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:  September 19, 1996
                                     
                                     
                                     
                                     
                          Provident Bancorp, Inc.
                                     
                                     
                                     
                                     
                    Incorporated under the laws of Ohio
                                     
                                     
                                     
Commission File No. 1-8019       IRS Employer Identification No. 31-0982792



One East Fourth Street, Cincinnati, Ohio                            45202
(Address of Principal Executive Offices)                         (Zip Code)



                              (513) 579-2000
           (Registrant's Telephone Number, Including Area Code)

Item 5.  Other Events

     On September 19, 1996, Lehman ABS Corporation filed a Prospectus
Supplement to its Prospectus dated September 12, 1996, that forms a part of
Registration Statement No. 333-3911, with the Securities and Exchange
Commission relating to a $153.7 million offering of home equity loan
asset-backed securities.  The securities will evidence the entire beneficial
interest in a pool of closed-end fixed and adjustable rate mortgage loans
originated by the Consumer Financial Services Division of The Provident
Bank, the Registrant's principal banking subsidiary.

     The transaction is Provident Bank's first sale of home equity loans to
Lehman ABS Corporation.  Provident Bank intends to sell additional home
equity loans in amounts of approximately $100 million per calendar quarter.
Provident Bank's Consumer Financial Services Division has established
origination goals for 1997 of $800 million of home equity loans, market
conditions permitting.

     This Report contains forward-looking information.  These
forward-looking statements may be significantly impacted by various
factors, including market conditions as described herein.  There can be
no assurance that anticipated developments will occur.


                                SIGNATURES
                                     
     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, thereunto duly authorized.


                                        Provident Bancorp, Inc.




                                        /s/  Allen L. Davis
                                        By:  Allen L. Davis
                                        Chief Executive Officer


Signed:  September 19, 1996