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 26, 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

     The following information was disclosed in a News Release dated
September 26, 1996:

            Provident Bancorp, Inc. announced today that during
       the third quarter 1996 it sold $200 million of closed end
       non-conforming home equity loans.  Provident sold $50
       million of these loans in a private transaction and $150
       million in a securitized public offering.  Provident
       believes that it will recognize pre-tax income of $13
       million to $15 million from these sales.  Provident has
       also added to its loan loss reserve and recognized other
       expenses in the quarter and expects net income to be
       approximately $22 million for the quarter ending
       September 30.
       
            Allen Davis, President and Chief Executive Officer
       of Provident said, "We are excited about the growth of
       our non-conforming mortgage operation and the
       opportunities it presents to us.  Our goal is to
       originate $800 million of this product within the next
       year and sell at least $100 million of this product each
       quarter, 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 26, 1996