UNITED STATES
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): October 15, 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))
ITEM 8.01 OTHER EVENTS.
------------
On October 15, 2008, Provident Bankshares Corporation (the "Company") announced
that its wholly-owned subsidiary, Provident Bank, has signed an agreement to
acquire the customer deposits located at seven Chevy Chase Bank in-store
branches in the Greater Baltimore area. The press release announcing the
transaction is furnished as Exhibit 99.1 hereto and incorporated by reference
herein.
On October 15, 2008, the Company's Board of Directors declared a quarterly cash
dividend of $0.11 per share. The quarterly cash dividend will be paid on
November 7, 2008 to common stockholders of record at the close of business on
October 27, 2008. The Board of Directors also declared a quarterly dividend of
$25.00 per share on its convertible preferred stock which will be paid on
November 3, 2008, to preferred stockholders of record at the close of business
on October 27, 2008.
ITEM 9.01 FINANCIAL STATEMENTS AND OTHER EXHIBITS.
---------------------------------------
(a) Financial Statements of Businesses Acquired: Not applicable
(b) Pro Forma Financial Information: Not applicable
(c) Shell Company Transactions: Not applicable
(d) Exhibits
Number Description
------ -----------
Exhibit 99.1 Press Release dated October 15, 2008
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
Date: October 15, 2008 /s/ Robert L. Davis
----------------------------------------
Robert L. Davis
General Counsel and Corporate Secretary