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):
December 28, 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 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 September
1, 1997.
Date: February 23, 1999 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Document
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 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 165,590,000.00 100,888,467.01 482,967.72 5,424,534.18 5,
>907,501.90 0.00 0.00 95,463,932.83
Transfero 0.00 0.00 279,652.86 2,183,614.17 2,
>463,267.03 0.00 0.00 0.00
TOTALS 165,590,000.00 100,888,467.01 762,620.58 7,608,148.35 8,
>370,768.93 0.00 0.00 95,463,932.83
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 609.266665 2.916648 32.758827
> 35.675475 576.507838 5.222340% N/A
Transferor 0.000000 1.688827 13.186872
> 14.875699 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: November 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: December 28, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 2
> (c) COPYRIGHT 1998 Bankers Trust Company
Provident Bank Revolving Home Equity Loan Trust 1997-A
Asset Backed Certificates
Series 1997-A
Statement To Certificateholders
Distribution Date: December 28, 1998
TOTAL SERVICING FEES ACCRUED FOR THE CURRENT PERIOD:
> 44,149.16
TRUSTEE FEES PAYABLE TO THE TRUSTEE FOR THE CURRENT PERIOD:
> 882.98
INSURANCE PREMIUM PAYABLE TO THE CERTIFICATE INSURER FOR THE CURRENT PERIOD:
> 9,248.11
DELINQUENT AND
> LOANS
FORECLOSURE LOAN 30-59
> 60-89 90 + IN
INFORMATION DAYS
> DAYS DAYS TOTAL FORECLOSURE
PRINCIPAL BALANCE 1,415,827.44
> 94,300.21 209,921.92 1,720,049.57 217,233.87
PERCENTAGE OF POOL BALANCE 1.4083%
> 0.0938% 0.2088% 1.7109% 0.2161%
NUMBER OF LOANS 56
> 8 19 83 7
INVESTOR FLOATING ALLOCATION PERCENTAGE
> 91.69%
THE INVESTED AMOUNT
> 97,153,630.99
AGGREGATE BEGINNING POOL BALANCE
> 105,957,981.45
AGGREGATE ENDING POOL BALANCE
> 100,533,447.27
OVERCOLLATERALIZATION AMOUNT
> 1,689,698.16
CREDIT ENHANCEMENT DRAW AMOUNT
> 3,734,836.02
TRANSFEROR NOTIONAL BALANCE
> 3,379,816.28
TRANSFEROR CURRENT PERIOD CERTIFICATE INTEREST
> 63,368.32
AVAILABLE FUNDS REMAINING TO TRANSFEROR FOR CURRENT PERIOD
> 216,284.54
BOOK VALUE OF ANY REO PROPERTY
> 0.00
ACCRUED INVESTOR CERTIFICATE INTEREST SHORTFALL TRACKING :
BE
>G UNPAID LESS : PLUS : ENDING UNPAID
I
>NTEREST CURRENT CURRENT INTEREST
S
>HORTFALL PAYMENT SHORTFALL SHORTFALL
CLASS A
> 0.00 0.00 0.00 0.00
TOTALS :
> 0.00 0.00 0.00 0.00
UNREIMBURSED INVESTOR LOSS REDUCTION AMOUNTS :
BE
>G UNPAID LESS : PLUS : ENDING UNPAID
LOSS
> REDUCTION CURRENT LOSS REDUCTION LOSS REDUCTION
>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 Bankers 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 95,463,932.83 430,973.62 4,239,616.22 4,
>670,589.84 0.00 0.00 91,224,316.61
Transfero 0.00 0.00 322,407.28 3,010,407.14 3,
>332,814.42 0.00 0.00 0.00
TOTALS 165,590,000.00 95,463,932.83 753,380.90 7,250,023.36 8,
>003,404.26 0.00 0.00 91,224,316.61
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 576.507838 2.602655 25.603093
> 28.205748 550.904744 5.804380% N/A
Transferor 0.000000 1.947021 18.179885
> 20.126906 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: December 31, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: January 25, 1999
> FACTOR INFORMATION(800) 735-7777
Page 1 of 2
> (c) COPYRIGHT 1999 Bankers Trust Company
Provident Bank Revolving Home Equity Loan Trust 1997-A
Asset Backed Certificates
Series 1997-A
Statement To Certificateholders
Distribution Date: January 25, 1999
TOTAL SERVICING FEES ACCRUED FOR THE CURRENT PERIOD:
> 41,888.94
TRUSTEE FEES PAYABLE TO THE TRUSTEE FOR THE CURRENT PERIOD:
> 837.78
INSURANCE PREMIUM PAYABLE TO THE CERTIFICATE INSURER FOR THE CURRENT PERIOD:
> 7,424.97
DELINQUENT AND
> LOANS
FORECLOSURE LOAN 30-59
> 60-89 90 + IN
INFORMATION DAYS
> DAYS DAYS TOTAL FORECLOSURE
PRINCIPAL BALANCE 1,535,618.66
>162,830.69 328,313.48 2,026,762.83 217,233.87
PERCENTAGE OF POOL BALANCE 1.5947%
> 0.1691% 0.3409% 2.1048% 0.2256%
NUMBER OF LOANS 55
> 10 18 83 7
INVESTOR FLOATING ALLOCATION PERCENTAGE
> 92.42%
THE INVESTED AMOUNT
> 92,914,014.77
AGGREGATE BEGINNING POOL BALANCE
> 100,533,447.27
AGGREGATE ENDING POOL BALANCE
> 96,293,831.05
OVERCOLLATERALIZATION AMOUNT
> 1,689,698.16
CREDIT ENHANCEMENT DRAW AMOUNT
> 2,549,918.06
TRANSFEROR NOTIONAL BALANCE
> 3,379,816.28
TRANSFEROR CURRENT PERIOD CERTIFICATE INTEREST
> 57,098.76
AVAILABLE FUNDS REMAINING TO TRANSFEROR FOR CURRENT PERIOD
> 265,308.52
BOOK VALUE OF ANY REO PROPERTY
> 0.00
ACCRUED INVESTOR CERTIFICATE INTEREST SHORTFALL TRACKING :
BE
>G UNPAID LESS : PLUS : ENDING UNPAID
I
>NTEREST CURRENT CURRENT INTEREST
S
>HORTFALL PAYMENT SHORTFALL SHORTFALL
CLASS A
> 0.00 0.00 0.00 0.00
TOTALS :
> 0.00 0.00 0.00 0.00
UNREIMBURSED INVESTOR LOSS REDUCTION AMOUNTS :
BE
>G UNPAID LESS : PLUS : ENDING UNPAID
LOSS
> REDUCTION CURRENT LOSS REDUCTION LOSS REDUCTION
>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 1999 Bankers Trust Company