SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant To Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 26, 1998
THE PROVIDENT BANK
(as depositor under the Pooling and Servicing Agreement, dated as
of September 1, 1997, which forms Provident Bank Home Equity Loan
Trust 1997-A, which will issue the Provident Bank Home Equity Loan
Trust 1997-A, Revolving Home Equity Loan Asset-Backed Certificates,
Series 1997-A)
THE PROVIDENT BANK
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-35275 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 October 26, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of November 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 September
1, 1997.
Date: January 19, 1999 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Document
Monthly Remittance Statement to the Certificateholders dated
as of October 26, 1998.
Monthly Remittance Statement to the Certificateholders dated
as of November 25, 1998.
Provident Bank Revolving Home Equity Loan Trust 1997-A
Asset Backed Certificates
Series 1997-A
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
Investor 165,590,000.00 109,913,534.09 546,472.54 3,931,552.42 4,
>478,024.96 0.00 0.00 105,981,981.67
Transfero 0.00 0.00 225,551.41 3,135,253.51 3,
>360,804.92 0.00 0.00 0.00
TOTALS 165,590,000.00 109,913,534.09 772,023.95 7,066,805.93 7,
>838,829.88 0.00 0.00 105,981,981.67
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
Investor 743844AV4 663.769153 3.300154 23.742692
> 27.042847 640.026461 5.773750% N/A
Transferor 0.000000 1.362108 18.933834
> 20.295941 0.000000 0.000000% 0.000000%
SELLER: The Provident Bank ADMI
>NISTRATOR: Alan T. Sueda
SERVICER: The Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: September 30, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: October 26, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 2
> (c) COPYRIGHT 1998 Bankers Trust Company
> Provident Bank Revolvin
>g Home Equity Loan Trust 1997-A
> Asset Backed Certificat
>es
> Series 1997-A
> Statement To Certific
>ateholders
> Distribution Date:
> October 26, 1998
> TOTAL SERVICING FEES AC
>CRUED FOR THE CURRENT PERIOD: 47,909.60
>
> TRUSTEE FEES PAYABLE TO
> THE TRUSTEE FOR THE CURRENT PERIOD: 958.19
>
> INSURANCE PREMIUM PAYAB
>LE TO THE CERTIFICATE INSURER FOR THE CURRENT PERIOD: 9,464.78
>
> DELINQUENT AND
> LOANS
>
> FORECLOSURE LOAN
> 30-59 60-89 90 + IN
>
> INFORMATION
> DAYS DAYS DAYS TOTAL FORECLOSURE
>
> PRINCIPAL BALANCE
> 1,339,431. 8,765.41 66,805.45 1,415,002.07211,797.30
>
> PERCENTAGE OF POOL BALA
>NCE 1.2061% 0.0079% 0.0602% 1.2742% 0.1907%
>
> NUMBER OF LOANS
> 72 4 14 90 7
>
> INVESTOR FLOATING ALLOC
>ATION PERCENTAGE 93.64%
>
> THE INVESTED AMOUNT
> 107,671,679.83
>
> AGGREGATE BEGINNING POO
>L BALANCE 114,983,048.53
>
> AGGREGATE ENDING POOL B
>ALANCE 111,051,496.11
>
> OVERCOLLATERALIZATION A
>MOUNT 1,689,698.16
>
> CREDIT ENHANCEMENT DRAW
> AMOUNT 2,241,854.26
>
> TRANSFEROR NOTIONAL BAL
>ANCE 3,379,816.28
>
> TRANSFEROR CURRENT PERI
>OD CERTIFICATE INTEREST 49,090.29
>
> AVAILABLE FUNDS REMAINI
>NG TO TRANSFEROR FOR CURRENT PERIOD 176,461.12
>
> BOOK VALUE OF ANY REO P
>ROPERTY 0.00
>
> ACCRUED INVESTOR CERTIF
>ICATE INTEREST SHORTFALL TRACKING :
>
> BEG UNPAID LESS : PLUS : ENDING UNPA
>
>
> INTEREST CURRENT CURRENT INTEREST
>
>
> SHORTFALL PAYMENT SHORTFALL SHORTFALL
>
>
> CLASS A 0.00 0.00 0.00 0.00
>
>
> TOTALS : 0.00 0.00 0.00 0.00
>
> UNREIMBURSED INVESTOR L
>OSS REDUCTION AMOUNTS :
>
> BEG UNPAID LESS : PLUS : ENDING UNPA
>
>
> LOSS REDUCTI CURRENT LOSS REDUCTILOSS REDUCT
>
>
> AMOUNT PAYMENT AMOUNT AMOUNT
>
>
> CLASS A 0.00 0.00 0.00 0.00
>
>
> TOTALS : 0.00 0.00 0.00 0.00
>
>
> Page 2 of 2 (c) COPYRIGHT 1998 B
>
ID
ID
ION
ankers Trust Company
Provident Bank Revolving Home Equity Loan Trust 1997-A
Asset Backed Certificates
Series 1997-A
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
Investor 165,590,000.00 105,981,981.67 476,864.16 5,093,514.66 5,
>570,378.82 0.00 0.00 100,888,467.01
Transfero 0.00 0.00 400,400.44 2,616,623.70 3,
>017,024.14 0.00 0.00 0.00
TOTALS 165,590,000.00 105,981,981.67 877,264.60 7,710,138.36 8,
>587,402.96 0.00 0.00 100,888,467.01
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
Investor 743844AV4 640.026461 2.879788 30.759796
> 33.639585 609.266665 5.399380% N/A
Transferor 0.000000 2.418023 15.801822
> 18.219845 0.000000 0.000000% 0.000000%
SELLER: The Provident Bank ADMI
>NISTRATOR: Alan T. Sueda
SERVICER: The Provident Bank
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brothers
> 3 Park Plaza
RECORD DATE: October 30, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: November 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 2
> (c) COPYRIGHT 1998 Bankers Trust Company
> Provident Bank Revolvin
>g Home Equity Loan Trust 1997-A
> Asset Backed Certificat
>es
> Series 1997-A
> Statement To Certific
>ateholders
> Distribution Date:
> November 25, 1998
> TOTAL SERVICING FEES AC
>CRUED FOR THE CURRENT PERIOD: 46,271.46
>
> TRUSTEE FEES PAYABLE TO
> THE TRUSTEE FOR THE CURRENT PERIOD: 925.43
>
> INSURANCE PREMIUM PAYAB
>LE TO THE CERTIFICATE INSURER FOR THE CURRENT PERIOD: 8,831.83
>
> DELINQUENT AND
> LOANS
>
> FORECLOSURE LOAN
> 30-59 60-89 90 + IN
>
> INFORMATION
> DAYS DAYS DAYS TOTAL FORECLOSURE
>
> PRINCIPAL BALANCE
> 693,642.24 83,974.77 82,341.53 859,958.54 212,434.90
>
> PERCENTAGE OF POOL BALA
>NCE 0.6546% 0.0793% 0.0777% 0.8116% 0.2005%
>
> NUMBER OF LOANS
> 45 6 12 63 6
>
> INVESTOR FLOATING ALLOC
>ATION PERCENTAGE 92.37%
>
> THE INVESTED AMOUNT
> 102,578,165.17
>
> AGGREGATE BEGINNING POO
>L BALANCE 111,051,496.11
>
> AGGREGATE ENDING POOL B
>ALANCE 105,957,981.45
>
> OVERCOLLATERALIZATION A
>MOUNT 1,689,698.16
>
> CREDIT ENHANCEMENT DRAW
> AMOUNT 3,403,816.50
>
> TRANSFEROR NOTIONAL BAL
>ANCE 3,379,816.28
>
> TRANSFEROR CURRENT PERI
>OD CERTIFICATE INTEREST 66,936.09
>
> AVAILABLE FUNDS REMAINI
>NG TO TRANSFEROR FOR CURRENT PERIOD 333,464.35
>
> BOOK VALUE OF ANY REO P
>ROPERTY 0.00
>
> ACCRUED INVESTOR CERTIF
>ICATE INTEREST SHORTFALL TRACKING :
>
> BEG UNPAID LESS : PLUS : ENDING UNPA
>
>
> INTEREST CURRENT CURRENT INTEREST
>
>
> SHORTFALL PAYMENT SHORTFALL SHORTFALL
>
>
> CLASS A 0.00 0.00 0.00 0.00
>
>
> TOTALS : 0.00 0.00 0.00 0.00
>
> UNREIMBURSED INVESTOR L
>OSS REDUCTION AMOUNTS :
>
> BEG UNPAID LESS : PLUS : ENDING UNPA
>
>
> LOSS REDUCTI CURRENT LOSS REDUCTILOSS REDUCT
>
>
> AMOUNT PAYMENT AMOUNT AMOUNT
>
>
> CLASS A 0.00 0.00 0.00 0.00
>
>
> TOTALS : 0.00 0.00 0.00 0.00
>
>
> Page 2 of 2 (c) COPYRIGHT 1998 B
>
ID
ID
ION
ankers Trust Company