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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported): May 20, 2008
PROVIDENT BANKSHARES CORPORATION
(Exact name of registrant as specified in charter)
MARYLAND 0-16421 52-1518642
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
114 EAST LEXINGTON STREET, BALTIMORE, MARYLAND 21202
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (410) 277-7000
NOT APPLICABLE
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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ITEM 8.01 OTHER EVENTS.
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At the May 20, 2008 SunTrust Robinson Humphrey financial institutions
conference in New York, New York, Provident Bankshares Corporation's (the
"Company") Chief Financial Officer, Dennis Starliper, confirmed that the Company
will continue its efforts to increase its tangible capital level to a level more
consistent with the Company's peer group. To this end, the Company recently
completed an equity offering of approximately $65 million, and the Company's
wholly-owned subsidiary, Provident Bank, issued approximately $50.0 million in
subordinated debt. Mr. Starliper confirmed that the Company has no present
intention of raising additional capital through the issuance of additional
securities, but will seek to increase tangible capital through other means
including effective balance sheet management.
This document contains "forward-looking statements" as that term is
defined in the Private Securities Litigation Reform Act of 1995. These
statements involve risks and uncertainties, which may cause results to differ
materially from those set forth in the statements. The forward-looking
statements may include statements regarding business strategies, intended
results and future performance. Forward-looking statements are preceded by such
terms as "expects," "believes," "anticipates," "intends," and similar
expressions. No forward-looking statement can be guaranteed, and actual results
may differ materially from those projected. The Company undertakes no obligation
to publicly update any forward-looking statement, whether as a result of new
information, future events, or otherwise. Forward-looking statements in this
document should be evaluated together with the uncertainties that affect the
Company's business, particularly those mentioned under the headings
"Forward-looking Statements" and "Item 1A. Risk Factors" in the Company's Form
10-K for the year ended December 31, 2007, and in its reports on Form 10-Q and
Form 8-K, which the Company incorporates by reference.
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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 hereunto duly authorized.
PROVIDENT BANKSHARES CORPORATION
/s/ Dennis A. Starliper
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Dennis A. Starliper
Executive Vice President and Chief
Financial Officer
Date: May 21, 2008