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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 (Date of earliest event
Reported): March 26, 1999
THE PROVIDENT BANK
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(Exact name of registrant as specified in its charter)
Ohio 333-67593 31-0412725
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(State or Other (Commission File (I.R.S. Employer
Jurisdiction of Number) Identification No.)
Incorporation)
One East Fourth Street
Cincinnati, Ohio 45202
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (513) 579-2000
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Item 5. Other Events.
Incorporation of Certain Documents by Reference
In connection with the offering of the Provident Bank Home Equity
Loan Trust 1999-1, Home Equity Loan Asset-Backed Certificates, Series 1999-1
(the "Certificates"), Lehman Brothers Inc., and Prudential Securities
Incorporated, as underwriters of the Certificates (the "Underwriters"), have
prepared certain materials (the "Derived Materials") for distribution to its
potential investors. Although The Provident Bank (the "Company") provided the
Underwriters with certain information regarding the characteristics of the
Mortgage Loans (the "Loans") in the related portfolio, it did not participate
in the preparation of the Derived Materials.
For purposes of this Form 8-K, Derived Materials shall mean computer
generated tables and/or charts displaying, with respect to the Certificates,
any of the following: yield; average life, duration; expected maturity;
interest rate sensitivity; loss sensitivity; cash flow characteristics;
background information regarding the Loans; the proposed structure; decrement
tables; or similar information (tabular or otherwise) of a statistical,
mathematical, tabular or computational nature. The Derived Materials are
attached hereto as Exhibit 99.1.
In addition, pursuant to Rule 411 of Regulation C under the
Securities Act of 1933 and in reliance on MBIA Insurance Corporation, SEC
No-Action Letter (September 6, 1996), the Company will incorporate by
reference the financial statement of MBIA Insurance Corporation ("MBIA") into
the Company's registration statement (File No. 333-67593). The financial
statements will be referred to in the prospectus supplement relating to the
Company's Home Equity Loan Asset-Backed Certificates, Series 1999-1. In
connection with the incorporation of such documents by reference, the Company
is hereby filing the consent of PricewaterhouseCoopers LLP to the use of their
name in such prospectus supplement. The consent of PricewaterhouseCoopers LLP
is attached hereto as Exhibit 23.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Derived Materials
23. Consent of PricewaterhouseCoopers LLP
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE PROVIDENT BANK
By: /s/ Kevin Shea
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Name: Kevin M. Shea
Title: Vice President
Dated: March 25, 1999
Exhibit Index
Exhibit
Page
99.1 Derived Materials..................................................6
23. The Consent of PricewaterhouseCoopers LLP.........................11