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): April 27, 1998
THE PROVIDENT BANK
(as depositor under the Pooling and Servicing Agreement, dated as of
December 1, 1997, which forms Provident Bank Home Equity Loan Trust
1997-4, which will issue the Provident Bank Home Equity Loan Trust
1997-4, Home Equity Loan Asset-Backed Certificates, Series 1997-4)
THE PROVIDENT BANK
(Exact name of Registrant as specified in its Charter)
OHIO
(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
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.
Monthly Remittance Statement to the Certificateholders dated as of
October 26, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
November 25, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
December 28, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
January 25, 1999.
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 December 1, 1997.
Date: January 29, 1999 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Document
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.
Monthly Remittance Statement to the Certificateholders dated as of
October 26, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
November 25, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
December 28, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
January 25, 1999.
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1997-4
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 24,422,000.00 22,658,707.60 121,247.69 410,922.07
>532,169.76 0.00 0.00 22,247,785.53
A2 16,852,000.00 16,852,000.00 91,562.53 0.00
> 91,562.53 0.00 0.00 16,852,000.00
A3 21,226,000.00 21,226,000.00 122,226.38 0.00
>122,226.38 0.00 0.00 21,226,000.00
A4 187,500,000.00 181,976,144.35 990,443.08 3,962,383.86 4,
>952,826.94 0.00 0.00 178,013,760.49
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 250,000,000.00 242,712,851.95 1,325,479.68 4,373,305.93 5,
>698,785.61 0.00 0.00 238,339,546.02
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AW2 927.799017 4.964691 16.825898
> 21.790589 910.973120 5.837500% 5.806250%
A2 743844AX0 1,000.000000 5.433333 0.000000
> 5.433333 1,000.000000 6.520000% 6.520000%
A3 743844AY8 1,000.000000 5.758333 0.000000
> 5.758333 1,000.000000 6.910000% 6.910000%
A4 743844AZ5 970.539437 5.282363 21.132714
> 26.415077 949.406723 5.937500% 5.906250%
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 1997-4
> 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 356,738.40154,920.32 702,721.32 854,160.96 0.00 179,146.84
>
> PERCENTAGE OF POOL BALA
>NCE 0.5833% 0.2533% 1.1491% 1.3967% 0.0000% 0.2929%
>
> NUMBER OF LOANS
> 4 2 8 11 0 3
>
> PERCENTAGE OF LOANS
> 0.3630% 0.1815% 0.7260% 0.9982% 0.0000% 0.2722%
>
> GROUP 2 PRINCIPA
>L BALANCE 2,182,576.819,768.94 552,711.41 923,312.83 0.00 663,117.25
>
> PERCENTAGE OF POOL BALA
>NCE 1.2096% 0.4543% 0.3063% 0.5117% 0.0000% 0.3675%
>
> NUMBER OF LOANS
> 21 11 7 14 0 8
>
> PERCENTAGE OF LOANS
> 1.1296% 0.5917% 0.3765% 0.7531% 0.0000% 0.4303%
>
> 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 7
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 107,979.12 584,426.89
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 10.727443% 10.237697%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 214 355
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,109 1,891
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,102 1,859
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 61,385,310.81 183,921,231.76
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 61,154,427.47 180,436,599.48
>
> POOL FACTOR OF LOAN GRO
>UPS 97.770865% 96.185824%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 7 32
>
> SCHEDULE
> PRINCIPAL RECEIVED 90,848.93 88,043.65
>
> PREPAYME
>NTS IN FULL 140,035.17 3,396,590.7
>
> CURTAILM
>ENTS (0.76) (2.16)
>
> 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: 230,883.34 3,484,632.2
>
> SERVICER ADVANCES:
> 70,818.81 253,745.48
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-4 CERTIFICATES 0.00
>
> 3 MONTH ROLLING AVERAGE
> OF PRINCIPAL BALANCE OF ALL LOANS 90 OR MORE DELINQUENT 794,865.83
>
>
> Page 2 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> April 27, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 548,756.17 1,569,108.2
>
> 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: 25,577.21 76,633.85
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 25,577.21 76,633.85
>
> LESS: COMPENSATING IN
>TEREST (12.31) (1,158.73)
>
> LESS: DELINQUENT SER
>VICE FEES: (3,213.99)(12,363.18)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 22,350.91 63,111.94
>
> 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
> 7,592.09 22,747.02
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.12137882 0.12125815
>
> 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 230,883.34 3,484,632.2
>
> TOTAL INTEREST COLLECTE
>D 523,178.96 1,492,474.3
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 754,062.30 4,977,106.6
>
> O/C AMOUNT BEGINNING
> 648,603.21 1,945,087.4
>
> O/C AMOUNT ENDING
> 828,641.94 2,422,838.9
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,312,500.007,687,500.0
>
> EXCESS SPREAD
> 180,038.73 477,751.58
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 180,038.73 477,751.58
>
> SPREAD ACCOUNT BALANCE
>BEGINNING 0.00 3,937,500.0
>
> SPREAD ACCOUNT BALANCE
>ENDING 0.00 3,937,500.0
>
> 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
> 0.00 0.00
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> April 27, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 548,756.17 1,569,108.2
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> (12.31) (1,158.73)
>
> 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 230,883.34 3,484,632.2
>
> TOTAL INTEREST COLLECTE
>D 523,178.96 1,492,474.3
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 754,062.30 4,977,106.6
>
> O/C AMOUNT
> 648,603.21 1,945,087.4
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,312,500.007,687,500.0
>
> EXCESS SPREAD
> 180,038.73 477,751.58
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 180,038.73 477,751.58
>
> 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
>
>
> 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 1997-4
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 24,422,000.00 22,247,785.53 104,058.61 1,526,903.83 1,
>630,962.44 0.00 0.00 20,720,881.70
A2 16,852,000.00 16,852,000.00 91,562.53 0.00
> 91,562.53 0.00 0.00 16,852,000.00
A3 21,226,000.00 21,226,000.00 122,226.38 0.00
>122,226.38 0.00 0.00 21,226,000.00
A4 187,500,000.00 178,013,760.49 846,956.09 4,563,777.19 5,
>410,733.28 0.00 0.00 173,449,983.30
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 250,000,000.00 238,339,546.02 1,164,803.61 6,090,681.02 7,
>255,484.63 0.00 0.00 232,248,865.00
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AW2 910.973120 4.260855 62.521654
> 66.782509 848.451466 5.806250% 5.798440%
A2 743844AX0 1,000.000000 5.433333 0.000000
> 5.433333 1,000.000000 6.520000% 6.520000%
A3 743844AY8 1,000.000000 5.758333 0.000000
> 5.758333 1,000.000000 6.910000% 6.910000%
A4 743844AZ5 949.406723 4.517099 24.340145
> 28.857244 925.066578 5.906250% 5.898440%
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 1997-4
> 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 189,878.4959,471.96 867,915.90 867,795.72 0.00 179,077.23
>
> PERCENTAGE OF POOL BALA
>NCE 0.3174% 0.0994% 1.4508% 1.4506% 0.0000% 0.2993%
>
> NUMBER OF LOANS
> 6 2 11 12 0 3
>
> PERCENTAGE OF LOANS
> 0.5561% 0.1854% 1.0195% 1.1121% 0.0000% 0.2780%
>
> GROUP 2 PRINCIPA
>L BALANCE 2,663,644.1,051,814.1,120,523.121,460,791.03 0.00 1,085,542.0
>
> PERCENTAGE OF POOL BALA
>NCE 1.5094% 0.5960% 0.6350% 0.8278% 0.0000% 0.6151%
>
> NUMBER OF LOANS
> 26 6 15 17 0 10
>
> PERCENTAGE OF LOANS
> 1.4177% 0.3272% 0.8179% 0.9269% 0.0000% 0.5453%
>
> Note: Quantity and Prin
>cipal 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 9
>
> PRINCIPAL BALANCE OF LOA
>NS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 107,909.51 1,006,851.6
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 10.727855% 10.273545%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 213 354
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,102 1,859
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,079 1,834
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 61,154,427.47 180,436,599.48
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 59,822,857.96 176,471,698.58
>
> POOL FACTOR OF LOAN GRO
>UPS 95.642013% 94.072244%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 23 25
>
> SCHEDULE
> PRINCIPAL RECEIVED 110,337.50 85,406.05
>
> PREPAYME
>NTS IN FULL 1,221,232.273,879,495.7
>
> CURTAILM
>ENTS (0.26) (0.86)
>
> 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: 1,331,569.513,964,900.9
>
> SERVICER ADVANCES:
> 71,509.61 265,313.46
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-4 CERTIFICATES 0.00
>
> 3 MONTH ROLLING AVERAGE
> OF PRINCIPAL BALANCE OF ALL LOANS 90 OR MORE DELINQUENT 1,346,690.0
>
>
> Page 2 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> May 26, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 546,713.19 1,544,769.6
>
> 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: 25,481.01 75,181.92
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 25,481.01 75,181.92
>
> LESS: COMPENSATING IN
>TEREST (721.39) (401.57)
>
> LESS: DELINQUENT SER
>VICE FEES: (3,220.43)(12,946.08)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 21,539.19 61,834.27
>
> 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
> 7,540.72 22,251.72
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.12055754 0.11861784
>
> 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 1,331,569.513,964,900.9
>
> TOTAL INTEREST COLLECTE
>D 521,232.18 1,469,587.7
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,852,801.695,434,488.6
>
> O/C AMOUNT BEGINNING
> 828,641.94 2,422,838.9
>
> O/C AMOUNT ENDING
> 1,023,976.263,021,715.2
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,312,500.007,687,500.0
>
> EXCESS SPREAD
> 195,334.32 598,876.29
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 195,334.32 598,876.29
>
> SPREAD ACCOUNT BALANCE
>BEGINNING 0.00 3,937,500.0
>
> SPREAD ACCOUNT BALANCE
>ENDING 0.00 3,937,500.0
>
> 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
> 0.00 0.00
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> May 26, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 546,713.19 1,544,769.6
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> (721.39) (401.57)
>
> 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 1,331,569.513,964,900.9
>
> TOTAL INTEREST COLLECTE
>D 521,232.18 1,469,587.7
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,852,801.695,434,488.6
>
> O/C AMOUNT
> 828,641.94 2,422,838.9
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,312,500.007,687,500.0
>
> EXCESS SPREAD
> 195,334.32 598,876.29
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 195,334.32 598,876.29
>
> 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
>
> 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 1997-4
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 24,422,000.00 20,720,881.70 100,123.99 1,016,236.29 1,
>116,360.28 0.00 0.00 19,704,645.41
A2 16,852,000.00 16,852,000.00 91,562.53 0.00
> 91,562.53 0.00 0.00 16,852,000.00
A3 21,226,000.00 21,226,000.00 122,226.38 0.00
>122,226.38 0.00 0.00 21,226,000.00
A4 187,500,000.00 173,449,983.30 852,570.27 5,214,159.72 6,
>066,729.99 0.00 0.00 168,235,823.58
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 250,000,000.00 232,248,865.00 1,166,483.17 6,230,396.01 7,
>396,879.18 0.00 0.00 226,018,468.99
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AW2 848.451466 4.099746 41.611510
> 45.711255 806.839956 5.798440% 5.806250%
A2 743844AX0 1,000.000000 5.433333 0.000000
> 5.433333 1,000.000000 6.520000% 6.520000%
A3 743844AY8 1,000.000000 5.758333 0.000000
> 5.758333 1,000.000000 6.910000% 6.910000%
A4 743844AZ5 925.066578 4.547041 27.808852
> 32.355893 897.257726 5.898440% 5.906250%
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 1997-4
> 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 807,052.3023,228.17 722,935.20 780,385.11 0.00 141,791.22
>
> PERCENTAGE OF POOL BALA
>NCE 1.3680% 0.0394% 1.2254% 1.3228% 0.0000% 0.2403%
>
> NUMBER OF LOANS
> 12 1 11 12 0 3
>
> PERCENTAGE OF LOANS
> 1.1289% 0.0941% 1.0348% 1.1289% 0.0000% 0.2822%
>
> GROUP 2 PRINCIPA
>L BALANCE 2,103,078.2,306,319.1,390,385.462,040,436.76 0.00 1,030,499.4
>
> PERCENTAGE OF POOL BALA
>NCE 1.2240% 1.3422% 0.8092% 1.1875% 0.0000% 0.5997%
>
> NUMBER OF LOANS
> 22 16 18 23 0 9
>
> PERCENTAGE OF LOANS
> 1.2236% 0.8899% 1.0011% 1.2792% 0.0000% 0.5006%
>
> Note: Quantity and Prin
>cipal 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 3 7
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 141,791.22 652,578.70
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 10.709340% 10.318532%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 212 353
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,079 1,834
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,063 1,798
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 59,822,857.96 176,471,698.58
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 58,993,820.32 171,825,727.59
>
> POOL FACTOR OF LOAN GRO
>UPS 94.316586% 91.595604%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 16 36
>
> SCHEDULE
> PRINCIPAL RECEIVED 79,969.71 208,539.45
>
> PREPAYME
>NTS IN FULL 749,068.43 3,689,887.4
>
> CURTAILM
>ENTS (0.50) (1.20)
>
> NET LIQU
>IDATIONS 0.00 0.00
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 747,545.27
>
> TOTAL PRINCIPAL RECEIVE
>D: 829,037.64 4,645,970.9
>
> SERVICER ADVANCES:
> 100,483.46 296,003.21
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-4 CERTIFICATES 0.00
>
> 3 MONTH ROLLING AVERAGE
> OF PRINCIPAL BALANCE OF ALL LOANS 90 OR MORE DELINQUENT 1,785,730.8
>
>
> Page 2 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> June 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 533,886.12 1,511,113.9
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> REPURCHASE INTEREST
> 0.00 6,326.80
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 24,926.19 73,529.87
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 24,926.19 73,529.87
>
> LESS: COMPENSATING IN
>TEREST (100.44) (1,121.97)
>
> LESS: DELINQUENT SER
>VICE FEES: (4,628.14)(14,452.92)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 20,197.61 57,954.98
>
> 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
> 7,349.86 21,681.25
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.11750616 0.11557682
>
> 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 829,037.64 4,645,970.9
>
> TOTAL INTEREST COLLECTE
>D 508,959.93 1,443,910.8
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,337,997.576,089,881.8
>
> O/C AMOUNT BEGINNING
> 1,023,976.263,021,715.2
>
> O/C AMOUNT ENDING
> 1,211,174.913,589,904.0
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,312,500.007,687,500.0
>
> EXCESS SPREAD
> 187,198.65 568,188.73
>
> EXCESS SPREAD DISTRIBUT
>ABLE 187,198.65 568,188.73
>
> SPREAD ACCOUNT BALANCE
>BEGINNING 0.00 3,937,500.0
>
> SPREAD ACCOUNT BALANCE
>ENDING 0.00 3,937,500.0
>
> 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
> 0.00 0.00
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> June 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 533,886.12 1,511,113.9
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> (100.44) (1,121.97)
>
> 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 829,037.64 4,645,970.9
>
> TOTAL INTEREST COLLECTE
>D 508,959.93 1,443,910.8
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,337,997.576,089,881.8
>
> O/C AMOUNT
> 1,023,976.263,021,715.2
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,312,500.007,687,500.0
>
> EXCESS SPREAD
> 187,198.65 568,188.73
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 187,198.65 568,188.73
>
> 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
>
>
> 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 1997-4
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 24,422,000.00 19,704,645.41 101,697.86 1,883,811.62 1,
>985,509.48 0.00 0.00 17,820,833.79
A2 16,852,000.00 16,852,000.00 91,562.53 0.00
> 91,562.53 0.00 0.00 16,852,000.00
A3 21,226,000.00 21,226,000.00 122,226.38 0.00
>122,226.38 0.00 0.00 21,226,000.00
A4 187,500,000.00 168,235,823.58 883,238.07 4,234,688.37 5,
>117,926.44 0.00 0.00 164,001,135.21
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 250,000,000.00 226,018,468.99 1,198,724.84 6,118,499.99 7,
>317,224.83 0.00 0.00 219,899,969.00
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AW2 806.839956 4.164190 77.135846
> 81.300036 729.704111 5.806250% 5.806250%
A2 743844AX0 1,000.000000 5.433333 0.000000
> 5.433333 1,000.000000 6.520000% 6.520000%
A3 743844AY8 1,000.000000 5.758333 0.000000
> 5.758333 1,000.000000 6.910000% 6.910000%
A4 743844AZ5 897.257726 4.710603 22.585005
> 27.295608 874.672721 5.906250% 5.906250%
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 1997-4
> 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 605,576.79279,936.75 711,153.64 721,093.01 0.00 222,152.56
>
> PERCENTAGE OF POOL BALA
>NCE 1.0585% 0.4893% 1.2430% 1.2604% 0.0000% 0.3883%
>
> NUMBER OF LOANS
> 11 6 11 11 0 6
>
> PERCENTAGE OF LOANS
> 1.0618% 0.5792% 1.0618% 1.0618% 0.0000% 0.5792%
>
> GROUP 2 PRINCIPAl
> BALANCE 1,764,594.1,300,238.3,322,257.032,577,129.17 0.00 1,057,345.3
>
> PERCENTAGE OF POOL BALA
>NCE 1.0493% 0.7732% 1.9755% 1.5324% 0.0000% 0.6287%
>
> NUMBER OF LOANS
> 20 15 28 25 0 10
>
> PERCENTAGE OF LOANS
> 1.1293% 0.8470% 1.5810% 1.4116% 0.0000% 0.5647%
>
> Note: Quantity and Prin
>cipal 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 4 5
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 140,724.96 389,497.18
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 10.693658% 10.348784%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 211 352
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,063 1,798
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,036 1,771
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 58,993,820.32 171,825,727.59
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 57,211,333.79 168,172,177.59
>
> POOL FACTOR OF LOAN GRO
>UPS 91.466829% 89.647996%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 27 27
>
> SCHEDULE
> PRINCIPAL RECEIVED 170,642.12 457,034.90
>
> PREPAYME
>NTS IN FULL 1,339,679.633,196,516.6
>
> CURTAILM
>ENTS (0.70) (1.86)
>
> NET LIQU
>IDATIONS 0.00 0.00
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 272,165.48 0.00
>
> TOTAL PRINCIPAL RECEIVE
>D: 1,782,486.533,653,549.6
>
> SERVICER ADVANCES:
> 82,377.54 289,148.55
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-4 CERTIFICATES 0.00
>
> 3 MONTH ROLLING AVERAGE
> OF PRINCIPAL BALANCE OF ALL LOANS 90 OR MORE DELINQUENT 2,711,723.4
>
>
> Page 2 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> July 27, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 523,278.29 1,481,822.8
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> REPURCHASE INTEREST
> 2,438.15 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 24,580.76 71,594.05
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 24,580.76 71,594.05
>
> LESS: COMPENSATING IN
>TEREST (1,427.39) (3,399.40)
>
> LESS: DELINQUENT SER
>VICE FEES: (3,785.52)(14,113.24)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 19,367.85 54,081.41
>
> 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
> 7,222.83 21,029.48
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.11547526 0.11210242
>
> 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 1,782,486.533,653,549.6
>
> TOTAL INTEREST COLLECTE
>D 501,135.69 1,410,228.7
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,283,622.225,063,778.4
>
> O/C AMOUNT BEGINNING
> 1,211,174.913,589,904.0
>
> O/C AMOUNT ENDING
> 1,312,500.004,171,042.7
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,312,500.007,687,500.0
>
> EXCESS SPREAD
> 177,934.47 504,529.35
>
> EXCESS SPREAD DISTRIBUT
>ABLE 177,934.47 504,529.35
>
> SPREAD ACCOUNT BALANCE
>BEGINNING 0.00 3,937,500.0
>
> SPREAD ACCOUNT BALANCE
>ENDING 0.00 3,937,500.0
>
> 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
> 0.00 0.00
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> July 27, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 523,278.29 1,481,822.8
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> (1,427.39) (3,399.40)
>
> 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 1,782,486.533,653,549.6
>
> TOTAL INTEREST COLLECTE
>D 501,135.69 1,410,228.7
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 2,283,622.225,063,778.4
>
> O/C AMOUNT
> 1,211,174.913,589,904.0
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,312,500.007,687,500.0
>
> EXCESS SPREAD
> 177,934.47 504,529.35
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 177,934.47 504,529.35
>
> 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
>
>
> 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 1997-4
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 24,422,000.00 17,820,833.79 83,352.62 1,256,639.68 1,
>339,992.30 0.00 0.00 16,564,194.11
A2 16,852,000.00 16,852,000.00 91,562.53 0.00
> 91,562.53 0.00 0.00 16,852,000.00
A3 21,226,000.00 21,226,000.00 122,226.38 0.00
>122,226.38 0.00 0.00 21,226,000.00
A4 187,500,000.00 164,001,135.21 780,286.65 5,318,732.72 6,
>099,019.37 0.00 0.00 158,682,402.49
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 250,000,000.00 219,899,969.00 1,077,428.18 6,575,372.40 7,
>652,800.58 0.00 0.00 213,324,596.60
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AW2 729.704111 3.413014 51.455232
> 54.868246 678.248878 5.806250% 5.798440%
A2 743844AX0 1,000.000000 5.433333 0.000000
> 5.433333 1,000.000000 6.520000% 6.520000%
A3 743844AY8 1,000.000000 5.758333 0.000000
> 5.758333 1,000.000000 6.910000% 6.910000%
A4 743844AZ5 874.672721 4.161529 28.366574
> 32.528103 846.306147 5.906250% 5.898440%
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 1997-4
> 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 703,723.91529,376.75 879,311.37 573,064.30 0.00 736,157.67
>
> PERCENTAGE OF POOL BALA
>NCE 1.2577% 0.9461% 1.5715% 1.0242% 0.0000% 1.3156%
>
> NUMBER OF LOANS
> 16 9 14 14 0 11
>
> PERCENTAGE OF LOANS
> 1.5842% 0.8911% 1.3861% 1.3861% 0.0000% 1.0891%
>
> GROUP 2 PRINCIPA
>L BALANCE 1,889,148.1,150,156.4,403,117.323,723,949.88 0.00 1,643,508.0
>
> PERCENTAGE OF POOL BALA
>NCE 1.1546% 0.7030% 2.6912% 2.2761% 0.0000% 1.0045%
>
> NUMBER OF LOANS
> 23 11 40 34 0 16
>
> PERCENTAGE OF LOANS
> 1.3310% 0.6366% 2.3148% 1.9676% 0.0000% 0.9259%
>
> Note: Quantity and Prin
>cipal 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 5 7
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 189,010.15 765,948.63
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 10.671563% 10.356587%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 209 351
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,036 1,771
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 1,010 1,728
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 57,211,333.79 168,172,177.95
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 55,954,694.11 163,612,928.31
>
> POOL FACTOR OF LOAN GRO
>UPS 89.457772% 87.217585%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 26 43
>
> SCHEDULE
> PRINCIPAL RECEIVED 91,455.43 243,958.21
>
> PREPAYME
>NTS IN FULL 1,165,184.594,315,292.8
>
> CURTAILM
>ENTS (0.34) (1.40)
>
> 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: 1,256,639.684,559,249.6
>
> SERVICER ADVANCES:
> 78,944.72 290,814.00
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-4 CERTIFICATES 0.00
>
> 3 MONTH ROLLING AVERAGE
> OF PRINCIPAL BALANCE OF ALL LOANS 90 OR MORE DELINQUENT 3,809,720.0
>
>
> Page 2 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> August 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 508,778.63 1,451,408.1
>
> 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: 23,838.06 70,071.74
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 23,838.06 70,071.74
>
> LESS: COMPENSATING IN
>TEREST (187.54) (2,710.47)
>
> LESS: DELINQUENT SER
>VICE FEES: (3,616.18)(14,174.23)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 20,034.34 53,187.04
>
> 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
> 6,987.35 20,500.14
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.11171051 0.10928065
>
> 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 1,256,639.684,559,249.6
>
> TOTAL INTEREST COLLECTE
>D 484,940.58 1,381,336.3
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,741,580.265,940,586.0
>
> O/C AMOUNT BEGINNING
> 1,312,500.004,171,042.7
>
> O/C AMOUNT ENDING
> 1,312,500.004,930,525.8
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,312,500.007,687,500.0
>
> EXCESS SPREAD
> 180,334.94 579,148.14
>
> EXCESS SPREAD DISTRIBUT
>ABLE 180,334.94 579,148.14
>
> SPREAD ACCOUNT BALANCE
>BEGINNING 0.00 3,937,500.0
>
> SPREAD ACCOUNT BALANCE
>ENDING 0.00 3,937,500.0
>
> 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
> 0.00 0.00
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> August 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 508,778.63 1,451,408.1
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> (187.54) (2,710.47)
>
> 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 1,256,639.684,559,249.6
>
> TOTAL INTEREST COLLECTE
>D 484,940.58 1,381,336.3
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,741,580.265,940,586.0
>
> O/C AMOUNT
> 1,312,500.004,171,042.7
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,312,500.007,687,500.0
>
> EXCESS SPREAD
> 180,334.94 579,148.14
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 180,334.94 579,148.14
>
> 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
>
>
> 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 1997-4
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 24,422,000.00 16,564,194.11 82,706.70 1,078,628.95 1,
>161,335.65 0.00 0.00 15,485,565.16
A2 16,852,000.00 16,852,000.00 91,562.53 0.00
> 91,562.53 0.00 0.00 16,852,000.00
A3 21,226,000.00 21,226,000.00 122,226.38 0.00
>122,226.38 0.00 0.00 21,226,000.00
A4 187,500,000.00 158,682,402.49 805,981.60 5,898,864.31 6,
>704,845.91 0.00 0.00 152,783,538.18
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 250,000,000.00 213,324,596.60 1,102,477.21 6,977,493.26 8,
>079,970.47 0.00 0.00 206,347,103.34
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AW2 678.248878 3.386565 44.166282
> 47.552848 634.082596 5.798440% 5.743750%
A2 743844AX0 1,000.000000 5.433333 0.000000
> 5.433333 1,000.000000 6.520000% 6.520000%
A3 743844AY8 1,000.000000 5.758333 0.000000
> 5.758333 1,000.000000 6.910000% 6.910000%
A4 743844AZ5 846.306147 4.298569 31.460610
> 35.759178 814.845537 5.898440% 5.843750%
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 1997-4
> 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 338,632.94389,320.551,319,579.15 594,426.22 239,346.27 722,149.02
>
> PERCENTAGE OF POOL BALA
>NCE 0.6171% 0.7095% 2.4047% 1.0832% 0.4362% 1.3160%
>
> NUMBER OF LOANS
> 8 8 20 14 2 10
>
> PERCENTAGE OF LOANS
> 0.8081% 0.8081% 2.0202% 1.4141% 0.2020% 1.0101%
>
> GROUP 2 PRINCIPA
>L BALANCE 3,727,808.1,220,355.5,227,280.994,510,677.66
97,593.50 2,083,799.1
>
> PERCENTAGE OF POOL BALA
>NCE 2.3534% 0.7704% 3.3001% 2.8477% 0.0616% 1.3155%
>
> NUMBER OF LOANS
> 39 11 48 41 2 23
>
> PERCENTAGE OF LOANS
> 2.3256% 0.6559% 2.8623% 2.4448% 0.1193% 1.3715%
>
> 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 5 11
>
> PRINCIPAL BALANCE OF LO
>ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 188,784.95
1,063,062.2
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 10.661904% 10.350224%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 208 350
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 1,010 1,728
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 990 1,677
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 55,954,694.11 163,612,928.31
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 54,876,065.16 158,399,949.99
>
> POOL FACTOR OF LOAN GRO
>UPS 87.733310% 84.438688%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 20 51
>
> SCHEDULE
> PRINCIPAL RECEIVED 75,238.64 7,119.12
>
> PREPAYME
>NTS IN FULL 1,003,390.415,205,859.7
>
> CURTAILM
>ENTS (0.10) (0.52)
>
> LIQUIDAT
>IONS 0.00 0.00
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 0.00
>
> TOTAL PRINCIPAL RECEIVE
>D: 1,078,628.955,212,978.3
>
> SERVICER ADVANCES:
> 105,188.89 343,206.01
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-4 CERTIFICATES 0.00
>
> 3 MONTH ROLLING AVERAGE
> OF PRINCIPAL BALANCE OF ALL LOANS 90 OR MORE DELINQUENT 5,287,566.5
>
>
> Page 2 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> September 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 497,152.96 1,411,192.0
>
> 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: 23,314.46 68,172.05
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 23,314.46 68,172.05
>
> LESS: COMPENSATING IN
>TEREST (445.21) (2,822.52)
>
> LESS: DELINQUENT SER
>VICE FEES: (4,891.14)(16,884.62)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 17,978.11 48,464.91
>
> 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
> 6,830.27 19,835.30
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.10919919 0.10573657
>
> 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 1,078,628.955,212,978.3
>
> TOTAL INTEREST COLLECTE
>D 473,838.51 1,343,019.9
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,552,467.466,555,998.3
>
> O/C AMOUNT BEGINNING
> 1,312,500.004,930,525.8
>
> O/C AMOUNT ENDING
> 1,312,500.005,616,411.8
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,312,500.007,687,500.0
>
> EXCESS SPREAD
> 170,046.34 515,839.65
>
> EXCESS SPREAD DISTRIBUT
>ABLE 170,046.34 515,839.65
>
> SPREAD ACCOUNT BALANCE
>BEGINNING 0.00 3,937,500.0
>
> SPREAD ACCOUNT BALANCE
>ENDING 0.00 3,937,500.0
>
> 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
> 0.00 0.00
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> September 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 497,152.96 1,411,192.0
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> (445.21) (2,822.52)
>
> 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 1,078,628.955,212,978.3
>
> TOTAL INTEREST COLLECTE
>D 473,838.51 1,343,019.9
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,552,467.466,555,998.3
>
> O/C AMOUNT
> 1,312,500.004,930,525.8
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,312,500.007,687,500.0
>
> EXCESS SPREAD
> 170,046.34 515,839.65
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 170,046.34 515,839.65
>
> 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
>
>
> 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 1997-4
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 24,422,000.00 15,485,565.16 76,591.71 1,137,612.12 1,
>214,203.83 0.00 0.00 14,347,953.04
A2 16,852,000.00 16,852,000.00 91,562.53 0.00
> 91,562.53 0.00 0.00 16,852,000.00
A3 21,226,000.00 21,226,000.00 122,226.38 0.00
>122,226.38 0.00 0.00 21,226,000.00
A4 187,500,000.00 152,783,538.18 768,824.80 4,115,149.98 4,
>883,974.78 0.00 0.00 148,668,388.20
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 250,000,000.00 206,347,103.34 1,059,205.42 5,252,762.10 6,
>311,967.52 0.00 0.00 201,094,341.24
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AW2 634.082596 3.136177 46.581448
> 49.717625 587.501148 5.743750% 5.369380%
A2 743844AX0 1,000.000000 5.433333 0.000000
> 5.433333 1,000.000000 6.520000% 6.520000%
A3 743844AY8 1,000.000000 5.758333 0.000000
> 5.758333 1,000.000000 6.910000% 6.910000%
A4 743844AZ5 814.845537 4.100399 21.947467
> 26.047866 792.898070 5.843750% 5.469380%
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: September 30, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: October 26, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1998 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> October 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 458,899.8537,254.92 1,640,159.29 716,794.96 239,346.27 854,176.70
>
> PERCENTAGE OF POOL BALA
>NCE 0.8540% 0.0693% 3.0521% 1.3339% 0.4454% 1.5895%
>
> NUMBER OF LOANS
> 10 1 26 16 2 12
>
> PERCENTAGE OF LOANS
> 1.0309% 0.1031% 2.6804% 1.6495% 0.2062% 1.2371%
>
> GROUP 2 PRINCIPA
>L BALANCE 3,093,969.1,307,229.6,228,136.995,788,812.05 97,593.50 2,567,831.6
>
> PERCENTAGE OF POOL BALA
>NCE 1.9966% 0.8436% 4.0191% 3.7356% 0.0630% 1.6571%
>
> NUMBER OF LOANS
> 38 13 58 50 2 29
>
> PERCENTAGE OF LOANS
> 2.3171% 0.7927% 3.5366% 3.0488% 0.1220% 1.7683%
>
> Note: Quantity and Prin
>cipal Balance of Foreclosures, Bankruptcies, & REOs are Included in the Delinq
>
>
> GROUP 1 GROUP 2
>
> BOOK VALUE OF LOANS IN
>REO: 255,256.46 107,349.68
>
> NUMBER OF LOANS IN BANK
>RUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT 7 14
>
> PRINCIPAL BALANCE OF LOA
>NS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 320,829.19 1,289,066.8
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 10.653145% 10.356340%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 208 349
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 990 1,677
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 970 1,640
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 54,876,065.16 158,399,949.99
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 53,738,453.04 154,963,364.20
>
> POOL FACTOR OF LOAN GRO
>UPS 85.914548% 82.606738%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 20 37
>
> SCHEDULE
> PRINCIPAL RECEIVED 75,178.54 77,385.95
>
> PREPAYME
>NTS IN FULL 1,062,412.213,359,005.0
>
> CURTAILM
>ENTS 21.37 194.84
>
> LIQUIDAT
>IONS 0.00 0.00
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 0.00
>
> TOTAL PRINCIPAL RECEIVE
>D: 1,137,612.123,436,585.7
>
> SERVICER ADVANCES:
> 106,761.15 335,665.62
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-4 CERTIFICATES 0.00
>
> 3 MONTH ROLLING AVERAGE
> OF PRINCIPAL BALANCE OF ALL LOANS 90 OR MORE DELINQUENT 6,565,861.7
>
>
> Page 2 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> October 26, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 487,168.92 1,367,036.3
>
> 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: 22,865.03 65,999.98
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 22,865.03 65,999.98
>
> LESS: COMPENSATING IN
>TEREST (859.06) (2,086.13)
>
> LESS: DELINQUENT SER
>VICE FEES: (4,987.08)(16,479.89)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 17,018.89 47,433.96
>
> 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 PAID
> 6,695.45 19,097.94
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.10704375 0.10180590
>
> 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 1,137,612.123,436,585.7
>
> TOTAL INTEREST COLLECTE
>D 464,303.89 1,301,036.4
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,601,916.014,737,622.2
>
> O/C AMOUNT BEGINNING
> 1,312,500.005,616,411.8
>
> O/C AMOUNT ENDING
> 1,312,500.006,294,976.0
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,312,500.007,687,500.0
>
> EXCESS SPREAD
> 166,770.52 511,793.67
>
> EXCESS SPREAD DISTRIBUT
>ABLE 166,770.52 511,793.67
>
> SPREAD ACCOUNT BALANCE
>BEGINNING 0.00 3,937,500.0
>
> SPREAD ACCOUNT BALANCE
>ENDING 0.00 3,937,500.0
>
> 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
> 0.00 0.00
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> October 26, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 487,168.92 1,367,036.3
>
> LIQUIDATION INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> (859.06) (2,086.13)
>
> 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 1,137,612.123,436,585.7
>
> TOTAL INTEREST COLLECTE
>D 464,303.89 1,301,036.4
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,601,916.014,737,622.2
>
> O/C AMOUNT
> 1,312,500.005,616,411.8
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,312,500.007,687,500.0
>
> EXCESS SPREAD
> 166,770.52 511,793.67
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 166,770.52 511,793.67
>
> 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
>
>
> 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 1997-4
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 24,422,000.00 14,347,953.04 64,199.68 1,375,883.17 1,
>440,082.85 0.00 0.00 12,972,069.87
A2 16,852,000.00 16,852,000.00 91,562.53 0.00
> 91,562.53 0.00 0.00 16,852,000.00
A3 21,226,000.00 21,226,000.00 122,226.38 0.00
>122,226.38 0.00 0.00 21,226,000.00
A4 187,500,000.00 148,668,388.20 677,603.26 6,584,360.75 7,
>261,964.01 0.00 0.00 142,084,027.45
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 250,000,000.00 201,094,341.24 955,591.85 7,960,243.92 8,
>915,835.77 0.00 0.00 193,134,097.32
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AW2 587.501148 2.628764 56.337858
> 58.966622 531.163290 5.369380% 5.192340%
A2 743844AX0 1,000.000000 5.433333 0.000000
> 5.433333 1,000.000000 6.520000% 6.520000%
A3 743844AY8 1,000.000000 5.758333 0.000000
> 5.758333 1,000.000000 6.910000% 6.910000%
A4 743844AZ5 792.898070 3.613884 35.116591
> 38.730475 757.781480 5.469380% 5.292340%
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: October 30, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: November 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1998 Bankers Trust Company
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> November 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 360,998.37162,188.821,486,834.12 754,617.26 62,397.63 840,220.15
>
> PERCENTAGE OF POOL BALA
>NCE 0.6894% 0.3097% 2.8395% 1.4411% 0.1192% 1.6046%
>
> NUMBER OF LOANS
> 10 5 26 17 2 12
>
> PERCENTAGE OF LOANS
> 1.0549% 0.5274% 2.7426% 1.7932% 0.2110% 1.2658%
>
> GROUP 2 PRINCIPA
>L BALANCE 3,646,915.1,452,126.6,760,179.675,234,440.64 197,199.87 2,994,488.5
>
> PERCENTAGE OF POOL BALA
>NCE 2.4464% 0.9741% 4.5349% 3.5114% 0.1323% 2.0088%
>
> NUMBER OF LOANS
> 35 19 64 53 3 34
>
> PERCENTAGE OF LOANS
> 2.2040% 1.1965% 4.0302% 3.3375% 0.1889% 2.1411%
>
> Note: Quantity and Prin
>cipal 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 5 15
>
> PRINCIPAL BALANCE OF LOA
>NS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 257,816.79 1,151,957.9
>
> WEIGHTED AVERAGE MORTGA
>GE INTEREST RATE: 10.653218% 10.382006%
>
> WEIGHTED AVERAGE REMAIN
>ING TERM TO MATURITY 207 348
>
> PRIOR NUMBER OF MORTGAG
>E LOANS INCLUDED IN THE POOL 970 1,640
>
> CURRENT NUMBER OF MORTG
>AGE LOANS INCLUDED IN THE POOL 948 1,588
>
> PRIOR AGGREGATE PRINCIP
>AL BALANCE OF THE MORTGAGE LOANS 53,738,453.04 154,963,364.20
>
> CURRENT AGGREGATE PRINC
>IPAL BALANCE OF THE MORTGAGE LOANS 52,362,569.87 149,070,966.44
>
> POOL FACTOR OF LOAN GRO
>UPS 83.714850% 79.465662%
>
> NUMBER OF LOANS SUBJECT
> TO PRINCIPAL PREPAYMENTS 22 52
>
> SCHEDULE
> PRINCIPAL RECEIVED 146,943.27 65,190.43
>
> PREPAYME
>NTS IN FULL 1,038,416.565,293,622.0
>
> CURTAILM
>ENTS (22.93) (197.92)
>
> LIQUIDAT
>IONS 190,546.27 533,783.19
>
> INSURANC
>E PRINCIPAL PROCEEDS 0.00 0.00
>
> REPURCHA
>SED PRINCIPAL AMOUNTS 0.00 0.00
>
> TOTAL PRINCIPAL RECEIVE
>D: 1,375,883.175,892,397.7
>
> SERVICER ADVANCES:
> 104,738.98 345,394.17
>
> CUM NET FUNDS CAP CARRY
>OVER AMOUNT WITH RESPECT TO A-4 CERTIFICATES 0.00
>
> 3 MONTH ROLLING AVERAGE
> OF PRINCIPAL BALANCE OF ALL LOANS 90 OR MORE DELINQUENT 7,554,056.7
>
>
> Page 2 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> November 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 475,429.41 1,336,248.4
>
> LIQUIDATION INTEREST
> 1,643.46 4,443.75
>
> REPURCHASE INTEREST
> 0.00 0.00
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> ACCRUED SERVICING FEE F
>OR THE CURRENT PERIOD: 22,391.02 64,568.07
>
> TOTAL SERVICING FEES DU
>E MASTER SERVICER: 22,391.02 64,568.07
>
> LESS: COMPENSATING IN
>TEREST (325.79) (1,688.54)
>
> LESS: DELINQUENT SER
>VICE FEES: (4,886.75)(16,906.42)
>
> COLLECTED SERVICING FEE
>S FOR CURRENT PERIOD: 17,178.48 45,973.11
>
> 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
> 6,553.24 18,583.55
>
> PER $1,000 OF ORIGINAL
>AMOUNT 0.10477016 0.09906383
>
> 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 1,361,376.295,850,529.4
>
> TOTAL INTEREST COLLECTE
>D 454,681.85 1,276,124.1
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,816,058.147,126,653.6
>
> O/C AMOUNT BEGINNING
> 1,312,500.006,294,976.0
>
> O/C AMOUNT ENDING
> 1,312,500.006,986,938.9
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,312,500.007,687,500.0
>
> EXCESS SPREAD
> 155,185.32 536,777.67
>
> SPREAD ACCOUNT BALANCE
>BEGINNING 0.00 3,937,500.0
>
> SPREAD ACCOUNT BALANCE
>ENDING 0.00 3,937,500.0
>
> NET LIQUIDATION PROCEED
>S 176,039.39 491,914.91
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
> CURRENT NET LOSSES
> 14,506.88 41,868.28
>
> CUMULATIVE NET LOSSES
> 14,506.88 41,868.28
>
> CURRENT NONRECOVERABLE
>ADVANCES 0.00 0.00
>
> CUMULATIVE NONRECOVERAB
>LE ADVANCES 0.00 0.00
>
>
> Page 3 of 3 (c) COPYRIGHT 1998 B
>
> PROVIDENT BANK
> HOME EQUITY LOAN TRUST
>
> SERIES 1997-4
> Statement To Certific
>ateholders
> Distribution Date:
> November 25, 1998
>
> GROUP 1 GROUP 2
>
> SCHEDULED INTEREST
> 475,429.41 1,336,248.4
>
> LIQUIDATION INTEREST
> 1,643.46 4,443.75
>
> STOP ADVANCE INTEREST
> 0.00 0.00
>
> COMPENSATING INTEREST
> (325.79) (1,688.54)
>
> 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 1,361,376.295,850,529.4
>
> TOTAL INTEREST COLLECTE
>D 454,681.85 1,276,124.1
>
> TOTAL AVAILABLE FUNDS F
>OR DISTRIBUTION 1,816,058.147,126,653.6
>
> O/C AMOUNT
> 1,312,500.006,294,976.0
>
> O/C REDUCTION AMOUNT
> 0.00 0.00
>
> EXCESS O/C AMOUNT
> 0.00 0.00
>
> SPECIFIED O/C AMOUNT
> 1,312,500.007,687,500.0
>
> EXCESS SPREAD
> 155,185.32 536,777.67
>
> DISTRIBUTABLE EXCESS SP
>READ DISTRIBUTED TO CLASS A 0.00 0.00
>
> NET LIQUIDATION PROCEED
>S 176,039.39 491,914.91
>
> OUTSTANDING CLASS INTER
>EST CARRYOVER SHORTFALL 0.00 0.00
>
> OUTSTANDING CLASS A PRI
>NCIPAL SHORTFALL AMOUNT 0.00 0.00
>
>
> 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 1997-4
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A1 24,422,000.00 10,854,512.92 48,749.62 1,618,103.99 1,
>666,853.61 0.00 0.00 9,236,408.93
A2 16,852,000.00 16,852,000.00 91,562.53 0.00
> 91,562.53 0.00 0.00 16,852,000.00
A3 21,226,000.00 21,226,000.00 122,226.38 0.00
>122,226.38 0.00 0.00 21,226,000.00
A4 187,500,000.00 135,595,682.45 619,531.55 5,647,479.06 6,
>267,010.61 0.00 0.00 129,948,203.39
R 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 250,000,000.00 184,528,195.37 882,070.08 7,265,583.05 8,
>147,653.13 0.00 0.00 177,262,612.32
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A1 743844AW2 444.456348 1.996135 66.255998
> 68.252134 378.200349 5.774380% 5.089690%
A2 743844AX0 1,000.000000 5.433333 0.000000
> 5.433333 1,000.000000 6.520000% 6.520000%
A3 743844AY8 1,000.000000 5.758333 0.000000
> 5.758333 1,000.000000 6.910000% 6.910000%
A4 743844AZ5 723.176973 3.304168 30.119888
> 33.424057 693.057085 5.874380% 5.189690%
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: December 31, 1998
> Irvine, CA 92714
DISTRIBUTION DATE: January 25, 1999
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1999 Bankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1997-4
Statement To Certificateholders
Distribution Date: January 25, 1999
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 PRINCIPAL BALANCE 388,793.95 83,620.14 1,
>553,129.50 1,180,377.92 62,397.63 576,961.12
PERCENTAGE OF POOL BALANCE 0.7995% 0.1720%
> 3.1940% 2.4274% 0.1283% 1.1865%
NUMBER OF LOANS 9 2
> 29 19 2 12
PERCENTAGE OF LOANS 1.0124% 0.2250%
> 3.2621% 2.1372% 0.2250% 1.3498%
GROUP 2 PRINCIPAL BALANCE 3,134,911.96 780,845.95 8,
>563,164.53 6,861,646.46 197,199.87 3,766,994.26
PERCENTAGE OF POOL BALANCE 2.2777% 0.5673%
> 6.2216% 4.9854% 0.1433% 2.7369%
NUMBER OF LOANS 33 9
> 92 68 3 42
PERCENTAGE OF LOANS 2.2237% 0.6065%
> 6.1995% 4.5822% 0.2022% 2.8302%
Note: Quantity and Principal Balance of Foreclosures, Bankruptcies, & REOs are
> Included in the Delinquency Figures.
> GROUP 1 GROUP 2
BOOK VALUE OF LOANS IN REO:
> 69,489.05 212,380.59
NUMBER OF LOANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUENT
> 5 16
PRINCIPAL BALANCE OF LOANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE
>NT 257,334.71 1,695,493.41
WEIGHTED AVERAGE MORTGAGE INTEREST RATE:
> 10.668099% 10.423911%
WEIGHTED AVERAGE REMAINING TERM TO MATURITY
> 206 346
PRIOR NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL
> 917 1,534
CURRENT NUMBER OF MORTGAGE LOANS INCLUDED IN THE POOL
> 889 1,484
PRIOR AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS
> 50,245,012.92 143,236,699.42
CURRENT AGGREGATE PRINCIPAL BALANCE OF THE MORTGAGE LOANS
> 48,626,908.93 137,635,703.39
POOL FACTOR OF LOAN GROUPS
> 77.742449% 73.369835%
NUMBER OF LOANS SUBJECT TO PRINCIPAL PREPAYMENTS
> 28 50
SCHEDULE PRINCIPAL RECEIVED
> 70,720.15 63,832.08
PREPAYMENTS IN FULL
> 1,547,383.88 5,293,411.76
CURTAILMENTS
> (0.04) (0.28)
LIQUIDATIONS
> 0.00 243,752.47
INSURANCE PRINCIPAL PROCEEDS
> 0.00 0.00
REPURCHASED PRINCIPAL AMOUNTS
> 0.00 0.00
TOTAL PRINCIPAL RECEIVED:
> 1,618,103.99 5,600,996.03
SERVICER ADVANCES:
> 105,242.04 351,659.39
CUM NET FUNDS CAP CARRYOVER AMOUNT WITH RESPECT TO A-4 CERTIFICATES
> 0.00
3 MONTH ROLLING AVERAGE OF PRINCIPAL BALANCE OF ALL LOANS 90 OR MORE DELINQUENT
> 9,026,100.63
Page 2 of 3
> (c) COPYRIGHT 1999 Bankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1997-4
Statement To Certificateholders
Distribution Date: January 25, 1999
> GROUP 1 GROUP 2
SCHEDULED INTEREST
> 446,682.31 1,241,953.64
LIQUIDATION INTEREST
> 0.00 2,285.18
REPURCHASE INTEREST
> 0.00 0.00
STOP ADVANCE INTEREST
> 0.00 0.00
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD:
> 20,935.42 59,681.96
TOTAL SERVICING FEES DUE MASTER SERVICER:
> 20,935.42 59,681.96
LESS: COMPENSATING INTEREST
> (618.88) (2,595.03)
LESS: DELINQUENT SERVICE FEES:
> (4,848.47) (17,192.31)
COLLECTED SERVICING FEES FOR CURRENT PERIOD:
> 15,468.07 39,894.62
AMOUNTS PAID TO CERTIFICATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i
>i)(4) 0.00 0.00
REIMBURSEMENT AMOUNT
> 0.00 0.00
PREMIUM AMOUNT PAID
> 6,116.56 16,949.46
PER $1,000 OF ORIGINAL AMOUNT
> 0.09778873 0.09035294
REIMBURSEMENTS TO MASTER 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 COLLECTED
> 1,618,103.99 5,582,540.26
TOTAL INTEREST COLLECTED
> 425,746.90 1,184,556.86
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION
> 2,043,850.89 6,767,097.12
O/C AMOUNT BEGINNING
> 1,312,500.00 7,641,016.97
O/C AMOUNT ENDING
> 1,312,500.00 7,687,500.00
O/C REDUCTION AMOUNT
> 0.00 0.00
EXCESS O/C AMOUNT
> 0.00 0.00
SPECIFIED O/C AMOUNT
> 1,312,500.00 7,687,500.00
EXCESS SPREAD
> 156,673.10 528,426.44
SPREAD ACCOUNT BALANCE BEGINNING
> 0.00 3,937,500.00
SPREAD ACCOUNT BALANCE ENDING
> 156,673.10 4,419,443.41
NET LIQUIDATION PROCEEDS
> 0.00 225,296.70
OUTSTANDING CLASS INTEREST CARRYOVER SHORTFALL
> 0.00 0.00
OUTSTANDING CLASS A PRINCIPAL SHORTFALL AMOUNT
> 0.00 0.00
CURRENT NET LOSSES
> 0.00 18,455.77
CUMULATIVE NET LOSSES
> 32,084.21 73,740.90
CURRENT NONRECOVERABLE ADVANCES
> 0.00 0.00
CUMULATIVE NONRECOVERABLE ADVANCES
> 0.00 0.00
Page 3 of 3
> (c) COPYRIGHT 1999 Bankers Trust Company
PROVIDENT BANK
HOME EQUITY LOAN TRUST
SERIES 1997-4
Trustee Remittance Report
Distribution Date: January 25, 1999
> GROUP 1 GROUP 2
SCHEDULED INTEREST
> 446,682.31 1,241,953.64
LIQUIDATION INTEREST
> 0.00 2,285.18
STOP ADVANCE INTEREST
> 0.00 0.00
COMPENSATING INTEREST
> (618.88) (2,595.03)
REIMBURSEMENTS TO MASTER 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 COLLECTED
> 1,618,103.99 5,582,540.26
TOTAL INTEREST COLLECTED
> 425,746.90 1,184,556.86
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION
> 2,043,850.89 6,767,097.12
O/C AMOUNT
> 1,312,500.00 7,641,016.97
O/C REDUCTION AMOUNT
> 0.00 0.00
EXCESS O/C AMOUNT
> 0.00 0.00
SPECIFIED O/C AMOUNT
> 1,312,500.00 7,687,500.00
EXCESS SPREAD
> 156,673.10 528,426.44
DISTRIBUTABLE EXCESS SPREAD DISTRIBUTED TO CLASS A
> 0.00 0.00
NET LIQUIDATION PROCEEDS
> 0.00 225,296.70
OUTSTANDING CLASS INTEREST CARRYOVER SHORTFALL
> 0.00 0.00
OUTSTANDING CLASS A PRINCIPAL SHORTFALL AMOUNT
> 0.00 0.00
Page 3 of 3
> (c) COPYRIGHT 1999 Bankers Trust Company