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ANNUAL CERTIFICATEHOLDERS' STATEMENT
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FIRST DEPOSIT MASTER TRUST
SERIES 1996-1
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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 year
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 year. The information which is
required to be prepared for the Series 1996-1 Certificates with respect to the
year ended December 31, 1996, and with respect to the performance of the Trust
during 1996 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 1996 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 $29.159754
(2) The amount set forth in A(1) above distributed to Senior
Certificateholders with respect to interest per $1,000 original
certificate principal amount $29.159754
(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 1996 $505,637,771.17
(b) The aggregate amount of Interchange collected and allocated
to the Trust during 1996 $9,987,869.00
(c) The aggregate amount of Principal Receivables collected
during 1996 $1,900,403,911.09
(d) The weighted average Floating Allocation Percentage
with respect to the Series 1996-1 Certificates for
1996 20.584088%
(e) The weighted average Principal Allocation Percentage
with respect to the Series 1996-1 Certificates for
1996 20.577341%
(f) The Finance Charge Receivables and Interchange collected and
allocated to the Series 1996-1 Certificates for
1996 $106,136,835.91
(g) The Principal Receivables collected and allocated to the
Series 1996-1 Certificates for 1996 $391,052,601.92
(2) Available Finance Charge Collections and Reallocated Principal
Collections for Series 1996-1 for 1996
(a) The Finance Charge Receivables and Interchange collected
and allocated to the Series 1996-1
Certificates $106,136,835.91
(b) Collection Account and Special Funding Account investment
earnings allocated to the Series 1996-1
Certificates $195,341.28
(c) Principal Funding Account Investment Proceeds $0.00
(d) Prefunding Account Investment Proceeds $557,271.43
(e) Reserve Account withdrawals, if applicable $0.00
(f) Additional Finance Charges from other Series allocated to
the Series 1996-1 Certificates $18,366,413.47
(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) $125,255,862.09
(3) Available Principal Collections for Series 1996-1 for 1996
(a) The Principal Receivables collected and allocated to the
Series 1996-1 Certificates $391,052,601.92
(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 $37,315,104.85
(d) Reallocated Principal Collections $0.00
(e) Available Principal Collections for Series 1996-1 (total of
(a), (b) and (c) minus (d) above) $428,367,706.77
(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 1996.
(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 1996 $203,793,491.81
(b) The aggregate amount of Recoveries of Defaulted Receivables
processed during 1996 $22,475,053.12
(c) The Defaulted Amount for 1996 [Defaulted Receivables minus
Recoveries] $181,318,438.69
(d) The Defaulted Amount for 1996 allocable to the Series 1996-1
Certificates (the "Series 1996-1 Defaulted Amount") $37,315,104.85
(e) The Senior Defaulted Amount for 1996 $29,478,932.83
(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 1996 $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 last Distribution Date of 1996, 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 last Distribution Date of 1996 in respect of
Reallocated Principal Collections $0.00
(c) The amount by which the Collateral Invested Amount has been
reduced on the last Distribution Date of 1996 in respect of
the unpaid Required Amount $0.00
(d) The total amount by which the Collateral Invested Amount has
been reduced on the last Distribution Date of 1996 as set
forth in items 7(a), (b) and (c) $0.00
(e) The total amount reimbursed on the last Distribution Date of
1996 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 last Distribution Date
of 1996, after giving effect to all deposits, withdrawals
and distributions on the last Distribution Date of
1996 $0.00
(8) Investor Monthly Servicing Fee
The amount of the Series 1996-1 Monthly Servicing Fee payable
to the Servicer during 1996 $9,070,833.33
(9) Prefunding Account
(a) The Prefunding Account Balance on the last Distribution
Date of 1996 $0.00
(b) The Senior Percentage of the Prefunding Account Balance
on the last Distribution Date of 1996 $0.00
(c) The Collateral Percentage of the Prefunding Account Balance
on the last Distribution Date of 1996 $0.00
(10) Senior Monthly Interest
(a) Senior Monthly Interest payable during 1996 $25,496,471.11
(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 last Distribution Date
of 1996, after giving effect to all deposits, withdrawals and
distributions on such Distribution Date $750,500,000.00
(3) The Pool Factor for the last Distribution Date of 1996 (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 last Distribution
Date of 1996, 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 1996 $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 1996 $89,386,778
F) Annualized Percentages
(1) The average Gross Yield for 1996 (sum of the monthly Gross
Yield divided by 7) 22.60%
(2) The average Net Loss Rates for 1996 (sum of monthly Net Loss
Rates divided by 7) 6.73%
(3) The average Portfolio Yield for 1996 (the average Gross Yield
minus the average Net Loss Rate for 1996) 15.87%
(4) The average Base Rate for 1996 (sum of monthly Base Rates
divided by 7) 7.80%
(5) The average Net Spread for 1996 (the average Portfolio Yield
minus the average Base Rate for 1996) 8.07%
(6) The average Monthly Payment Rate for 1996 (sum of the monthly
Payment Rates divided by 7) 7.56%
G) Series 1995-1 Information for the Last Three Distribution Dates in 1996
1) Gross Yield
a) 12/16/96 17.36%
b) 11/15/96 30.29%
c) 10/15/96 19.46%
2) Net Loss Rate
a) 12/16/96 6.94%
b) 11/15/96 7.80%
c) 10/15/96 7.21%
3) Net Spread (Portfolio Yield Minus Base Rate)
a) 12/16/96 2.59%
b) 11/15/96 14.64%
c) 10/15/96 4.67%
Three Month Average 7.30%
4) Monthly Payment Rate
a) 12/16/96 6.57%
b) 11/15/96 7.78%
c) 10/15/96 7.38%
FIRST DEPOSIT NATIONAL BANK,
Servicer
By: /s/ David J. Petrini
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Name: David J. Petrini
Title: Senior Vice President and Chief Financial
Officer