FOR IMMEDIATE RELEASE


PROVIDENT BANCORP, INC. REPORTS SPECIAL SAIF ASSESSMENT 


CINCINNATI, OHIO, October 3, 1996

     Provident Bancorp, Inc. ( NASDAQ:PRBK ) ("Provident"),
announced today the one-time special assessment payable on
Savings Association Insurance Fund ("SAIF") deposits as of March
31, 1995, which special assessment was included in the Department
of Defense Appropriations Act signed into law on September 30,
1996, will be approximately $5 million for Provident on an after
tax basis.  This special assessment will be recognized as a third
quarter 1996 expense.

     On September 26, 1996 Provident announced it expected net
income for the third quarter of 1996 to be approximately $22
million.  Taking into account the special SAIF assessment,
Provident now expects net income to be approximately $17 million
for the third quarter period.

     Provident Bancorp, Inc. is a $6.4 billion Cincinnati, Ohio
based bank holding company with 71 offices in Ohio and Kentucky.

     For further information, please contact:

     John Farrenkopf
     Vice President and CFO
     (513) 579-2690
     1-800-851-9521

     Provident's press releases are available at no charge
through PR Newswire's Company News On-Call fax service.  For a
menu of available Provident press releases or to retrieve a
specific release, call 1-800-758-5804, ext. 721925.  These
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