Net Spread (Portfolio Yield Minus Base Rate)
a) 1/15/97 6.29%
b) 12/16/96 2.59%
c) 11/15/96 14.64%
Three Month Average 7.84%
4) Monthly Payment Rate
a) 1/15/97 7.72%
b) 12/16/96 6.57%
c) 11/15/96 7.78%
FIRST DEPOSIT NATIONAL BANK
Servicer
By: /s/ David J. Petrini
_________________________________
Name: David J. Petrini
Title: Senior Vice President and Senior
Financial Officer
