November 10, 1998
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Provident Bank Home Equity Loan Trust 1997-2 Home Equity Loan
Asset-Backed Certificates, Series 1997-2
File No. 333-18897.
Ladies and Gentlemen:
Enclosed herewith for filing on behalf of the trust fund (the
"Trust") created pursuant to a Pooling and Servicing Agreement
dated as of June 1, 1997 (the "Pooling and Servicing Agreement")
between The Provident Bank, as Seller (the "Seller"), as Document
Custodian (the "Document Custodian") and as Master Servicer (the
"Master Servicer"), and Bankers Trust Company of California, N.A.,
as Trustee (the "Trustee"), is a Current Report on Form 8-K (the
"Report").
The Home Equity Loan Asset-Backed Certificates, Series 1997-2 (the
"Certificates"), will consist of five Classes (each, a "Class") of
senior Certificates: The Class A-1 Certificates and the Class A-2
Certificates, the Class A-3 Certificates, the Class A-4 Certificates
and the class A-5 Certificates (collectively, the "Class A
Certificates") and one Class of subordinated Certificates (the "Class
R Certificates"). Only the Class A Certificates (The "Offered
Certificates") are being offered hereby.
The Certificates will evidence in the aggregate the entire
beneficial interest in a pool (the "Mortgage Pool") of closed-end
fixed and adjustable rate mortgage loans (the "Mortgage Loans")
consisting of two groups ("Loan Group 1" and Loan Group 2",
respectively, and each a "Loan Group") held by Provident Bank Home
Equity Loan Trust 1997-2 (the "Trust") to be formed pursuant to the
Pooling and Servicing Agreement. The Class A-1 Certificates the
Class A-2 Certificates, the Class A-3 Certificates and the Class A-4
Certificates (the "Group 1 Certificates") will represent undivided
ownership interests in Loan Group 1 which consists of Mortgage Loans
with fixed interest rates. The Class A-5 Certificates (the "Group 2
Certificates") will represent undivided ownership interests in Loan
Group 2 which consists of Mortgage Loans with adjustable interest
rates. The assets of the Trust will also include certain other
property. The Mortgage Loans are secured by first and second deeds
of trust or mortgages primarily on one- to four-family residential
properties.
The Offered Certificates were registered under the Securities Act of
1933, as amended, by a Registration Statement on Form S-11 (File No.
333-18897). As a result, the Trust is subject to the filing
requirements of Section 15(d) of the Securities Exchange Act of 1934,
as amended (the "Exchange Act"). The Trust intends to fulfill these
filing requirements in the manner described herein:
The Trust will file, promptly after each Distribution Date (as
defined in the Pooling and Servicing Agreement), a Current Report on
Form 8-K in substantially the form enclosed herewith, including as
an exhibit thereto the applicable Distribution Date report. Each
such Current Report will also disclose under Item 5 any matter
occurring during the relevant reporting period which would be
reportable under Item 1, 2, 4 or 5 of Part II of Form 10-Q.
The Trust will file a Current Report on Form 8-K promptly after the
occurrence of any event described under Item 2, 3, 4 or 5 thereof,
responding to the requirements of the applicable Item.
Within 90 days after the end of each fiscal year, the Trust will
file an annual report of Form 10-K which responds to Items 2, 3, and
4 of Part I, Items 5 and 9 of Part II, Items 12 and 13 of Part III
and Item 14 of Part IV thereof, and include as exhibits thereto
certain information from the Distribution Date reports aggregated
for such year and a copy of the independent accountants' annual
compliance statement required under the Pooling and Servicing
Agreement.
The Trust will follow the above procedures except for any fiscal
year as to which its reporting obligations under Section 15(d) of
the Exchange Act have been suspended pursuant to such Section. In
such event, the Trust will file a Form 15 as required under Rule
15d-6.
Should you wish to discuss the above filing procedures, please call
Judy L. Gomez at (714) 253-7562.
Sincerely,
/s/ Judy L. Gomez
Assistant Vice President
Bankers Trust Company of California, N.A.
S.E.C. Reporting Agent for Provident Bank Home Equity Loan Trust
1997-2 Home Equity Loan Asset-Backed Certificates, Series 1997-2
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):
July 25, 1997
THE PROVIDENT BANK
(as depositor under the Pooling and Servicing Agreement, dated as
of June 1, 1997, which forms Provident Bank Home Equity Loan Trust
1997-2, which will issue the Provident Bank Home Equity Loan Trust
1997-2, Home Equity Loan Asset-Backed Certificates, Series 1997-2)
THE PROVIDENT BANK
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-18897 31-0412725
(Commission File Number) (I.R.S. Employer
Identification No.)
ONE EAST FOURTH STREET
CINCINNATI, OHIO 45202
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code:
(513) 579-2000
ITEM 5. Other Events
Attached hereto are copies of the Monthly Remittance
Statements to the Certificateholders which were derived from
the monthly information submitted by the Master Servicer of the
Trust to the Trustee.
ITEM 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Remittance Statement to the Certificateholders dated
as of July 25, 1997.
Monthly Remittance Statement to the Certificateholders dated
as of August 25, 1997.
Monthly Remittance Statement to the Certificateholders dated
as of September 25, 1997.
Monthly Remittance Statement to the Certificateholders dated
as of October 25, 1997.
Monthly Remittance Statement to the Certificateholders dated
as of November 25, 1997.
Monthly Remittance Statement to the Certificateholders dated
as of December 25, 1997.
Monthly Remittance Statement to the Certificateholders dated
as of January 25, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of February 25, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of March 25, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of April 25, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of May 25, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of June 25, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of July 25, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of August 25, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of September 25, 1998.
SIGNATURE
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.
Bankers Trust Company of California, N.A.,
not in its individual capacity, but solely
as a duly authorized agent of the
Registrant pursuant to the Pooling and
Servicing Agreement, dated as of June 1,
1997.
Date: November 10, 1998 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Document
Monthly Remittance Statement to the Certificateholders dated
as of July 25, 1997.
Monthly Remittance Statement to the Certificateholders dated
as of August 25, 1997.
Monthly Remittance Statement to the Certificateholders dated
as of September 25, 1997.
Monthly Remittance Statement to the Certificateholders dated
as of October 27, 1997.
Monthly Remittance Statement to the Certificateholders dated
as of November 25, 1997.
Monthly Remittance Statement to the Certificateholders dated
as of December 26, 1997.
Monthly Remittance Statement to the Certificateholders dated
as of January 26, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of February 25, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of March 25, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of April 27, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of May 26, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of June 25, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of July 27, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of August 25, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of September 25, 1998.
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1997-2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 27,881,000.00 27,881,000.00 154,507.21 354,916.48
>509,423.69 0.00 0.00 27,526,083.52
A2 19,753,000.00 19,753,000.00 110,781.41 0.00
>110,781.41 0.00 0.00 19,753,000.00
A3 10,296,000.00 10,296,000.00 60,317.40 0.00
> 60,317.40 0.00 0.00 10,296,000.00
A4 12,070,000.00 12,070,000.00 74,129.92 0.00
> 74,129.92 0.00 0.00 12,070,000.00
A5 159,000,000.00 159,000,000.00 757,933.13 1,848,865.74 2,
>606,798.87 0.00 0.00 157,151,134.26
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 229,000,000.00 229,000,000.00 1,157,669.07 2,203,782.22 3,
>361,451.29 0.00 0.00 226,796,217.78
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AG7 1,000.000000 5.541667 12.729690
> 18.271356 987.270310 6.650000% 6.650000%
A2 743844AH5 1,000.000000 5.608333 0.000000
> 5.608333 1,000.000000 6.730000% 6.730000%
A3 743844AJ1 1,000.000000 5.858333 0.000000
> 5.858333 1,000.000000 7.030000% 7.030000%
A4 743844AK8 1,000.000000 6.141667 0.000000
> 6.141667 1,000.000000 7.370000% 7.370000%
A5 743844AL6 1,000.000000 4.766875 11.628086
> 16.394961 988.371914 5.917500% 5.878440%
R PB9702101 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: David Arnold
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: June 30, 1997
> Irvine, CA 92714
DISTRIBUTION DATE: July 25, 1997
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1997 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> July 25, 1997
> DELINQUENT AND
> LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS IN IN IN
> INFORMATION
> DAYS DAYS DAYS FORECLOSURE REO BANKRUPTCY
>
> GROUP 1 PRINCIPA
>L BALANCE 527,060.00253,194.00 0.00 0.00 0.00 34,107.00
>
> PERCENTAGE OF POOL BALA
>NCE 0.7538% 0.3621% 0.0000% 0.0000% 0.0000% 0.0488%
>
> NUMBER OF LOANS
> 8 5 0 0 0 1
>
> PERCENTAGE OF LOANS
> 0.6126% 0.3828% 0.0000% 0.0000% 0.0000% 0.0766%
>
> GROUP 2 PRINCIPA
>L BALANCE 3,117,942.68,800.00 0.00 0.00 0.00 46,602.00
>
> PERCENTAGE OF POOL BALA
>NCE 1.9765% 0.0436% 0.0000% 0.0000% 0.0000% 0.0295%
>
> NUMBER OF LOANS
> 31 1 0 0 0 1
>
> PERCENTAGE OF LOANS
> 1.9030% 0.0614% 0.0000% 0.0000% 0.0000% 0.0614%
>
> Note: Quantity and Pri
>ncipal Balance of Foreclosures, Bankruptcies, & REOs are Included in the
Delinq
>
>
> GROUP 1 GROUP 2
>
> BOOK VALUE OF LOANS IN
>REO: 0.00 0.00
>
> NUMBER OF LOANS IN BANK
>RUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 0 0
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 0.00 0.00
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 11.469536% 10.379636%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 208 354
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,309 1,641
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,306 1,629
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 70,039,016.62
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 69,924,026.80
>
> POOL FACTOR OF LOAN GRO
>UPS 99.835820% 99.183510%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 3 12
>
> SCHEDULE
>D PRINCIPAL 26,570.68 21,082.34
>
> CURTAILM
>ENTS 24,612.24 4,988.32
>
> PREPAYME
>NTS IN FULL 63,806.90 1,272,573.4
>
> NET LIQU
>IDATIONS 0.00 0.00
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> RELEASED
> MORTGAGED PROPERTY PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 0.00
>
> SUBSTITU
>TION ADJUSTMENTS 0.00 0.00
>
> TOTAL PRINCIPAL RECEIVE
>D: 114,989.82 1,298,644.1
>
> SERVICER ADVANCES:
> 4,553.62 19,562.71
>
> NET FUNDS CAP CARRYOVER
> AMOUNT WITH RESPECT TO A-5 CERTIFICATES 0.00
>
>
> Page 2 of 3 (c) COPYRIGHT 1997 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> July 25, 1997
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 669,429.18 1,375,751.8
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> PREPAYMENT INTEREST SHO
>RTFALL NOT COVERED BY SERVICER 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 29,182.92 66,271.68
>
> PLUS ADDITIONAL SERVICI
>NG COMPENSATION: 0.00 0.00
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 29,182.92 66,271.68
>
> LESS: COMPENSATING IN
>TEREST 0.00 (88.09)
>
> LESS: DELINQUENT SER
>VICE FEES: (209.98) (975.63)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 28,972.94 65,207.96
>
> AMOUNTS PAID TO CERTIFI
>CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 0.00
>
> REIMBURSEMENT AMOUNT
> 0.00 0.00
>
> PREMIUM AMOUNT
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 114,989.82 1,298,644.1
>
> TOTAL INTEREST COLLECTE
>D 640,246.26 1,309,480.1
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 755,236.08 2,608,124.3
>
> O/C AMOUNT BEGINNING
> 39,016.62 52,035.92
>
> O/C AMOUNT ENDING
> 278,943.28 602,257.51
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,750,000.006,360,000.0
>
> EXCESS SPREAD
> 239,926.66 550,221.59
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 239,926.66 550,221.59
>
> NET LIQUIDATION PROCEED
>S 0.00 0.00
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 0.00 0.00
>
> DELINQUENCY LOSS FACTOR
> 111,095.66 349,970.77
>
> TOTAL EXPECTED LOSSES
> 111,095.66 349,970.77
>
>
> Page 3 of 3 (c) COPYRIGHT 1997 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> July 25, 1997
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 669,429.18 1,375,751.8
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> PREPAYMENT INTEREST SHO
>RTFALL NOT COVERED BY SERVICER 0.00 0.00
>
> COMPENSATING INTEREST
> 0.00 (88.09)
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 114,989.82 1,298,644.1
>
> TOTAL INTEREST COLLECTE
>D 640,246.26 1,309,480.1
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 755,236.08 2,608,124.3
>
> O/C AMOUNT
> 39,016.62 52,035.92
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,750,000.006,360,000.0
>
> EXCESS SPREAD
> 239,926.66 550,221.59
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 239,926.66 550,221.59
>
> NET LIQUIDATION PROCEED
>S 0.00 0.00
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 0.00 0.00
>
> DELINQUENCY LOSS FACTOR
> 111,095.66 349,970.77
>
> TOTAL EXPECTED LOSSES
> 111,095.66 349,970.77
>
>
> Page 3 of 3 (c) COPYRIGHT 1997 B
>
uency Figures.
ankers Trust Company
ankers Trust Company
ankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1997-2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 27,881,000.00 27,526,083.52 152,540.38 863,479.37 1,
>016,019.75 0.00 0.00 26,662,604.15
A2 19,753,000.00 19,753,000.00 110,781.41 0.00
>110,781.41 0.00 0.00 19,753,000.00
A3 10,296,000.00 10,296,000.00 60,317.40 0.00
> 60,317.40 0.00 0.00 10,296,000.00
A4 12,070,000.00 12,070,000.00 74,129.92 0.00
> 74,129.92 0.00 0.00 12,070,000.00
A5 159,000,000.00 157,151,134.26 795,497.47 1,642,605.63 2,
>438,103.10 0.00 0.00 155,508,528.63
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 229,000,000.00 226,796,217.78 1,193,266.58 2,506,085.00 3,
>699,351.58 0.00 0.00 224,290,132.78
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AG7 987.270310 5.471123 30.970172
> 36.441295 956.300138 6.650000% 6.650000%
A2 743844AH5 1,000.000000 5.608333 0.000000
> 5.608333 1,000.000000 6.730000% 6.730000%
A3 743844AJ1 1,000.000000 5.858333 0.000000
> 5.858333 1,000.000000 7.030000% 7.030000%
A4 743844AK8 1,000.000000 6.141667 0.000000
> 6.141667 1,000.000000 7.370000% 7.370000%
A5 743844AL6 988.371914 5.003129 10.330853
> 15.333982 978.041061 5.878440% 5.855000%
R 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: David Arnold
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: July 31, 1997
> Irvine, CA 92714
DISTRIBUTION DATE: August 25, 1997
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1997 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> August 25, 1997
> DELINQUENT AND
> LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS IN IN IN
> INFORMATION
> DAYS DAYS DAYS FORECLOSURE REO BANKRUPTCY
>
> GROUP 1 PRINCIPA
>L BALANCE 1,018,463.422,114.00 207,007.00 0.00 0.00 63,087.00
>
> PERCENTAGE OF POOL BALA
>NCE 1.4698% 0.6092% 0.2987% 0.0000% 0.0000% 0.0910%
>
> NUMBER OF LOANS
> 20 7 5 0 0 2
>
> PERCENTAGE OF LOANS
> 1.5456% 0.5410% 0.3864% 0.0000% 0.0000% 0.1546%
>
> GROUP 2 PRINCIPA
>L BALANCE 3,896,446.1,184,938. 68,800.00 0.00 0.00 305,377.00
>
> PERCENTAGE OF POOL BALA
>NCE 2.4883% 0.7567% 0.0439% 0.0000% 0.0000% 0.1950%
>
> NUMBER OF LOANS
> 44 12 1 0 0 4
>
> PERCENTAGE OF LOANS
> 2.7177% 0.7412% 0.0618% 0.0000% 0.0000 0.2471%
>
> Note: Quantity and Pri
>ncipal Balance of Foreclosures, Bankruptcies, & REOs are Included in the
Delinq
>
>
> GROUP 1 GROUP 2
>
> BOOK VALUE OF LOANS IN
>REO: 0.00 0.00
>
> NUMBER OF LOANS IN BANK
>RUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 1 1
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 28,980.00 72,814.00
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 11.468549% 10.383038%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 209 357
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,306 1,629
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,294 1,619
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 69,924,026.80
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 69,291,466.80
>
> POOL FACTOR OF LOAN GRO
>UPS 98.932667% 98.452652%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 12 10
>
> SCHEDULE
>D PRINCIPAL 73,309.61 59,914.80
>
> CURTAILM
>ENTS 9,180.66 8,297.46
>
> PREPAYME
>NTS IN FULL 531,069.73 1,094,232.8
>
> NET LIQU
>IDATIONS 0.00 0.00
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> RELEASED
> MORTGAGED PROPERTY PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 19,000.00 0.00
>
> SUBSTITU
>TION ADJUSTMENTS 0.00 0.00
>
> TOTAL PRINCIPAL RECEIVE
>D: 632,560.00 1,162,445.1
>
> SERVICER ADVANCES:
> 54,683.53 135,963.08
>
> NET FUNDS CAP CARRYOVER
> AMOUNT WITH RESPECT TO A-5 CERTIFICATES 0.00
>
>
> Page 2 of 3 (c) COPYRIGHT 1997 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> August 25, 1997
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 668,098.57 1,364,966.2
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> PREPAYMENT INTEREST SHO
>RTFALL NOT COVERED BY SERVICER 0.00 0.00
>
> REPURCHASE INTEREST
> 174.01 0.00
>
> NONRECOVERABLE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 29,135.01 65,730.58
>
> PLUS ADDITIONAL SERVICI
>NG COMPENSATION: 0.00 0.00
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 29,135.01 65,730.58
>
> LESS: COMPENSATING IN
>TEREST (1,048.96) (4,332.57)
>
> LESS: DELINQUENT SER
>VICE FEES: (2,426.62) (6,724.88)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 25,659.43 54,673.13
>
> AMOUNTS PAID TO CERTIFI
>CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 0.00
>
> REIMBURSEMENT AMOUNT
> 0.00 0.00
>
> PREMIUM AMOUNT
> 9,866.39 22,263.08
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.14086991 0.13997356
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 632,560.00 1,162,445.1
>
> TOTAL INTEREST COLLECTE
>D 639,137.57 1,299,235.6
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,271,697.572,461,680.7
>
> O/C AMOUNT BEGINNING
> 278,943.28 602,257.51
>
> O/C AMOUNT ENDING
> 509,862.65 1,082,418.0
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,750,000.006,360,000.0
>
> EXCESS SPREAD
> 230,919.37 480,160.49
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 230,919.37 480,160.49
>
> NET LIQUIDATION PROCEED
>S 0.00 0.00
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 0.00 0.00
>
> DELINQUENCY LOSS FACTOR
> 289,252.29 703,213.62
>
> TOTAL EXPECTED LOSSES
> 289,252.29 703,213.62
>
>
> Page 3 of 3 (c) COPYRIGHT 1997 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> August 25, 1997
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 668,098.57 1,364,966.2
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> PREPAYMENT INTEREST SHO
>RTFALL NOT COVERED BY SERVICER 0.00 0.00
>
> COMPENSATING INTEREST
> (1,048.96) (4,332.57)
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 632,560.00 1,162,445.1
>
> TOTAL INTEREST COLLECTE
>D 639,137.57 1,299,235.6
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,271,697.572,461,680.7
>
> O/C AMOUNT
> 278,943.28 602,257.51
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,750,000.006,360,000.0
>
> EXCESS SPREAD
> 230,919.37 480,160.49
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 230,919.37 480,160.49
>
> NET LIQUIDATION PROCEED
>S 0.00 0.00
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 0.00 0.00
>
> DELINQUENCY LOSS FACTOR
> 289,252.29 703,213.62
>
> TOTAL EXPECTED LOSSES
> 289,252.29 703,213.62
>
>
> Page 3 of 3 (c) COPYRIGHT 1997 B
>
uency Figures.
ankers Trust Company
ankers Trust Company
ankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1997-2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 27,881,000.00 26,662,604.15 147,755.26 910,698.56 1,
>058,453.82 0.00 0.00 25,751,905.59
A2 19,753,000.00 19,753,000.00 110,781.41 0.00
>110,781.41 0.00 0.00 19,753,000.00
A3 10,296,000.00 10,296,000.00 60,317.40 0.00
> 60,317.40 0.00 0.00 10,296,000.00
A4 12,070,000.00 12,070,000.00 74,129.92 0.00
> 74,129.92 0.00 0.00 12,070,000.00
A5 159,000,000.00 155,508,528.63 784,043.76 3,022,745.39 3,
>806,789.15 0.00 0.00 152,485,783.24
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 229,000,000.00 224,290,132.78 1,177,027.75 3,933,443.95 5,
>110,471.70 0.00 0.00 220,356,688.83
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AG7 956.300138 5.299496 32.663769
> 37.963266 923.636368 6.650000% 6.650000%
A2 743844AH5 1,000.000000 5.608333 0.000000
> 5.608333 1,000.000000 6.730000% 6.730000%
A3 743844AJ1 1,000.000000 5.858333 0.000000
> 5.858333 1,000.000000 7.030000% 7.030000%
A4 743844AK8 1,000.000000 6.141667 0.000000
> 6.141667 1,000.000000 7.370000% 7.370000%
A5 743844AL6 978.041061 4.931093 19.010977
> 23.942070 959.030083 5.855000% 5.886250%
R 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: David Arnold
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: August 29, 1997
> Irvine, CA 92714
DISTRIBUTION DATE: September 25, 1997
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1997 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> September 25, 1997
> DELINQUENT AND
> LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS IN IN IN
> INFORMATION
> DAYS DAYS DAYS FORECLOSURE REO BANKRUPTCY
>
> GROUP 1 PRINCIPA
>L BALANCE 1,534,271.404,395.22 400,947.76 90,486.66 0.00 28,979.77
>
> PERCENTAGE OF POOL BALA
>NCE 2.2362% 0.5894% 0.5844% 0.1319% 0.0000% 0.0422%
>
> NUMBER OF LOANS
> 30 10 6 2 0 1
>
> PERCENTAGE OF LOANS
> 2.3346% 0.7782% 0.4669% 0.1556% 0.0000% 0.0778%
>
> GROUP 2 PRINCIPA
>L BALANCE 6,291,582.2,427,214.1,044,461.69 170,400.00 0.00 689,481.11
>
> PERCENTAGE OF POOL BALA
>NCE 4.0841% 1.5756% 0.6780% 0.1106% 0.0000% 0.4476%
>
> NUMBER OF LOANS
> 69 25 11 2 0 8
>
> PERCENTAGE OF LOANS
> 4.3152% 1.5635% 0.6879% 0.1251% 0.0000% 0.5003%
>
> Note: Quantity and Pri
>ncipal Balance of Foreclosures, Bankruptcies, & REOs are Included in the
Delinq
>
>
> GROUP 1 GROUP 2
>
> BOOK VALUE OF LOANS IN
>REO: 0.00 0.00
>
> NUMBER OF LOANS IN BANK
>RUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 0 3
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 0.00 248,904.38
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 11.462544% 10.397402%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 209 356
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,294 1,619
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,285 1,599
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 69,291,466.80
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 68,610,471.74
>
> POOL FACTOR OF LOAN GRO
>UPS 97.960358% 96.856578%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 9 20
>
> SCHEDULE
>D PRINCIPAL 74,340.40 59,346.71
>
> CURTAILM
>ENTS 7,755.45 13,196.55
>
> PREPAYME
>NTS IN FULL 598,899.21 2,466,044.9
>
> NET LIQU
>IDATIONS 0.00 0.00
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> RELEASED
> MORTGAGED PROPERTY PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 0.00
>
> SUBSTITU
>TION ADJUSTMENTS 0.00 0.00
>
> TOTAL PRINCIPAL RECEIVE
>D: 680,995.06 2,538,588.1
>
> SERVICER ADVANCES:
> 68,315.09 199,801.70
>
> NET FUNDS CAP CARRYOVER
> AMOUNT WITH RESPECT TO A-5 CERTIFICATES 0.00
>
>
> Page 2 of 3 (c) COPYRIGHT 1997 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> September 25, 1997
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 661,880.42 1,356,782.4
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> PREPAYMENT INTEREST SHO
>RTFALL NOT COVERED BY SERVICER 0.00 0.00
>
> REPURCHASE INTEREST
> 0.00 0.00
>
> NONRECOVERABLE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 28,871.44 65,246.23
>
> PLUS ADDITIONAL SERVICI
>NG COMPENSATION: 0.00 0.00
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 28,871.44 65,246.23
>
> LESS: COMPENSATING IN
>TEREST (775.60) (4,506.17)
>
> LESS: DELINQUENT SER
>VICE FEES: (2,998.48) (9,800.52)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 25,097.36 50,939.54
>
> AMOUNTS PAID TO CERTIFI
>CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 0.00
>
> REIMBURSEMENT AMOUNT
> 0.00 0.00
>
> PREMIUM AMOUNT
> 9,744.06 22,030.37
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.13912331 0.13851046
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 680,995.06 2,538,588.1
>
> TOTAL INTEREST COLLECTE
>D 633,008.98 1,291,536.2
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,314,004.043,830,124.4
>
> O/C AMOUNT BEGINNING
> 509,862.65 1,082,418.0
>
> O/C AMOUNT ENDING
> 739,566.15 1,566,575.2
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,750,000.006,360,000.0
>
> EXCESS SPREAD
> 229,703.50 484,157.20
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 229,703.50 484,157.20
>
> NET LIQUIDATION PROCEED
>S 0.00 0.00
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 0.00 0.00
>
> DELINQUENCY LOSS FACTOR
> 424,286.67 1,647,314.7
>
> TOTAL EXPECTED LOSSES
> 424,286.67 1,647,314.7
>
>
> Page 3 of 3 (c) COPYRIGHT 1997 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> September 25, 1997
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 661,880.42 1,356,782.4
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> PREPAYMENT INTEREST SHO
>RTFALL NOT COVERED BY SERVICER 0.00 0.00
>
> COMPENSATING INTEREST
> (775.60) (4,506.17)
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 680,995.06 2,538,588.1
>
> TOTAL INTEREST COLLECTE
>D 633,008.98 1,291,536.2
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,314,004.043,830,124.4
>
> O/C AMOUNT
> 509,862.65 1,082,418.0
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,750,000.006,360,000.0
>
> EXCESS SPREAD
> 229,703.50 484,157.20
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 229,703.50 484,157.20
>
> NET LIQUIDATION PROCEED
>S 0.00 0.00
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 0.00 0.00
>
> DELINQUENCY LOSS FACTOR
> 424,286.67 1,647,314.7
>
> TOTAL EXPECTED LOSSES
> 424,286.67 1,647,314.7
>
>
> Page 3 of 3 (c) COPYRIGHT 1997 B
>
uency Figures.
ankers Trust Company
ankers Trust Company
ankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1997-2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 27,881,000.00 25,751,905.59 142,708.48 822,313.72
>965,022.20 0.00 0.00 24,929,591.87
A2 19,753,000.00 19,753,000.00 110,781.41 0.00
>110,781.41 0.00 0.00 19,753,000.00
A3 10,296,000.00 10,296,000.00 60,317.40 0.00
> 60,317.40 0.00 0.00 10,296,000.00
A4 12,070,000.00 12,070,000.00 74,129.92 0.00
> 74,129.92 0.00 0.00 12,070,000.00
A5 159,000,000.00 152,485,783.24 797,839.50 2,597,841.20 3,
>395,680.70 0.00 0.00 149,887,942.04
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 229,000,000.00 220,356,688.83 1,185,776.71 3,420,154.92 4,
>605,931.63 0.00 0.00 216,936,533.91
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AG7 923.636368 5.118485 29.493695
> 34.612180 894.142673 6.650000% 6.650000%
A2 743844AH5 1,000.000000 5.608333 0.000000
> 5.608333 1,000.000000 6.730000% 6.730000%
A3 743844AJ1 1,000.000000 5.858333 0.000000
> 5.858333 1,000.000000 7.030000% 7.030000%
A4 743844AK8 1,000.000000 6.141667 0.000000
> 6.141667 1,000.000000 7.370000% 7.370000%
A5 743844AL6 959.030083 5.017858 16.338624
> 21.356482 942.691459 5.886250% 5.886250%
R 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: David Arnold
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: September 30, 1997
> Irvine, CA 92714
DISTRIBUTION DATE: October 27, 1997
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1997 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> October 27, 1997
> DELINQUENT AND
> LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS IN IN IN
> INFORMATION
> DAYS DAYS DAYS FORECLOSURE REO BANKRUPTCY
>
> GROUP 1 PRINCIPA
>L BALANCE 2,108,521.314,961.00 465,998.00 431,891.00 0.00 19,964.00
>
> PERCENTAGE OF POOL BALA
>NCE 3.1000% 0.4631% 0.6851% 0.6350% 0.0000% 0.0294%
>
> NUMBER OF LOANS
> 42 7 8 7 0 1
>
> PERCENTAGE OF LOANS
> 3.3019% 0.5503% 0.6289% 0.5503% 0.0000% 0.0786%
>
> GROUP 2 PRINCIPA
>L BALANCE 6,706,754.2,119,879.2,520,395.001,452,007.00 0.00 1,124,904.0
>
> PERCENTAGE OF POOL BALA
>NCE 4.4149% 1.3955% 1.6591% 0.9558% 0.0000% 0.7405%
>
> NUMBER OF LOANS
> 67 22 26 13 0 13
>
> PERCENTAGE OF LOANS
> 4.2432% 1.3933% 1.6466% 0.8233% 0.0000% 0.8233%
>
> Note: Quantity and Pri
>ncipal Balance of Foreclosures, Bankruptcies, & REOs are Included in the
Delinq
>
>
> GROUP 1 GROUP 2
>
> BOOK VALUE OF LOANS IN
>REO: 0.00 0.00
>
> NUMBER OF LOANS IN BANK
>RUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 1 4
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 19,964.00 279,966.00
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 11.455110% 10.452769%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 208 355
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,285 1,599
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,272 1,579
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 68,610,471.74
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 68,016,396.75
>
> POOL FACTOR OF LOAN GRO
>UPS 97.112153% 95.510565%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 13 20
>
> SCHEDULE
>D PRINCIPAL 72,710.11 59,951.67
>
> CURTAILM
>ENTS 7,929.37 4,228.43
>
> PREPAYME
>NTS IN FULL 392,029.51 2,076,680.2
>
> NET LIQU
>IDATIONS 0.00 0.00
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 121,406.00 0.00
>
> TOTAL PRINCIPAL RECEIVE
>D: 594,074.99 2,140,860.3
>
> SERVICER ADVANCES:
> 85,976.18 216,483.97
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-5 CERTIFICATES 0.00
>
>
> Page 2 of 3 (c) COPYRIGHT 1997 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> October 27, 1997
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 653,990.30 1,341,894.7
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> REPURCHASE INTEREST
> 960.12 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 28,587.70 64,188.48
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 28,587.70 64,188.48
>
> LESS: COMPENSATING IN
>TEREST (1,141.49) (3,714.69)
>
> LESS: DELINQUENT SER
>VICE FEES: (3,795.06)(10,601.41)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 23,651.15 49,872.38
>
> AMOUNTS PAID TO CERTIFI
>CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 0.00
>
> REIMBURSEMENT AMOUNT
> 0.00 0.00
>
> PREMIUM AMOUNT PAID
> 9,615.04 21,602.15
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.13728120 0.13581813
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 594,074.99 2,140,860.3
>
> TOTAL INTEREST COLLECTE
>D 626,362.73 1,277,706.3
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,220,437.723,418,566.6
>
> O/C AMOUNT BEGINNING
> 739,566.15 1,566,575.2
>
> O/C AMOUNT ENDING
> 967,804.88 2,023,556.0
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,750,000.006,360,000.0
>
> EXCESS SPREAD
> 228,238.73 456,980.88
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 228,238.73 456,980.88
>
> NET LIQUIDATION PROCEED
>S 0.00 0.00
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 0.00 0.00
>
> DELINQUENCY LOSS FACTOR
> 494,761.76 2,260,519.8
>
> TOTAL EXPECTED LOSSES
> 494,761.76 2,260,519.8
>
>
> Page 3 of 3 (c) COPYRIGHT 1997 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> October 27, 1997
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 653,990.30 1,341,894.7
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> (1,141.49) (3,714.69)
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 594,074.99 2,140,860.3
>
> TOTAL INTEREST COLLECTE
>D 626,362.73 1,277,706.3
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,220,437.723,418,566.6
>
> O/C AMOUNT
> 739,566.15 1,566,575.2
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,750,000.006,360,000.0
>
> EXCESS SPREAD
> 228,238.73 456,980.88
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 228,238.73 456,980.88
>
> NET LIQUIDATION PROCEED
>S 0.00 0.00
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 0.00 0.00
>
> DELINQUENCY LOSS FACTOR
> 494,761.76 2,260,519.8
>
> TOTAL EXPECTED LOSSES
> 494,761.76 2,260,519.8
>
>
> Page 3 of 3 (c) COPYRIGHT 1997 B
>
uency Figures.
ankers Trust Company
ankers Trust Company
ankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1997-2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 27,881,000.00 24,929,591.87 138,151.49 1,891,258.43 2,
>029,409.92 0.00 0.00 23,038,333.44
A2 19,753,000.00 19,753,000.00 110,781.41 0.00
>110,781.41 0.00 0.00 19,753,000.00
A3 10,296,000.00 10,296,000.00 60,317.40 0.00
> 60,317.40 0.00 0.00 10,296,000.00
A4 12,070,000.00 12,070,000.00 74,129.92 0.00
> 74,129.92 0.00 0.00 12,070,000.00
A5 159,000,000.00 149,887,942.04 710,723.86 3,219,450.64 3,
>930,174.50 0.00 0.00 146,668,491.40
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 229,000,000.00 216,936,533.91 1,094,104.08 5,110,709.07 6,
>204,813.15 0.00 0.00 211,825,824.84
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AG7 894.142673 4.955041 67.833235
> 72.788276 826.309438 6.650000% 6.650000%
A2 743844AH5 1,000.000000 5.608333 0.000000
> 5.608333 1,000.000000 6.730000% 6.730000%
A3 743844AJ1 1,000.000000 5.858333 0.000000
> 5.858333 1,000.000000 7.030000% 7.030000%
A4 743844AK8 1,000.000000 6.141667 0.000000
> 6.141667 1,000.000000 7.370000% 7.370000%
A5 743844AL6 942.691459 4.469961 20.248117
> 24.718079 922.443342 5.886250% 5.917500%
R 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: David Arnold
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: October 31, 1997
> Irvine, CA 92714
DISTRIBUTION DATE: November 25, 1997
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1997 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> November 25, 1997
> DELINQUENT AND
> LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS IN IN IN
> INFORMATION
> DAYS DAYS DAYS FORECLOSURE REO BANKRUPTCY
>
> GROUP 1 PRINCIPA
>L BALANCE 2,518,466.488,283.00 640,907.00 380,961.00 0.00 145,888.00
>
> PERCENTAGE OF POOL BALA
>NCE 3.7956% 0.7359% 0.9659% 0.5741% 0.0000% 0.2199%
>
> NUMBER OF LOANS
> 38 8 11 6 0 3
>
> PERCENTAGE OF LOANS
> 3.0473% 0.6415% 0.8821% 0.4812% 0.0000% 0.2406%
>
> GROUP 2 PRINCIPA
>L BALANCE 6,509,704.1,606,078.3,975,990.001,919,744.00 0.00 1,113,359.0
>
> PERCENTAGE OF POOL BALA
>NCE 4.3623% 1.0763% 2.6644% 1.2865% 0.0000% 0.7461%
>
> NUMBER OF LOANS
> 69 21 39 19 0 14
>
> PERCENTAGE OF LOANS
> 4.4316% 1.3487% 2.5048% 1.2203% 0.0000% 0.8992%
>
> Note: Quantity and Pri
>ncipal Balance of Foreclosures, Bankruptcies, & REOs are Included in the
Delinq
>
>
> GROUP 1 GROUP 2
>
> BOOK VALUE OF LOANS IN
>REO: 0.00 0.00
>
> NUMBER OF LOANS IN BANK
>RUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 2 4
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 94,958.00 286,120.00
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 11.457866% 10.511473%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 207 354
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,272 1,579
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,247 1,557
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 68,016,396.75
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 66,352,788.23
>
> POOL FACTOR OF LOAN GRO
>UPS 94.736893% 93.822254%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 25 22
>
> SCHEDULE
>D PRINCIPAL RECEIVED 76,117.08 61,626.64
>
> CURTAILM
>ENTS 6,376.45 8,462.70
>
> PREPAYME
>NTS IN FULL 1,581,114.992,615,203.6
>
> NET LIQU
>IDATIONS 0.00 0.00
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 0.00
>
> TOTAL PRINCIPAL RECEIVE
>D: 1,663,608.522,685,292.9
>
> SERVICER ADVANCES:
> 35,533.26 105,601.65
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-5 CERTIFICATES 0.00
>
>
> Page 2 of 3 (c) COPYRIGHT 1997 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> November 25, 1997
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 649,435.64 1,330,678.0
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> REPURCHASE INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 28,340.17 63,296.46
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 28,340.17 63,296.46
>
> LESS: COMPENSATING IN
>TEREST (627.41) (560.04)
>
> LESS: DELINQUENT SER
>VICE FEES: (1,519.95) (5,072.58)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 26,192.81 57,663.84
>
> AMOUNTS PAID TO CERTIFI
>CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 0.00
>
> REIMBURSEMENT AMOUNT
> 0.00 0.00
>
> PREMIUM AMOUNT PAID
> 9,498.55 21,234.13
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.13561798 0.13350430
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 1,663,608.522,685,292.9
>
> TOTAL INTEREST COLLECTE
>D 621,095.48 1,267,381.5
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,284,704.003,952,674.5
>
> O/C AMOUNT BEGINNING
> 967,804.88 2,023,556.0
>
> O/C AMOUNT ENDING
> 1,195,454.792,557,713.7
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,750,000.006,360,000.0
>
> EXCESS SPREAD
> 227,649.91 534,157.66
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 227,649.91 534,157.66
>
> NET LIQUIDATION PROCEED
>S 0.00 0.00
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 0.00 0.00
>
> DELINQUENCY LOSS FACTOR
> 651,305.95 2,754,775.6
>
> TOTAL EXPECTED LOSSES
> 651,305.95 2,754,775.6
>
>
> Page 3 of 3 (c) COPYRIGHT 1997 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> November 25, 1997
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 649,435.64 1,330,678.0
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> (627.41) (560.04)
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 1,663,608.522,685,292.9
>
> TOTAL INTEREST COLLECTE
>D 621,095.48 1,267,381.5
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,284,704.003,952,674.5
>
> O/C AMOUNT
> 967,804.88 2,023,556.0
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,750,000.006,360,000.0
>
> EXCESS SPREAD
> 227,649.91 534,157.66
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 227,649.91 534,157.66
>
> NET LIQUIDATION PROCEED
>S 0.00 0.00
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 0.00 0.00
>
> DELINQUENCY LOSS FACTOR
> 651,305.95 2,754,775.6
>
> TOTAL EXPECTED LOSSES
> 651,305.95 2,754,775.6
>
>
> Page 3 of 3 (c) COPYRIGHT 1997 B
>
uency Figures.
ankers Trust Company
ankers Trust Company
ankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1997-2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 27,881,000.00 23,038,333.44 127,670.76 813,660.62
>941,331.38 0.00 0.00 22,224,672.82
A2 19,753,000.00 19,753,000.00 110,781.41 0.00
>110,781.41 0.00 0.00 19,753,000.00
A3 10,296,000.00 10,296,000.00 60,317.40 0.00
> 60,317.40 0.00 0.00 10,296,000.00
A4 12,070,000.00 12,070,000.00 74,129.92 0.00
> 74,129.92 0.00 0.00 12,070,000.00
A5 159,000,000.00 146,668,491.40 747,367.63 3,471,647.77 4,
>219,015.40 0.00 0.00 143,196,843.63
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 229,000,000.00 211,825,824.84 1,120,267.12 4,285,308.39 5,
>405,575.51 0.00 0.00 207,540,516.45
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AG7 826.309438 4.579131 29.183337
> 33.762468 797.126101 6.650000% 6.650000%
A2 743844AH5 1,000.000000 5.608333 0.000000
> 5.608333 1,000.000000 6.730000% 6.730000%
A3 743844AJ1 1,000.000000 5.858333 0.000000
> 5.858333 1,000.000000 7.030000% 7.030000%
A4 743844AK8 1,000.000000 6.141667 0.000000
> 6.141667 1,000.000000 7.370000% 7.370000%
A5 743844AL6 922.443342 4.700425 21.834263
> 26.534688 900.609079 5.917500% 6.198750%
R 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: David Arnold
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: November 28, 1997
> Irvine, CA 92714
DISTRIBUTION DATE: December 26, 1997
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1997 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> December 26, 1997
> DELINQUENT AND
> LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS IN IN IN
> INFORMATION
> DAYS DAYS DAYS FORECLOSURE REO BANKRUPTCY
>
> GROUP 1 PRINCIPA
>L BALANCE 3,115,590.984,664.00 939,955.00 611,927.00 0.00 151,682.00
>
> PERCENTAGE OF POOL BALA
>NCE 4.7376% 1.4973% 1.4293% 0.9305% 0.0000% 0.2307%
>
> NUMBER OF LOANS
> 40 16 17 10 0 4
>
> PERCENTAGE OF LOANS
> 3.2336% 1.2935% 1.3743% 0.8084% 0.0000% 0.3234%
>
> GROUP 2 PRINCIPA
>L BALANCE 5,138,199.3,253,826.4,691,417.002,644,816.00 0.00 1,367,326.0
>
> PERCENTAGE OF POOL BALA
>NCE 3.5135% 2.2250% 3.2080% 1.8085% 0.0000% 0.9350%
>
> NUMBER OF LOANS
> 52 33 48 25 0 17
>
> PERCENTAGE OF LOANS
> 3.3965% 2.1555% 3.1352% 1.6329% 0.0000% 1.1104%
>
> Note: Quantity and Pri
>ncipal Balance of Foreclosures, Bankruptcies, & REOs are Included in the
Delinq
>
>
> GROUP 1 GROUP 2
>
> BOOK VALUE OF LOANS IN
>REO: 0.00 0.00
>
> NUMBER OF LOANS IN BANK
>RUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 2 5
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 94,830.00 425,018.00
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 11.461435% 10.595832%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 206 353
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,247 1,557
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,237 1,531
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 66,352,788.23
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 65,762,546.03
> POOL FACTOR OF LOAN GRO
>UPS 93.894160% 91.945153%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 10 26
>
> SCHEDULE
>D PRINCIPAL RECEIVED 70,624.45 56,845.62
>
> CURTAILM
>ENTS 5,081.63 4,239.87
>
> PREPAYME
>NTS IN FULL 514,536.12 2,924,482.5
>
> NET LIQU
>IDATIONS 0.00 0.00
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 0.00
>
> TOTAL PRINCIPAL RECEIVE
>D: 590,242.20 2,985,568.0
>
> SERVICER ADVANCES:
> 47,331.74 115,083.63
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-5 CERTIFICATES 0.00
>
>
> Page 2 of 3 (c) COPYRIGHT 1997 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> December 26, 1997
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 633,748.47 1,317,646.5
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> REPURCHASE INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 27,647.00 62,177.59
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 27,647.00 62,177.59
>
> LESS: COMPENSATING IN
>TEREST 0.00 0.00
>
> LESS: DELINQUENT SER
>VICE FEES: (2,099.97) (5,485.53)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 25,547.03 56,692.06
>
> AMOUNTS PAID TO CERTIFI
>CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 0.00
>
> REIMBURSEMENT AMOUNT
> 0.00 0.00
>
> PREMIUM AMOUNT PAID
> 9,230.62 20,778.04
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.13179254 0.13063674
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 590,242.20 2,985,568.0
>
> TOTAL INTEREST COLLECTE
>D 606,101.47 1,255,468.9
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,196,343.674,241,036.9
>
> O/C AMOUNT BEGINNING
> 1,195,454.792,557,713.7
>
> O/C AMOUNT ENDING
> 1,418,873.213,043,793.4
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,750,000.006,360,000.0
>
> EXCESS SPREAD
> 223,418.42 486,079.75
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 223,418.42 486,079.75
>
> NET LIQUIDATION PROCEED
>S 0.00 0.00
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 0.00 0.00
>
> DELINQUENCY LOSS FACTOR
> 950,809.34 3,269,238.2
>
> TOTAL EXPECTED LOSSES
> 950,809.34 3,269,238.2
>
>
> Page 3 of 3 (c) COPYRIGHT 1997 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> December 26, 1997
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 633,748.47 1,317,646.5
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> 0.00 0.00
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 590,242.20 2,985,568.0
>
> TOTAL INTEREST COLLECTE
>D 606,101.47 1,255,468.9
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,196,343.674,241,036.9
>
> O/C AMOUNT
> 1,195,454.792,557,713.7
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,750,000.006,360,000.0
>
> EXCESS SPREAD
> 223,418.42 486,079.75
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 223,418.42 486,079.75
>
> NET LIQUIDATION PROCEED
>S 0.00 0.00
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 0.00 0.00
>
> DELINQUENCY LOSS FACTOR
> 950,809.34 3,269,238.2
>
> TOTAL EXPECTED LOSSES
> 950,809.34 3,269,238.2
>
>
> Page 3 of 3 (c) COPYRIGHT 1997 B
>
uency Figures.
ankers Trust Company
ankers Trust Company
ankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1997-2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 27,881,000.00 18,346,315.37 101,669.16 2,814,231.07 2,
>915,900.23 0.00 0.00 15,532,084.30
A2 19,753,000.00 19,753,000.00 110,781.41 0.00
>110,781.41 0.00 0.00 19,753,000.00
A3 10,296,000.00 10,296,000.00 60,317.40 0.00
> 60,317.40 0.00 0.00 10,296,000.00
A4 12,070,000.00 12,070,000.00 74,129.92 0.00
> 74,129.92 0.00 0.00 12,070,000.00
A5 159,000,000.00 131,585,697.84 713,770.17 5,423,333.15 6,
>137,103.32 0.00 0.00 126,162,364.69
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 229,000,000.00 192,051,013.21 1,060,668.06 8,237,564.22 9,
>298,232.28 0.00 0.00 183,813,448.99
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AG7 658.022143 3.646539 100.937236
>104.583775 557.084907 6.650000% 6.650000%
A2 743844AH5 1,000.000000 5.608333 0.000000
> 5.608333 1,000.000000 6.730000% 6.730000%
A3 743844AJ1 1,000.000000 5.858333 0.000000
> 5.858333 1,000.000000 7.030000% 7.030000%
A4 743844AK8 1,000.000000 6.141667 0.000000
> 6.141667 1,000.000000 7.370000% 7.370000%
A5 743844AL6 827.583005 4.489121 34.109014
> 38.598134 793.473992 5.917500% 5.886250%
R 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: Alan Sueda
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: March 31, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: April 27, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1998 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> April 27, 1998
> DELINQUENT AND
> LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS IN IN IN
> INFORMATION
> DAYS DAYS DAYS FORECLOSURE REO BANKRUPTCY
>
> GROUP 1 PRINCIPA
>L BALANCE 1,967,552.988,092.004,099,558.003,304,831.00 0.00 1,012,178.0
>
> PERCENTAGE OF POOL BALA
>NCE 3.3021% 1.6583% 6.8803% 5.5465% 0.0000% 1.6987%
>
> NUMBER OF LOANS
> 35 16 48 32 0 18
>
> PERCENTAGE OF LOANS
> 3.0810% 1.4085% 4.2254% 2.8169% 0.0000% 1.5845%
>
> GROUP 2 PRINCIPA
>L BALANCE 6,026,771.2,207,724.9,753,500.005,762,454.00 753,077.00 3,354,835.0
>
> PERCENTAGE OF POOL BALA
>NCE 4.5866% 1.6802% 7.4228% 4.3854% 0.5731% 2.5531%
>
> NUMBER OF LOANS
> 64 27 91 54 4 34
>
> PERCENTAGE OF LOANS
> 4.5812% 1.9327% 6.5140% 3.8654% 0.2863% 2.4338%
>
> Note: Quantity and Pri
>ncipal Balance of Foreclosures, Bankruptcies, & REOs are Included in the
Delinq
>
>
> GROUP 1 GROUP 2
>
> BOOK VALUE OF LOANS IN
>REO: 0.00 818,099.00
>
> NUMBER OF LOANS IN BANK
>RUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 9 8
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 472,168.00 970,311.00
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 11.451731% 10.668101%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 202 349
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,180 1,447
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,136 1,397
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 62,215,315.37
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 59,584,160.52
>
> POOL FACTOR OF LOAN GRO
>UPS 85.072811% 82.614485%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 44 50
>
> SCHEDULE
>D PRINCIPAL RECEIVED 73,150.59 57,531.16
>
> CURTAILM
>ENTS 3,896.72 178,864.67
>
> PREPAYME
>NTS IN FULL 2,365,490.504,543,668.6
>
> LIQUIDAT
>IONS 188,617.04 223,048.84
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 0.00
>
> TOTAL PRINCIPAL:
> 2,631,154.855,003,113.2
>
> TOTAL PRINCIPAL RECEIVE
>D NET OF REALIZED LOSSES: 2,619,476.904,984,012.5
>
> SERVICER ADVANCES:
> 66,108.89 156,712.75
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-5 CERTIFICATES 0.00
>
>
> Page 2 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> April 27, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 592,078.73 1,210,704.0
>
> LIQUIDATION INTEREST
> 1,648.83 1,931.23
>
> REPURCHASE INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 25,923.05 56,834.64
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 25,923.05 56,834.64
>
> LESS: COMPENSATING IN
>TEREST 0.00 0.00
>
> LESS: DELINQUENT SER
>VICE FEES: (2,940.15) (7,495.70)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 22,982.90 49,338.94
>
> AMOUNTS PAID TO CERTIFI
>CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 0.00
>
> REIMBURSEMENT AMOUNT
> 0.00 0.00
>
> PREMIUM AMOUNT PAID
> 8,565.92 18,641.31
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.12230212 0.11720259
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 2,619,476.904,984,012.5
>
> TOTAL INTEREST COLLECTE
>D 567,804.52 1,155,800.6
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 3,187,281.426,139,813.2
>
> O/C AMOUNT BEGINNING
> 1,750,000.004,817,435.8
>
> O/C AMOUNT ENDING
> 1,933,076.225,237,655.6
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,933,076.226,478,905.9
>
> EXCESS SPREAD
> 211,822.25 422,252.51
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 194,754.17 439,320.59
>
> NET LIQUIDATION PROCEED
>S 176,939.09 203,948.13
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CURRENT NET LOSSES
> 11,677.95 19,100.71
>
> CUMULATIVE NET LOSSES
> 11,677.95 80,836.00
>
> DELINQUENCY LOSS FACTOR
> 2,186,761.565,316,543.5
>
> TOTAL EXPECTED LOSSES
> 2,198,439.515,397,379.5
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> April 27, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 592,078.73 1,210,704.0
>
> LIQUIDATION INTEREST
> 1,648.83 1,931.23
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> 0.00 0.00
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 2,619,476.904,984,012.5
>
> TOTAL INTEREST COLLECTE
>D 567,804.52 1,155,800.6
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 3,187,281.426,139,813.2
>
> O/C AMOUNT
> 1,738,322.054,798,335.1
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,933,076.226,478,905.9
>
> EXCESS SPREAD
> 211,822.25 422,252.51
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 194,754.17 439,320.59
>
> NET LIQUIDATION PROCEED
>S 176,939.09 203,948.13
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 11,677.95 80,836.00
>
> DELINQUENCY LOSS FACTOR
> 2,186,761.565,316,543.5
>
> TOTAL EXPECTED LOSSES
> 2,198,439.515,397,379.5
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
uency Figures.
ankers Trust Company
ankers Trust Company
ankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1997-2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 27,881,000.00 15,532,084.30 86,073.63 2,130,723.87 2,
>216,797.50 0.00 0.00 13,401,360.43
A2 19,753,000.00 19,753,000.00 110,781.41 0.00
>110,781.41 0.00 0.00 19,753,000.00
A3 10,296,000.00 10,296,000.00 60,317.40 0.00
> 60,317.40 0.00 0.00 10,296,000.00
A4 12,070,000.00 12,070,000.00 74,129.92 0.00
> 74,129.92 0.00 0.00 12,070,000.00
A5 159,000,000.00 126,162,364.69 598,224.26 4,480,428.24 5,
>078,652.50 0.00 0.00 121,681,936.45
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 229,000,000.00 183,813,448.99 929,526.62 6,611,152.11 7,
>540,678.73 0.00 0.00 177,202,296.88
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AG7 557.084907 3.087179 76.422075
> 79.509254 480.662832 6.650000% 6.650000%
A2 743844AH5 1,000.000000 5.608333 0.000000
> 5.608333 1,000.000000 6.730000% 6.730000%
A3 743844AJ1 1,000.000000 5.858333 0.000000
> 5.858333 1,000.000000 7.030000% 7.030000%
A4 743844AK8 1,000.000000 6.141667 0.000000
> 6.141667 1,000.000000 7.370000% 7.370000%
A5 743844AL6 793.473992 3.762417 28.178794
> 31.941211 765.295198 5.886250% 5.878440%
R 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: Alan Sueda
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: April 30, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: May 26, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1998 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> May 26, 1998
> DELINQUENT AND
> LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS IN IN IN
> INFORMATION
> DAYS DAYS DAYS FORECLOSURE REO BANKRUPTCY
>
> GROUP 1 PRINCIPA
>L BALANCE 1,774,741.751,062.004,726,997.003,654,206.00 34,107.00 886,335.00
>
> PERCENTAGE OF POOL BALA
>NCE 3.0781% 1.3027% 8.1986% 6.3379% 0.0592% 1.5373%
>
> NUMBER OF LOANS
> 39 12 54 39 1 15
>
> PERCENTAGE OF LOANS
> 3.5584% 1.0949% 4.9270% 3.5584% 0.0912% 1.3686%
>
> GROUP 2 PRINCIPA
>L BALANCE 5,675,750.2,324,182.9,930,136.006,013,855.00 790,577.00 3,481,103.0
>
> PERCENTAGE OF POOL BALA
>NCE 4.4558% 1.8246% 7.7957% 4.7212% 0.6206% 2.7328%
>
> NUMBER OF LOANS
> 66 28 98 61 5 38
>
> PERCENTAGE OF LOANS
> 4.8601% 2.0619% 7.2165% 4.4919% 0.3682% 2.7982%
>
> Note: Quantity and Pri
>ncipal Balance of Foreclosures, Bankruptcies, & REOs are Included in the
Delinq
>
>
> GROUP 1 GROUP 2
>
> BOOK VALUE OF LOANS IN
>REO: 39,298.00 863,755.00
>
> NUMBER OF LOANS IN BANK
>RUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 6 6
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 385,129.00 608,953.00
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 11.429101% 10.726555%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 200 348
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,136 1,397
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,096 1,358
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 59,584,160.52
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 57,656,138.27
>
> POOL FACTOR OF LOAN GRO
>UPS 82.320028% 80.087144%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 40 39
>
> SCHEDULE
>D PRINCIPAL RECEIVED 71,701.40 54,802.22
>
> CURTAILM
>ENTS (395.40) 3,888.84
>
> PREPAYME
>NTS IN FULL 1,856,716.253,842,105.4
>
> LIQUIDAT
>IONS 0.00 118,991.59
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 0.00
>
> TOTAL PRINCIPAL:
> 1,928,022.254,019,788.0
>
> TOTAL PRINCIPAL RECEIVE
>D NET OF REALIZED LOSSES: 1,928,022.253,977,812.5
>
> SERVICER ADVANCES:
> 68,656.96 157,679.94
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-5 CERTIFICATES 0.00
>
>
> Page 2 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> May 26, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 567,494.49 1,173,515.8
>
> LIQUIDATION INTEREST
> 0.00 1,042.03
>
> REPURCHASE INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 24,826.73 54,750.01
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 24,826.73 54,750.01
>
> LESS: COMPENSATING IN
>TEREST 0.00 0.00
>
> LESS: DELINQUENT SER
>VICE FEES: (3,041.62) (7,471.67)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 21,785.11 47,278.34
>
> AMOUNTS PAID TO CERTIFI
>CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 0.00
>
> REIMBURSEMENT AMOUNT
> 0.00 0.00
>
> PREMIUM AMOUNT PAID
> 8,167.24 17,873.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.11660986 0.11237203
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 1,928,022.253,977,812.5
>
> TOTAL INTEREST COLLECTE
>D 542,667.75 1,119,807.9
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,470,690.005,097,620.5
>
> O/C AMOUNT BEGINNING
> 1,933,076.225,237,655.6
>
> O/C AMOUNT ENDING
> 2,135,777.845,698,295.8
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 2,608,774.517,396,620.9
>
> EXCESS SPREAD
> 202,701.62 502,615.65
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 202,701.62 502,615.65
>
> NET LIQUIDATION PROCEED
>S 0.00 77,016.11
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CURRENT NET LOSSES
> 0.00 41,975.48
>
> CUMULATIVE NET LOSSES
> 11,677.95 122,811.48
>
> DELINQUENCY LOSS FACTOR
> 2,384,871.705,379,800.7
>
> TOTAL EXPECTED LOSSES
> 2,396,549.655,502,612.2
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> May 26, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 567,494.49 1,173,515.8
>
> LIQUIDATION INTEREST
> 0.00 1,042.03
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> 0.00 0.00
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 1,928,022.253,977,812.5
>
> TOTAL INTEREST COLLECTE
>D 542,667.75 1,119,807.9
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,470,690.005,097,620.5
>
> O/C AMOUNT
> 1,933,076.225,195,680.2
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 2,608,774.517,396,620.9
>
> EXCESS SPREAD
> 202,701.62 502,615.65
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 202,701.62 502,615.65
>
> NET LIQUIDATION PROCEED
>S 0.00 77,016.11
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 11,677.95 122,811.48
>
> DELINQUENCY LOSS FACTOR
> 2,384,871.705,379,800.7
>
> TOTAL EXPECTED LOSSES
> 2,396,549.655,502,612.2
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
uency Figures.
ankers Trust Company
ankers Trust Company
ankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1997-2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 27,881,000.00 13,401,360.43 74,265.87 2,337,469.62 2,
>411,735.49 0.00 0.00 11,063,890.81
A2 19,753,000.00 19,753,000.00 110,781.41 0.00
>110,781.41 0.00 0.00 19,753,000.00
A3 10,296,000.00 10,296,000.00 60,317.40 0.00
> 60,317.40 0.00 0.00 10,296,000.00
A4 12,070,000.00 12,070,000.00 74,129.92 0.00
> 74,129.92 0.00 0.00 12,070,000.00
A5 159,000,000.00 121,681,936.45 596,083.30 4,164,479.38 4,
>760,562.68 0.00 0.00 117,517,457.07
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 229,000,000.00 177,202,296.88 915,577.90 6,501,949.00 7,
>417,526.90 0.00 0.00 170,700,347.88
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AG7 480.662832 2.663673 83.837367
> 86.501040 396.825466 6.650000% 6.650000%
A2 743844AH5 1,000.000000 5.608333 0.000000
> 5.608333 1,000.000000 6.730000% 6.730000%
A3 743844AJ1 1,000.000000 5.858333 0.000000
> 5.858333 1,000.000000 7.030000% 7.030000%
A4 743844AK8 1,000.000000 6.141667 0.000000
> 6.141667 1,000.000000 7.370000% 7.370000%
A5 743844AL6 765.295198 3.748952 26.191694
> 29.940646 739.103504 5.878440% 5.886250%
R 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: Alan Sueda
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: May 29, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: June 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1998 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> June 25, 1998
> DELINQUENT AND
> LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS IN IN IN
> INFORMATION
> DAYS DAYS DAYS FORECLOSURE REO BANKRUPTCY
>
> GROUP 1 PRINCIPA
>L BALANCE 2,418,003.506,404.005,054,594.004,355,394.00 34,107.00 747,327.00
>
> PERCENTAGE OF POOL BALA
>NCE 4.3555% 0.9122% 9.1048% 7.8454% 0.0614% 1.3462%
>
> NUMBER OF LOANS
> 46 14 57 44 1 13
>
> PERCENTAGE OF LOANS
> 4.3355% 1.3195% 5.3723% 4.1470% 0.0943% 1.2253%
>
> GROUP 2 PRINCIPA
>L BALANCE 5,558,303.2,715,169.10,576,929.06,936,031.00 888,309.00 3,538,925.0
>
> PERCENTAGE OF POOL BALA
>NCE 4.4936% 2.1951% 8.5510% 5.6075% 0.7182% 2.8611%
>
> NUMBER OF LOANS
> 64 29 104 66 7 40
>
> PERCENTAGE OF LOANS
> 4.8375% 2.1920% 7.8609% 4.9887% 0.5291% 3.0234%
>
> Note: Quantity and Pri
>ncipal Balance of Foreclosures, Bankruptcies, & REOs are Included in the
Delinq
>
>
> GROUP 1 GROUP 2
>
> BOOK VALUE OF LOANS IN
>REO: 39,672.00 977,466.00
>
> NUMBER OF LOANS IN BANK
>RUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 6 5
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 342,141.00 334,477.00
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 11.434949% 10.785377%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 198 347
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,096 1,358
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,061 1,323
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 57,656,138.27
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 55,515,540.21
>
> POOL FACTOR OF LOAN GRO
>UPS 79.263735% 77.768537%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 35 35
>
> SCHEDULE
>D PRINCIPAL RECEIVED 66,510.61 48,586.33
>
> CURTAILM
>ENTS 6,055.12 4,338.66
>
> PREPAYME
>NTS IN FULL 1,989,618.943,571,411.0
>
> LIQUIDAT
>IONS 78,413.39 63,455.64
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 0.00
>
> TOTAL PRINCIPAL:
> 2,140,598.063,687,791.6
>
> TOTAL PRINCIPAL RECEIVE
>D NET OF REALIZED LOSSES: 2,139,920.943,687,067.6
>
> SERVICER ADVANCES:
> 76,300.90 168,176.91
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-5 CERTIFICATES 0.00
>
>
> Page 2 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> June 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 548,700.26 1,144,370.1
>
> LIQUIDATION INTEREST
> 712.26 499.71
>
> REPURCHASE INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 24,023.39 53,075.10
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 24,023.39 53,075.10
>
> LESS: COMPENSATING IN
>TEREST 0.00 0.00
>
> LESS: DELINQUENT SER
>VICE FEES: (3,344.20) (7,854.97)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 20,679.19 45,220.13
>
> AMOUNTS PAID TO CERTIFI
>CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 0.00
>
> REIMBURSEMENT AMOUNT
> 0.00 0.00
>
> PREMIUM AMOUNT PAID
> 7,865.38 17,238.27
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.11229998 0.10838132
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 2,139,920.943,687,067.6
>
> TOTAL INTEREST COLLECTE
>D 525,389.13 1,091,794.8
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,665,310.074,778,862.4
>
> O/C AMOUNT BEGINNING
> 2,135,777.845,698,295.8
>
> O/C AMOUNT ENDING
> 2,332,649.406,174,983.6
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 3,027,577.787,561,235.1
>
> EXCESS SPREAD
> 197,548.68 477,411.73
>
> EXCESS SPREAD DISTRIBUT
>ABLE 196,871.56 476,687.75
>
> NET LIQUIDATION PROCEED
>S 77,736.27 62,731.66
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CURRENT NET LOSSES
> 677.12 723.98
>
> CUMULATIVE NET LOSSES
> 12,355.07 123,535.46
>
> DELINQUENCY LOSS FACTOR
> 2,542,287.605,729,358.3
>
> TOTAL EXPECTED LOSSES
> 2,554,642.675,852,893.8
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> June 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 548,700.26 1,144,370.1
>
> LIQUIDATION INTEREST
> 712.26 499.71
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> 0.00 0.00
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 2,139,920.943,687,067.6
>
> TOTAL INTEREST COLLECTE
>D 525,389.13 1,091,794.8
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,665,310.074,778,862.4
>
> O/C AMOUNT
> 2,135,100.725,697,571.8
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 3,027,577.787,561,235.1
>
> EXCESS SPREAD
> 197,548.68 477,411.73
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 196,871.56 476,687.75
>
> NET LIQUIDATION PROCEED
>S 77,736.27 62,731.66
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 12,355.07 123,535.46
>
> DELINQUENCY LOSS FACTOR
> 2,542,287.605,729,358.3
>
> TOTAL EXPECTED LOSSES
> 2,554,642.675,852,893.8
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
uency Figures.
ankers Trust Company
ankers Trust Company
ankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1997-2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 27,881,000.00 11,063,890.81 61,312.39 2,302,601.96 2,
>363,914.35 0.00 0.00 8,761,288.85
A2 19,753,000.00 19,753,000.00 110,781.41 0.00
>110,781.41 0.00 0.00 19,753,000.00
A3 10,296,000.00 10,296,000.00 60,317.40 0.00
> 60,317.40 0.00 0.00 10,296,000.00
A4 12,070,000.00 12,070,000.00 74,129.92 0.00
> 74,129.92 0.00 0.00 12,070,000.00
A5 159,000,000.00 117,517,457.07 614,877.45 5,448,567.46 6,
>063,444.91 0.00 0.00 112,068,889.61
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 229,000,000.00 170,700,347.88 921,418.57 7,751,169.42 8,
>672,587.99 0.00 0.00 162,949,178.46
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AG7 396.825466 2.199074 82.586778
> 84.785852 314.238688 6.650000% 6.650000%
A2 743844AH5 1,000.000000 5.608333 0.000000
> 5.608333 1,000.000000 6.730000% 6.730000%
A3 743844AJ1 1,000.000000 5.858333 0.000000
> 5.858333 1,000.000000 7.030000% 7.030000%
A4 743844AK8 1,000.000000 6.141667 0.000000
> 6.141667 1,000.000000 7.370000% 7.370000%
A5 743844AL6 739.103504 3.867154 34.267720
> 38.134874 704.835784 5.886250% 5.886250%
R 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: Alan Sueda
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: June 30, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: July 27, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1998 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> July 27, 1998
> DELINQUENT AND
> LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS IN IN IN
> INFORMATION
> DAYS DAYS DAYS FORECLOSURE REO BANKRUPTCY
>
> GROUP 1 PRINCIPA
>L BALANCE 2,004,959.770,503.004,853,655.004,227,447.00 212,631.00 750,913.00
>
> PERCENTAGE OF POOL BALA
>NCE 3.7542% 1.4427% 9.0883% 7.9157% 0.3981% 1.4061%
>
> NUMBER OF LOANS
> 46 15 54 44 3 13
>
> PERCENTAGE OF LOANS
> 4.4922% 1.4648% 5.2734% 4.2969% 0.2930% 1.2695%
>
> GROUP 2 PRINCIPA
>L BALANCE 5,772,598.2,777,413.10,781,237.07,287,084.00 879,227.00 3,245,295.0
>
> PERCENTAGE OF POOL BALA
>NCE 4.8664% 2.3414% 9.0888% 6.1432% 0.7412% 2.7358%
>
> NUMBER OF LOANS
> 64 31 106 69 7 38
>
> PERCENTAGE OF LOANS
> 5.0354% 2.4390% 8.3399% 5.4288% 0.5507% 2.9898%
>
> Note: Quantity and Pri
>ncipal Balance of Foreclosures, Bankruptcies, & REOs are Included in the
Delinq
>
>
> GROUP 1 GROUP 2
>
> BOOK VALUE OF LOANS IN
>REO: 238,336.00 975,292.00
>
> NUMBER OF LOANS IN BANK
>RUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 5 6
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 254,154.00 460,327.00
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 11.462112% 10.833129%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 198 346
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,061 1,323
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,024 1,271
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 55,515,540.21
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 53,405,539.92
>
> POOL FACTOR OF LOAN GRO
>UPS 76.251128% 74.580134%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 37 52
>
> SCHEDULE
>D PRINCIPAL RECEIVED 68,420.39 50,811.52
>
> CURTAILM
>ENTS 121,743.76 (476.09)
>
> PREPAYME
>NTS IN FULL 1,919,836.144,806,291.3
>
> LIQUIDAT
>IONS 0.00 214,592.94
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 0.00
>
> TOTAL PRINCIPAL:
> 2,110,000.295,071,219.7
>
> TOTAL PRINCIPAL RECEIVE
>D NET OF REALIZED LOSSES: 2,110,000.295,016,015.7
>
> SERVICER ADVANCES:
> 73,079.79 171,786.81
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-5 CERTIFICATES 0.00
>
>
> Page 2 of 3 c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> July 27, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 530,271.13 1,114,790.5
>
> LIQUIDATION INTEREST
> 0.00 1,856.22
>
> REPURCHASE INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 23,131.48 51,538.52
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 23,131.48 51,538.52
>
> LESS: COMPENSATING IN
>TEREST 0.00 0.00
>
> LESS: DELINQUENT SER
>VICE FEES: (3,198.67) (8,017.73)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 19,932.81 43,520.79
>
> AMOUNTS PAID TO CERTIFI
>CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 0.00
>
> REIMBURSEMENT AMOUNT
> 0.00 0.00
>
> PREMIUM AMOUNT PAID
> 7,534.24 16,648.31
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.10757204 0.10467210
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 2,110,000.295,016,015.7
>
> TOTAL INTEREST COLLECTE
>D 507,139.66 1,065,108.2
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,617,139.956,081,123.9
>
> O/C AMOUNT BEGINNING
> 2,332,649.406,174,983.6
>
> O/C AMOUNT ENDING
> 2,525,251.076,552,331.3
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 2,878,168.227,916,766.6
>
> EXCESS SPREAD
> 192,601.67 432,551.72
>
> EXCESS SPREAD DISTRIBUT
>ABLE 192,601.67 377,347.74
>
> NET LIQUIDATION PROCEED
>S 0.00 159,388.96
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CURRENT NET LOSSES
> 0.00 55,203.98
>
> CUMULATIVE NET LOSSES
> 12,355.07 178,739.44
>
> DELINQUENCY LOSS FACTOR
> 2,468,262.895,853,629.9
>
> TOTAL EXPECTED LOSSES
> 2,480,617.966,032,369.4
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> July 27, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 530,271.13 1,114,790.5
>
> LIQUIDATION INTEREST
> 0.00 1,856.22
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> 0.00 0.00
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 2,110,000.295,016,015.7
>
> TOTAL INTEREST COLLECTE
>D 507,139.66 1,065,108.2
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,617,139.956,081,123.9
>
> O/C AMOUNT
> 2,332,649.406,119,779.6
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 2,878,168.227,916,766.6
>
> EXCESS SPREAD
> 192,601.67 432,551.72
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 192,601.67 377,347.74
>
> NET LIQUIDATION PROCEED
>S 0.00 159,388.96
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 12,355.07 178,739.44
>
> DELINQUENCY LOSS FACTOR
> 2,468,262.895,853,629.9
>
> TOTAL EXPECTED LOSSES
> 2,480,617.966,032,369.4
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
uency Figures.
ankers Trust Company
ankers Trust Company
ankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1997-2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 27,881,000.00 8,761,288.85 48,552.14 3,265,119.27 3,
>313,671.41 0.00 0.00 5,496,169.58
A2 19,753,000.00 19,753,000.00 110,781.41 0.00
>110,781.41 0.00 0.00 19,753,000.00
A3 10,296,000.00 10,296,000.00 60,317.40 0.00
> 60,317.40 0.00 0.00 10,296,000.00
A4 12,070,000.00 12,070,000.00 74,129.92 0.00
> 74,129.92 0.00 0.00 12,070,000.00
A5 159,000,000.00 112,068,889.61 531,397.21 3,920,333.26 4,
>451,730.47 0.00 0.00 108,148,556.35
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 229,000,000.00 162,949,178.46 825,178.08 7,185,452.53 8,
>010,630.61 0.00 0.00 155,763,725.93
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AG7 314.238688 1.741406 117.109116
>118.850522 197.129571 6.650000% 6.650000%
A2 743844AH5 1,000.000000 5.608333 0.000000
> 5.608333 1,000.000000 6.730000% 6.730000%
A3 743844AJ1 1,000.000000 5.858333 0.000000
> 5.858333 1,000.000000 7.030000% 7.030000%
A4 743844AK8 1,000.000000 6.141667 0.000000
> 6.141667 1,000.000000 7.370000% 7.370000%
A5 743844AL6 704.835784 3.342121 24.656184
> 27.998305 680.179600 5.886250% 5.878440%
R 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: Alan Sueda
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: July 31, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: August 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1998 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> August 25, 1998
> DELINQUENT AND
> LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS IN IN IN
> INFORMATION
> DAYS DAYS DAYS FORECLOSURE REO BANKRUPTCY
>
> GROUP 1 PRINCIPA
>L BALANCE 1,961,869.741,371.005,019,828.003,946,956.00 358,560.00 885,097.00
>
> PERCENTAGE OF POOL BALA
>NCE 3.8983% 1.4731% 9.9745% 7.8427% 0.7125% 1.7587%
>
> NUMBER OF LOANS
> 43 15 57 40 5 15
>
> PERCENTAGE OF LOANS
> 4.3744% 1.5259% 5.7986% 4.0692% 0.5086% 1.5259%
>
> GROUP 2 PRINCIPA
>L BALANCE 7,618,352.2,095,657.11,728,317.06,535,074.001,208,682.004,455,103.0
>
> PERCENTAGE OF POOL BALA
>NCE 6.6146% 1.8196% 10.1831% 5.6741% 1.0494% 3.8681%
>
> NUMBER OF LOANS
> 81 24 115 64 11 47
>
> PERCENTAGE OF LOANS
> 6.5587% 1.9433% 9.3117% 5.1822% 0.8907% 3.8057%
>
> Note: Quantity and Pri
>ncipal Balance of Foreclosures, Bankruptcies, & REOs are Included in the
Delinq
>
>
> GROUP 1 GROUP 2
>
> BOOK VALUE OF LOANS IN
>REO: 408,769.00 1,347,996.0
>
> NUMBER OF LOANS IN BANK
>RUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 5 7
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 253,813.00 767,625.00
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 11.458948% 10.836609%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 197 345
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,024 1,271
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 983 1,235
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 53,405,539.92
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 50,326,710.47
>
> POOL FACTOR OF LOAN GRO
>UPS 71.855250% 72.413037%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 41 36
>
> SCHEDULE
>D PRINCIPAL RECEIVED 67,614.12 49,851.39
>
> CURTAILM
>ENTS (927.21) 12,951.31
>
> PREPAYME
>NTS IN FULL 3,012,142.543,384,008.3
>
> LIQUIDAT
>IONS 0.00 0.00
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 0.00
>
> TOTAL PRINCIPAL:
> 3,078,829.453,446,811.0
>
> TOTAL PRINCIPAL RECEIVE
>D NET OF REALIZED LOSSES: 3,078,829.453,446,811.0
>
> SERVICER ADVANCES:
> 73,461.14 191,137.71
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-5 CERTIFICATES 0.00
>
>
> Page 2 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> August 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 509,976.09 1,071,209.8
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> REPURCHASE INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 22,252.31 49,425.51
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 22,252.31 49,425.51
>
> LESS: COMPENSATING IN
>TEREST 0.00 0.00
>
> LESS: DELINQUENT SER
>VICE FEES: (3,237.47) (8,935.05)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 19,014.84 40,490.46
>
> AMOUNTS PAID TO CERTIFI
>CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 0.00
>
> REIMBURSEMENT AMOUNT
> 0.00 0.00
>
> PREMIUM AMOUNT PAID
> 7,208.04 15,876.43
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.10291464 0.09981909
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 3,078,829.453,446,811.0
>
> TOTAL INTEREST COLLECTE
>D 487,723.78 1,021,784.3
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 3,566,553.234,468,595.4
>
> O/C AMOUNT BEGINNING
> 2,525,251.076,552,331.3
>
> O/C AMOUNT ENDING
> 2,711,540.897,025,853.5
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 3,093,811.349,133,006.6
>
> EXCESS SPREAD
> 186,289.82 473,522.19
>
> EXCESS SPREAD DISTRIBUT
>ABLE 186,289.82 473,522.19
>
> NET LIQUIDATION PROCEED
>S 0.00 0.00
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CURRENT NET LOSSES
> 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 12,355.07 178,739.44
>
> DELINQUENCY LOSS FACTOR
> 2,528,821.726,312,715.4
>
> TOTAL EXPECTED LOSSES
> 2,541,176.796,491,454.8
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> August 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 509,976.09 1,071,209.8
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> 0.00 0.00
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 3,078,829.453,446,811.0
>
> TOTAL INTEREST COLLECTE
>D 487,723.78 1,021,784.3
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 3,566,553.234,468,595.4
>
> O/C AMOUNT
> 2,525,251.076,552,331.3
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 3,093,811.349,133,006.6
>
> EXCESS SPREAD
> 186,289.82 473,522.19
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 186,289.82 473,522.19
>
> NET LIQUIDATION PROCEED
>S 0.00 0.00
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 12,355.07 178,739.44
>
> DELINQUENCY LOSS FACTOR
> 2,528,821.726,312,715.4
>
> TOTAL EXPECTED LOSSES
> 2,541,176.796,491,454.8
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
uency Figures.
ankers Trust Company
ankers Trust Company
ankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1997-2
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 27,881,000.00 5,496,169.58 30,457.94 1,489,146.74 1,
>519,604.68 0.00 0.00 4,007,022.84
A2 19,753,000.00 19,753,000.00 110,781.41 0.00
>110,781.41 0.00 0.00 19,753,000.00
A3 10,296,000.00 10,296,000.00 60,317.40 0.00
> 60,317.40 0.00 0.00 10,296,000.00
A4 12,070,000.00 12,070,000.00 74,129.92 0.00
> 74,129.92 0.00 0.00 12,070,000.00
A5 159,000,000.00 108,148,556.35 547,446.91 5,165,904.21 5,
>713,351.12 0.00 0.00 102,982,652.14
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 229,000,000.00 155,763,725.93 823,133.58 6,655,050.95 7,
>478,184.53 0.00 0.00 149,108,674.98
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AG7 197.129571 1.092426 53.410808
> 54.503234 143.718763 6.650000% 6.650000%
A2 743844AH5 1,000.000000 5.608333 0.000000
> 5.608333 1,000.000000 6.730000% 6.730000%
A3 743844AJ1 1,000.000000 5.858333 0.000000
> 5.858333 1,000.000000 7.030000% 7.030000%
A4 743844AK8 1,000.000000 6.141667 0.000000
> 6.141667 1,000.000000 7.370000% 7.370000%
A5 743844AL6 680.179600 3.443062 32.489964
> 35.933026 647.689636 5.878440% 5.823750%
R 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Provident Bank ADMI
>NISTRATOR: Alan Sueda
SERVICER: Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: August 31, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: September 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1998 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> September 25, 1998
> DELINQUENT AND
> LOANS LOANS LOANS
>
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS IN IN IN
> INFORMATION
> DAYS DAYS DAYS FORECLOSURE REO BANKRUPTCY
>
> GROUP 1 PRINCIPA
>L BALANCE 2,725,249.437,955.004,158,687.001,811,476.00 629,990.00 1,849,223.0
>
> PERCENTAGE OF POOL BALA
>NCE 5.6923% 0.9148% 8.6864% 3.7837% 1.3159% 3.8625%
>
> NUMBER OF LOANS
> 54 11 56 23 11 23
>
> PERCENTAGE OF LOANS
> 5.6902% 1.1591% 5.9009% 2.4236% 1.1591% 2.4236%
>
> GROUP 2 PRINCIPA
>L BALANCE 7,876,799.1,614,592.12,377,921.06,334,842.001,546,595.004,705,076.0
>
> PERCENTAGE OF POOL BALA
>NCE 7.0604% 1.4472% 11.0949% 5.6782% 1.3863% 4.2174%
>
> NUMBER OF LOANS
> 81 20 122 61 15 48
>
> PERCENTAGE OF LOANS
> 6.7953% 1.6779% 10.2349% 5.1174% 1.2584% 4.0268%
>
> Note: Quantity and Pri
>ncipal Balance of Foreclosures, Bankruptcies, & REOs are Included in the
Delinq
>
>
> GROUP 1 GROUP 2
>
> BOOK VALUE OF LOANS IN
>REO: 714,352.00 1,737,287.0
>
> NUMBER OF LOANS IN BANK
>RUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 7 7
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 418,945.00 759,448.00
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 11.424438% 10.817281%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 197 344
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 983 1,235
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 949 1,192
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 50,326,710.47
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 47,876,022.84
>
> POOL FACTOR OF LOAN GRO
>UPS 68.356218% 70.142966%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 34 43
>
> SCHEDULE
>D PRINCIPAL RECEIVED 64,738.67 49,014.80
>
> CURTAILM
>ENTS 90,048.14 4,281.78
>
> PREPAYME
>NTS IN FULL 1,704,145.093,495,567.8
>
> LIQUIDAT
>IONS 591,755.73 61,729.44
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 0.00
>
> TOTAL PRINCIPAL:
> 2,450,687.633,610,593.8
>
> TOTAL PRINCIPAL RECEIVE
>D NET OF REALIZED LOSSES: 2,447,453.093,605,778.9
>
> SERVICER ADVANCES:
> 69,438.15 197,029.85
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-5 CERTIFICATES 0.00
>
>
> Page 2 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> September 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 473,087.82 1,037,695.9
>
> LIQUIDATION INTEREST
> 6,040.84 532.42
>
> REPURCHASE INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 20,969.46 47,989.34
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 20,969.46 47,989.34
>
> LESS: COMPENSATING IN
>TEREST 0.00 0.00
>
> LESS: DELINQUENT SER
>VICE FEES: (3,051.07) (9,113.17)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 17,918.39 38,876.17
>
> AMOUNTS PAID TO CERTIFI
>CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 0.00
>
> REIMBURSEMENT AMOUNT
> 0.00 0.00
>
> PREMIUM AMOUNT PAID
> 6,745.48 15,321.05
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.09631032 0.09632728
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 2,447,453.093,605,778.9
>
> TOTAL INTEREST COLLECTE
>D 458,159.19 990,239.01
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,905,612.284,596,017.9
>
> O/C AMOUNT BEGINNING
> 2,711,540.897,025,853.5
>
> O/C AMOUNT ENDING
> 1,750,000.008,581,163.9
>
> O/C REDUCTION AMOUNT
> 958,306.35 0.00
>
> EXCESS O/C AMOUNT
> 958,306.35 0.00
>
> SPECIFIED O/C AMOUNT
> 1,750,000.009,536,787.8
>
> EXCESS SPREAD
> 1,133,614.00426,511.26
>
> EXCESS SPREAD DISTRIBUT
>ABLE 1,130,379.46421,696.37
>
> NET LIQUIDATION PROCEED
>S 588,521.19 56,914.55
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CURRENT NET LOSSES
> 3,234.54 4,814.89
>
> CUMULATIVE NET LOSSES
> 15,589.61 183,554.33
>
> DELINQUENCY LOSS FACTOR
> 2,175,360.006,516,399.2
>
> TOTAL EXPECTED LOSSES
> 2,190,949.616,699,953.5
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-2
> Statement To Certific
>ateholders
> Distribution Date:
> September 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 473,087.82 1,037,695.9
>
> LIQUIDATION INTEREST
> 6,040.84 532.42
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> 0.00 0.00
>
> REIMBURSEMENTS TO MASTE
>R SERVICER PURSUANT TO SECT 3.03 0.00 0.00
>
> INSURED PAYMENTS
> 0.00 0.00
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.00000000 0.00000000
>
> TOTAL PRINCIPAL COLLECT
>ED 2,447,453.093,605,778.9
>
> TOTAL INTEREST COLLECTE
>D 458,159.19 990,239.01
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,905,612.284,596,017.9
>
> O/C AMOUNT
> 2,708,306.357,021,038.6
>
> O/C REDUCTION AMOUNT
> 958,306.35 0.00
>
> EXCESS O/C AMOUNT
> 958,306.35 0.00
>
> SPECIFIED O/C AMOUNT
> 1,750,000.009,536,787.8
>
> EXCESS SPREAD
> 1,133,614.00426,511.26
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 1,130,379.46421,696.37
>
> NET LIQUIDATION PROCEED
>S 588,521.19 56,914.55
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CUMULATIVE NET LOSSES
> 15,589.61 183,554.33
>
> DELINQUENCY LOSS FACTOR
> 2,175,360.006,516,399.2
>
> TOTAL EXPECTED LOSSES
> 2,190,949.616,699,953.5
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
uency Figures.
ankers Trust Company
ankers Trust Company
ankers Trust Company