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): August 25, 1998. THE PROVIDENT BANK (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). PROVIDENT BANK HOME EQUITY LOAN TRUST 1998-2 HOME EQUITY LOAN ASSET-BACKED CERTIFICATES, SERIES 1998-2. (Exact name of Registrant as specified in its Charter) OHIO (State or Other Jurisdiction of Incorporation) 333-45369 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 is a copy of the Monthly Remittance Statements to the Certificateholders which was 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 Report to Certificateholders as to distributions made on August 25, 1998. Monthly Report to Certificateholders as to distributions made on September 25, 1998. Monthly Report to Certificateholders as to distributions made on October 26, 1998. Monthly Report to Certificateholders as to distributions made on 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 March 1, 1998. Date: December 22, 1998 By: /s/ Judy L. Gomez Judy L. Gomez Assistant Vice President EXHIBIT INDEX DOCUMENT: Monthly Report to Certificateholders as to distributions made on August 25, 1998. Monthly Report to Certificateholders as to distributions made on September 25, 1998. Monthly Report to Certificateholders as to distributions made on October 26, 1998. Monthly Report to Certificateholders as to distributions made on November 25, 1998. PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1998-2 REVISED Statement To Certificateholders DISTRIBUTIONS IN DOLLARS PRIOR > CURRENT ORIGINAL PRINCIPAL > REALIZED DEFERRED PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL > TOTAL LOSSES INTEREST BALANCE 1 28,439,000.00 28,284,949.18 233,133.91 501,585.19 >734,719.10 0.00 0.00 27,783,363.99 2 12,902,000.00 12,902,000.00 106,342.55 0.00 >106,342.55 0.00 0.00 12,902,000.00 3 13,369,000.00 13,369,000.00 110,191.72 0.00 >110,191.72 0.00 0.00 13,369,000.00 4 10,191,000.00 10,191,000.00 83,997.60 0.00 > 83,997.60 0.00 0.00 10,191,000.00 5 12,571,000.00 12,571,000.00 103,614.34 0.00 >103,614.34 0.00 0.00 12,571,000.00 6 36,512,000.00 35,570,040.96 284,349.94 432,861.55 >717,211.49 0.00 0.00 35,137,179.41 7-1 23,528,000.00 23,528,000.00 193,925.56 0.00 >193,925.56 0.00 0.00 23,528,000.00 7-2 97,488,000.00 97,488,000.00 779,327.38 0.00 >779,327.38 0.00 0.00 97,488,000.00 R1 0.00 0.00 0.00 0.00 > 0.00 0.00 0.00 0.00 TOTALS 235,000,000.00 233,903,990.14 1,894,883.00 934,446.74 2, >829,329.74 0.00 0.00 232,969,543.40 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE > PASS-THROUGH PRIOR > CURRENT RATES PRINCIPAL > PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL > TOTAL BALANCE CURRENT NEXT 1 PB9802101 994.583114 8.197683 17.637230 > 25.834913 976.945884 10.231859% 9.571919% 2 PB9802102 1,000.000000 8.242331 0.000000 > 8.242331 1,000.000000 9.890797% 9.890983% 3 PB9802103 1,000.000000 8.242331 0.000000 > 8.242331 1,000.000000 9.890797% 9.890983% 4 PB9802104 1,000.000000 8.242331 0.000000 > 8.242331 1,000.000000 9.890797% 9.890983% 5 PB9802105 1,000.000000 8.242331 0.000000 > 8.242331 1,000.000000 9.890797% 9.890983% 6 PB9802106 974.201385 7.787849 11.855323 > 19.643172 962.346062 9.923692% 9.591276% 7-1 PB9802107 1,000.000000 8.242331 0.000000 > 8.242331 1,000.000000 9.890797% 9.890983% 7-2 PB9802108 1,000.000000 7.994085 0.000000 > 7.994085 1,000.000000 9.923692% 9.591276% R1 PB9802109 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 5 > COPYRIGHT 1998 Bankers Trust Company PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1998-2 REVISED Statement To Certificateholders DISTRIBUTIONS IN DOLLARS PRIOR > CURRENT ORIGINAL PRINCIPAL > REALIZED DEFERRED PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL > TOTAL LOSSES INTEREST BALANCE A1 28,439,000.00 28,284,949.18 130,017.47 501,585.19 >631,602.66 0.00 0.00 27,783,363.99 A2 12,902,000.00 12,902,000.00 66,445.30 0.00 > 66,445.30 0.00 0.00 12,902,000.00 A3 13,369,000.00 13,369,000.00 69,964.43 0.00 > 69,964.43 0.00 0.00 13,369,000.00 A4 10,191,000.00 10,191,000.00 53,672.60 0.00 > 53,672.60 0.00 0.00 10,191,000.00 A5 12,571,000.00 12,571,000.00 68,092.92 0.00 > 68,092.92 0.00 0.00 12,571,000.00 A6 36,512,000.00 35,570,040.96 165,924.36 432,861.55 >598,785.91 0.00 0.00 35,137,179.41 A-7-1 23,528,000.00 23,528,000.00 110,615.09 0.00 >110,615.09 0.00 0.00 23,528,000.00 A-7-2 97,488,000.00 97,488,000.00 458,332.39 0.00 >458,332.39 0.00 0.00 97,488,000.00 X1 0.00 0.00 332,397.88 0.00 >332,397.88 0.00 0.00 0.00 X2 0.00 0.00 439,420.57 0.00 >439,420.57 0.00 0.00 0.00 R2 0.00 0.00 196.76 0.00 > 196.76 0.00 0.00 0.00 TOTALS 235,000,000.00 233,903,990.14 1,895,079.77 934,446.74 2, >829,526.51 0.00 0.00 232,969,543.40 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE > PASS-THROUGH PRIOR > CURRENT RATES PRINCIPAL > PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL > TOTAL BALANCE CURRENT NEXT A1 743844BG6 994.583114 4.571802 17.637230 > 22.209032 976.945884 5.706250% 5.698440% A2 743844BH4 1,000.000000 5.150000 0.000000 > 5.150000 1,000.000000 6.180000% 6.180000% A3 743844BJ0 1,000.000000 5.233333 0.000000 > 5.233333 1,000.000000 6.280000% 6.280000% A4 743844BK7 1,000.000000 5.266667 0.000000 > 5.266667 1,000.000000 6.320000% 6.320000% A5 743844BL5 1,000.000000 5.416667 0.000000 > 5.416667 1,000.000000 6.500000% 6.500000% A6 743844BM3 974.201385 4.544379 11.855323 > 16.399702 962.346062 5.790690% 0.000000% A-7-1743844BN1 1,000.000000 4.701423 0.000000 > 4.701423 1,000.000000 5.836250% 5.828440% A-7-2743844BN1 1,000.000000 4.701424 0.000000 > 4.701424 1,000.000000 5.836250% 5.828440% X1 PB9802201 0.000000 1.414459 0.000000 > 1.414459 0.000000 3.955315% 3.605062% X2 PB9802202 0.000000 1.869875 0.000000 > 1.869875 0.000000 3.962967% 5.164190% R2 PB9802203 0.000000 0.000837 0.000000 > 0.000837 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 2 of 5 > COPYRIGHT 1998 Bankers Trust Company > PROVIDENT BANK > HOME EQUITY LOAN TRUST > > SERIES 1998-2 > REVISED > 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 344,594.39 0.00 89,677.42 89,677.42 0.00 0.00 > > PERCENTAGE OF POOL BALA >NCE 0.3434% 0.0000% 0.0894% 0.0894% 0.0000% 0.0000% > > NUMBER OF LOANS > 7 0 1 1 0 0 > > PERCENTAGE OF LOANS > 0.4519% 0.0000% 0.0646% 0.0646% 0.0000% 0.0000% > > GROUP 2 PRINCIPA >L BALANCE 431,785.7652,474.10 0.00 52,474.10 0.00 0.00 > > PERCENTAGE OF POOL BALA >NCE 0.3255% 0.0396% 0.0000% 0.0396% 0.0000% 0.0000% > > NUMBER OF LOANS > 7 1 0 1 0 0 > > PERCENTAGE OF LOANS > 0.5247% 0.0750% 0.0000% 0.0750% 0.0000% 0.0000% > > 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: 10.570797% 10.272902% > > WEIGHTED AVERAGE REMAIN >ING TERM TO MATURITY 259 358 > > PRIOR NUMBER OF MORTGAG >E LOANS INCLUDED IN THE POOL 1,556 1,338 > > CURRENT NUMBER OF MORTG >AGE LOANS INCLUDED IN THE POOL 1,549 1,334 > > PRIOR AGGREGATE PRINCIP >AL BALANCE OF THE MORTGAGE LOANS 100,849,480.35 > > CURRENT AGGREGATE PRINC >IPAL BALANCE OF THE MORTGAGE LOANS 100,347,895.16 > > POOL FACTOR OF LOAN GRO >UPS 99.350878% 98.974172% > > NUMBER OF LOANS SUBJECT > TO PRINCIPAL PREPAYMENTS 7 4 > > SCHEDULE > PRINCIPAL RECEIVED 70,348.66 41,485.51 > > PREPAYME >NTS IN FULL 431,237.45 391,376.30 > > CURTAILM >ENTS (0.92) (0.26) > > 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: 501,585.19 432,861.55 > > SERVICER ADVANCES: > 101,493.97 125,673.52 > > CUM NET FUNDS CAP CARRY >OVER AMOUNT WITH RESPECT TO A-6 CERTIFICATES 0.00 > > 3 MONTH ROLLING AVERAGE > OF PRINCIPAL BALANCE OF ALL LOANS 90 OR MORE DELINQUENT 29,892.47 > > > Page 3 of 5 COPYRIGHT 1998 B > > PROVIDENT BANK > HOME EQUITY LOAN TRUST > > SERIES 1998-2 > REVISED > Statement To Certific >ateholders > Distribution Date: > August 25, 1998 > > GROUP 1 GROUP 2 > > SCHEDULED INTEREST > 888,382.84 1,139,252.7 > > 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: 42,020.62 55,449.41 > > TOTAL SERVICING FEES DU >E MASTER SERVICER: 42,020.62 55,449.41 > > LESS: COMPENSATING IN >TEREST 0.00 (69.90) > > LESS: DELINQUENT SER >VICE FEES: (4,814.03) (6,200.57) > > COLLECTED SERVICING FEE >S FOR CURRENT PERIOD: 37,206.59 49,178.94 > > AMOUNTS PAID TO CERTIFI >CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 18,849.89 > > REIMBURSEMENT AMOUNT > 0.00 0.00 > > PREMIUM AMOUNT PAID > 14,286.51 18,849.89 > > PER $1,000 OF ORIGINAL >AMOUNT 0.14144565 0.14064926 > > 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 501,585.19 432,861.55 > > TOTAL INTEREST COLLECTE >D 846,362.22 1,083,803.3 > > TOTAL AVAILABLE FUNDS F >OR DISTRIBUTION 1,347,947.411,516,664.9 > > BASE SPREAD ACCOUNT REQ >UIREMENT 9,595,000.00 > > SPREAD ACCOUNT BALANCE >BEGINNING 9,595,000.00 > > SPREAD ACCOUNT BALANCE >ENDING 9,595,000.00 > > 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 4 of 5 COPYRIGHT 1998 B > > PROVIDENT BANK > HOME EQUITY LOAN TRUST > > SERIES 1998-2 > REVISED > Statement To Certific >ateholders > Distribution Date: > August 25, 1998 > > GROUP 1 GROUP 2 > > SCHEDULED INTEREST > 888,382.84 1,139,252.7 > > LIQUIDATION INTEREST > 0.00 0.00 > > STOP ADVANCE INTEREST > 0.00 0.00 > > COMPENSATING INTEREST > 0.00 (69.90) > > 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 501,585.19 432,861.55 > > TOTAL INTEREST COLLECTE >D 846,362.22 1,083,803.3 > > TOTAL AVAILABLE FUNDS F >OR DISTRIBUTION 1,347,947.411,516,664.9 > > O/C AMOUNT > 3,531.17 20,543.55 > > OUTSTANDING CLASS INTER >EST CARRYOVER SHORTFALL 0.00 0.00 > > OUTSTANDING CLASS A PRI >NCIPAL SHORTFALL AMOUNT 0.00 0.00 > > > Page 5 of 5 COPYRIGHT 1998 B > uency Figures. ankers Trust Company ankers Trust Company ankers Trust Company PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1998-2 Statement To Certificateholders DISTRIBUTIONS IN DOLLARS PRIOR > CURRENT ORIGINAL PRINCIPAL > REALIZED DEFERRED PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL > TOTAL LOSSES INTEREST BALANCE 1 28,439,000.00 27,783,363.99 229,003.99 852,628.82 1, >081,632.81 0.00 0.00 26,930,735.17 2 12,902,000.00 12,902,000.00 106,344.55 0.00 >106,344.55 0.00 0.00 12,902,000.00 3 13,369,000.00 13,369,000.00 110,193.80 0.00 >110,193.80 0.00 0.00 13,369,000.00 4 10,191,000.00 10,191,000.00 83,999.17 0.00 > 83,999.17 0.00 0.00 10,191,000.00 5 12,571,000.00 12,571,000.00 103,616.29 0.00 >103,616.29 0.00 0.00 12,571,000.00 6 36,512,000.00 35,137,179.41 280,978.92 1,429,720.56 1, >710,699.48 0.00 0.00 33,707,458.85 7-1 23,528,000.00 23,528,000.00 193,929.21 0.00 >193,929.21 0.00 0.00 23,528,000.00 7-2 97,488,000.00 97,488,000.00 779,575.19 0.00 >779,575.19 0.00 0.00 97,488,000.00 R1 0.00 0.00 0.00 0.00 > 0.00 0.00 0.00 0.00 TOTALS 235,000,000.00 232,969,543.40 1,887,641.12 2,282,349.38 4, >169,990.50 0.00 0.00 230,687,194.02 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE > PASS-THROUGH PRIOR > CURRENT RATES PRINCIPAL > PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL > TOTAL BALANCE CURRENT NEXT 1 PB9802101 976.945884 8.052463 29.980970 > 38.033433 946.964913 9.571919% 9.567751% 2 PB9802102 1,000.000000 8.242486 0.000000 > 8.242486 1,000.000000 9.890983% 9.886676% 3 PB9802103 1,000.000000 8.242486 0.000000 > 8.242486 1,000.000000 9.890983% 9.886676% 4 PB9802104 1,000.000000 8.242486 0.000000 > 8.242486 1,000.000000 9.890983% 9.886676% 5 PB9802105 1,000.000000 8.242486 0.000000 > 8.242486 1,000.000000 9.890983% 9.886676% 6 PB9802106 962.346062 7.695523 39.157553 > 46.853075 923.188509 9.286406% 9.595777% 7-1 PB9802107 1,000.000000 8.242486 0.000000 > 8.242486 1,000.000000 9.890983% 9.886676% 7-2 PB9802108 1,000.000000 7.996627 0.000000 > 7.996627 1,000.000000 9.286406% 9.595777% R1 PB9802109 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 5 > COPYRIGHT 1998 Bankers Trust Company PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1998-2 Statement To Certificateholders DISTRIBUTIONS IN DOLLARS PRIOR > CURRENT ORIGINAL PRINCIPAL > REALIZED DEFERRED PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL > TOTAL LOSSES INTEREST BALANCE A1 28,439,000.00 27,783,363.99 136,332.69 852,628.82 >988,961.51 0.00 0.00 26,930,735.17 A2 12,902,000.00 12,902,000.00 66,445.30 0.00 > 66,445.30 0.00 0.00 12,902,000.00 A3 13,369,000.00 13,369,000.00 69,964.43 0.00 > 69,964.43 0.00 0.00 13,369,000.00 A4 10,191,000.00 10,191,000.00 53,672.60 0.00 > 53,672.60 0.00 0.00 10,191,000.00 A5 12,571,000.00 12,571,000.00 68,092.92 0.00 > 68,092.92 0.00 0.00 12,571,000.00 A6 36,512,000.00 35,137,179.41 173,704.55 1,429,720.56 1, >603,425.11 0.00 0.00 33,707,458.85 A-7-1 23,528,000.00 23,528,000.00 118,085.49 0.00 >118,085.49 0.00 0.00 23,528,000.00 A-7-2 97,488,000.00 97,488,000.00 489,285.88 0.00 >489,285.88 0.00 0.00 97,488,000.00 X1 0.00 0.00 314,493.56 0.00 >314,493.56 0.00 0.00 0.00 X2 0.00 0.00 397,563.69 0.00 >397,563.69 0.00 0.00 0.00 R2 0.00 0.00 196.83 0.00 > 196.83 0.00 0.00 0.00 **This statement is also available on Bankers Trust's Website, www.online.banke >rstrust.com/invr/. We begin posting statements to the Web at 7:00 p.m. Eastern > Time on the business day before each distribution date. TOTALS 235,000,000.00 232,969,543.40 1,887,837.94 2,282,349.38 4, >170,187.32 0.00 0.00 230,687,194.02 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE > PASS-THROUGH PRIOR > CURRENT RATES PRINCIPAL > PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL > TOTAL BALANCE CURRENT NEXT A1 743844BG6 976.945884 4.793864 29.980970 > 34.774834 946.964913 5.698440% 5.643750% A2 743844BH4 1,000.000000 5.150000 0.000000 > 5.150000 1,000.000000 6.180000% 6.180000% A3 743844BJ0 1,000.000000 5.233333 0.000000 > 5.233333 1,000.000000 6.280000% 6.280000% A4 743844BK7 1,000.000000 5.266667 0.000000 > 5.266667 1,000.000000 6.320000% 6.320000% A5 743844BL5 1,000.000000 5.416667 0.000000 > 5.416667 1,000.000000 6.500000% 6.500000% A6 743844BM3 962.346062 4.757465 39.157553 > 43.915017 923.188509 5.740968% 0.000000% A-7-1743844BN1 1,000.000000 5.018934 0.000000 > 5.018934 1,000.000000 5.828440% 5.773750% A-7-2743844BN1 1,000.000000 5.018934 0.000000 > 5.018934 1,000.000000 5.828440% 5.773750% X1 PB9802201 0.000000 1.338270 0.000000 > 1.338270 0.000000 3.760972% 3.626078% X2 PB9802202 0.000000 1.691760 0.000000 > 1.691760 0.000000 3.597178% 5.162439% R2 PB9802203 0.000000 0.000838 0.000000 > 0.000838 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 2 of 5 > COPYRIGHT 1998 Bankers Trust Company > PROVIDENT BANK > HOME EQUITY LOAN TRUST > > SERIES 1998-2 > 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 430,599.0263,723.27 89,677.42 89,677.42 0.00 78,920.70 > > PERCENTAGE OF POOL BALA >NCE 0.4328% 0.0640% 0.0901% 0.0901% 0.0000% 0.0793% > > NUMBER OF LOANS > 8 1 1 1 0 2 > > PERCENTAGE OF LOANS > 0.5198% 0.0650% 0.0650% 0.0650% 0.0000% 0.1300% > > GROUP 2 PRINCIPA >L BALANCE 1,263,389.355,510.55 52,474.10 52,474.10 0.00 19,992.47 > > PERCENTAGE OF POOL BALA >NCE 0.9628% 0.2709% 0.0400% 0.0400% 0.0000% 0.0152% > > NUMBER OF LOANS > 13 5 1 1 0 1 > > PERCENTAGE OF LOANS > 0.9826% 0.3779% 0.0756% 0.0756% 0.0000% 0.0756% > > 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 1 > > PRINCIPAL BALANCE OF LO >ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 78,920.70 19,992.47 > > WEIGHTED AVERAGE MORTGA >GE INTEREST RATE: 10.570983% 10.275953% > > WEIGHTED AVERAGE REMAIN >ING TERM TO MATURITY 258 357 > > PRIOR NUMBER OF MORTGAG >E LOANS INCLUDED IN THE POOL 1,549 1,334 > > CURRENT NUMBER OF MORTG >AGE LOANS INCLUDED IN THE POOL 1,539 1,323 > > PRIOR AGGREGATE PRINCIP >AL BALANCE OF THE MORTGAGE LOANS 1,526 1,310 > > CURRENT AGGREGATE PRINC >IPAL BALANCE OF THE MORTGAGE LOANS 99,495,266.34 > > POOL FACTOR OF LOAN GRO >UPS 98.506721% 97.907380% > > NUMBER OF LOANS SUBJECT > TO PRINCIPAL PREPAYMENTS 10 11 > > SCHEDULE > PRINCIPAL RECEIVED 104,477.35 63,980.12 > > PREPAYME >NTS IN FULL 748,151.85 1,365,741.2 > > CURTAILM >ENTS (0.38) (0.76) > > 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: 852,628.82 1,429,720.5 > > SERVICER ADVANCES: > 107,026.47 153,896.26 > > CUM NET FUNDS CAP CARRY >OVER AMOUNT WITH RESPECT TO A-6 CERTIFICATES 0.00 > > 3 MONTH ROLLING AVERAGE > OF PRINCIPAL BALANCE OF ALL LOANS 90 OR MORE DELINQUENT 77,276.31 > > > Page 3 of 5 COPYRIGHT 1998 B > > PROVIDENT BANK > HOME EQUITY LOAN TRUST > > SERIES 1998-2 > Statement To Certific >ateholders > Distribution Date: > September 25, 1998 > > GROUP 1 GROUP 2 > > SCHEDULED INTEREST > 883,979.93 1,135,884.3 > > 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: 41,811.62 55,269.05 > > TOTAL SERVICING FEES DU >E MASTER SERVICER: 41,811.62 55,269.05 > > LESS: COMPENSATING IN >TEREST (664.32) (795.54) > > LESS: DELINQUENT SER >VICE FEES: (5,042.88) (7,525.47) > > COLLECTED SERVICING FEE >S FOR CURRENT PERIOD: 36,104.42 46,948.04 > > AMOUNTS PAID TO CERTIFI >CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 18,788.57 > > REIMBURSEMENT AMOUNT > 0.00 0.00 > > PREMIUM AMOUNT PAID > 14,215.45 18,788.57 > > PER $1,000 OF ORIGINAL >AMOUNT 0.14074211 0.14019172 > > 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 852,628.82 1,429,720.5 > > TOTAL INTEREST COLLECTE >D 842,168.31 1,080,615.2 > > TOTAL AVAILABLE FUNDS F >OR DISTRIBUTION 1,694,797.132,510,335.8 > > BASE SPREAD ACCOUNT REQ >UIREMENT 9,595,000.00 > > SPREAD ACCOUNT BALANCE >BEGINNING 9,595,000.00 > > SPREAD ACCOUNT BALANCE >ENDING 9,595,000.00 > > 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 4 of 5 COPYRIGHT 1998 B > > PROVIDENT BANK > HOME EQUITY LOAN TRUST > > SERIES 1998-2 > Statement To Certific >ateholders > Distribution Date: > September 25, 1998 > > GROUP 1 GROUP 2 > > SCHEDULED INTEREST > 883,979.93 1,135,884.3 > > LIQUIDATION INTEREST > 0.00 0.00 > > STOP ADVANCE INTEREST > 0.00 0.00 > > COMPENSATING INTEREST > (664.32) (795.54) > > 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 852,628.82 1,429,720.5 > > TOTAL INTEREST COLLECTE >D 842,168.31 1,080,615.2 > > TOTAL AVAILABLE FUNDS F >OR DISTRIBUTION 1,694,797.132,510,335.8 > > O/C AMOUNT > 3,531.17 20,543.55 > > OUTSTANDING CLASS INTER >EST CARRYOVER SHORTFALL 0.00 0.00 > > OUTSTANDING CLASS A PRI >NCIPAL SHORTFALL AMOUNT 0.00 0.00 > > > Page 5 of 5 COPYRIGHT 1998 B > uency Figures. ankers Trust Company ankers Trust Company ankers Trust Company PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1998-2 Statement To Certificateholders DISTRIBUTIONS IN DOLLARS PRIOR > CURRENT ORIGINAL PRINCIPAL > REALIZED DEFERRED PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL > TOTAL LOSSES INTEREST BALANCE 1 28,439,000.00 27,783,363.99 229,003.99 852,628.82 1, >081,632.81 0.00 0.00 26,930,735.17 2 12,902,000.00 12,902,000.00 106,344.55 0.00 >106,344.55 0.00 0.00 12,902,000.00 3 13,369,000.00 13,369,000.00 110,193.80 0.00 >110,193.80 0.00 0.00 13,369,000.00 4 10,191,000.00 10,191,000.00 83,999.17 0.00 > 83,999.17 0.00 0.00 10,191,000.00 5 12,571,000.00 12,571,000.00 103,616.29 0.00 >103,616.29 0.00 0.00 12,571,000.00 6 36,512,000.00 35,137,179.41 280,978.92 1,429,720.56 1, >710,699.48 0.00 0.00 33,707,458.85 7-1 23,528,000.00 23,528,000.00 193,929.21 0.00 >193,929.21 0.00 0.00 23,528,000.00 7-2 97,488,000.00 97,488,000.00 779,575.19 0.00 >779,575.19 0.00 0.00 97,488,000.00 R1 0.00 0.00 0.00 0.00 > 0.00 0.00 0.00 0.00 TOTALS 235,000,000.00 232,969,543.40 1,887,641.12 2,282,349.38 4, >169,990.50 0.00 0.00 230,687,194.02 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE > PASS-THROUGH PRIOR > CURRENT RATES PRINCIPAL > PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL > TOTAL BALANCE CURRENT NEXT 1 PB9802101 976.945884 8.052463 29.980970 > 38.033433 946.964913 9.571919% 9.567751% 2 PB9802102 1,000.000000 8.242486 0.000000 > 8.242486 1,000.000000 9.890983% 9.886676% 3 PB9802103 1,000.000000 8.242486 0.000000 > 8.242486 1,000.000000 9.890983% 9.886676% 4 PB9802104 1,000.000000 8.242486 0.000000 > 8.242486 1,000.000000 9.890983% 9.886676% 5 PB9802105 1,000.000000 8.242486 0.000000 > 8.242486 1,000.000000 9.890983% 9.886676% 6 PB9802106 962.346062 7.695523 39.157553 > 46.853075 923.188509 9.286406% 9.595777% 7-1 PB9802107 1,000.000000 8.242486 0.000000 > 8.242486 1,000.000000 9.890983% 9.886676% 7-2 PB9802108 1,000.000000 7.996627 0.000000 > 7.996627 1,000.000000 9.286406% 9.595777% R1 PB9802109 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 5 > COPYRIGHT 1998 Bankers Trust Company PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1998-2 Statement To Certificateholders DISTRIBUTIONS IN DOLLARS PRIOR > CURRENT ORIGINAL PRINCIPAL > REALIZED DEFERRED PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL > TOTAL LOSSES INTEREST BALANCE A1 28,439,000.00 27,783,363.99 136,332.69 852,628.82 >988,961.51 0.00 0.00 26,930,735.17 A2 12,902,000.00 12,902,000.00 66,445.30 0.00 > 66,445.30 0.00 0.00 12,902,000.00 A3 13,369,000.00 13,369,000.00 69,964.43 0.00 > 69,964.43 0.00 0.00 13,369,000.00 A4 10,191,000.00 10,191,000.00 53,672.60 0.00 > 53,672.60 0.00 0.00 10,191,000.00 A5 12,571,000.00 12,571,000.00 68,092.92 0.00 > 68,092.92 0.00 0.00 12,571,000.00 A6 36,512,000.00 35,137,179.41 173,704.55 1,429,720.56 1, >603,425.11 0.00 0.00 33,707,458.85 A-7-1 23,528,000.00 23,528,000.00 118,085.49 0.00 >118,085.49 0.00 0.00 23,528,000.00 A-7-2 97,488,000.00 97,488,000.00 489,285.88 0.00 >489,285.88 0.00 0.00 97,488,000.00 X1 0.00 0.00 314,493.56 0.00 >314,493.56 0.00 0.00 0.00 X2 0.00 0.00 397,563.69 0.00 >397,563.69 0.00 0.00 0.00 R2 0.00 0.00 196.83 0.00 > 196.83 0.00 0.00 0.00 **This statement is also available on Bankers Trust's Website, www.online.banke >rstrust.com/invr/. We begin posting statements to the Web at 7:00 p.m. Eastern > Time on the business day before each distribution date. TOTALS 235,000,000.00 232,969,543.40 1,887,837.94 2,282,349.38 4, >170,187.32 0.00 0.00 230,687,194.02 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE > PASS-THROUGH PRIOR > CURRENT RATES PRINCIPAL > PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL > TOTAL BALANCE CURRENT NEXT A1 743844BG6 976.945884 4.793864 29.980970 > 34.774834 946.964913 5.698440% 5.643750% A2 743844BH4 1,000.000000 5.150000 0.000000 > 5.150000 1,000.000000 6.180000% 6.180000% A3 743844BJ0 1,000.000000 5.233333 0.000000 > 5.233333 1,000.000000 6.280000% 6.280000% A4 743844BK7 1,000.000000 5.266667 0.000000 > 5.266667 1,000.000000 6.320000% 6.320000% A5 743844BL5 1,000.000000 5.416667 0.000000 > 5.416667 1,000.000000 6.500000% 6.500000% A6 743844BM3 962.346062 4.757465 39.157553 > 43.915017 923.188509 5.740968% 0.000000% A-7-1743844BN1 1,000.000000 5.018934 0.000000 > 5.018934 1,000.000000 5.828440% 5.773750% A-7-2743844BN1 1,000.000000 5.018934 0.000000 > 5.018934 1,000.000000 5.828440% 5.773750% X1 PB9802201 0.000000 1.338270 0.000000 > 1.338270 0.000000 3.760972% 3.626078% X2 PB9802202 0.000000 1.691760 0.000000 > 1.691760 0.000000 3.597178% 5.162439% R2 PB9802203 0.000000 0.000838 0.000000 > 0.000838 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 2 of 5 > COPYRIGHT 1998 Bankers Trust Company > PROVIDENT BANK > HOME EQUITY LOAN TRUST > > SERIES 1998-2 > 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 430,599.0263,723.27 89,677.42 89,677.42 0.00 78,920.70 > > PERCENTAGE OF POOL BALA >NCE 0.4328% 0.0640% 0.0901% 0.0901% 0.0000% 0.0793% > > NUMBER OF LOANS > 8 1 1 1 0 2 > > PERCENTAGE OF LOANS > 0.5198% 0.0650% 0.0650% 0.0650% 0.0000% 0.1300% > > GROUP 2 PRINCIPA >L BALANCE 1,263,389.355,510.55 52,474.10 52,474.10 0.00 19,992.47 > > PERCENTAGE OF POOL BALA >NCE 0.9628% 0.2709% 0.0400% 0.0400% 0.0000% 0.0152% > > NUMBER OF LOANS > 13 5 1 1 0 1 > > PERCENTAGE OF LOANS > 0.9826% 0.3779% 0.0756% 0.0756% 0.0000% 0.0756% > > 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 1 > > PRINCIPAL BALANCE OF LO >ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 78,920.70 19,992.47 > > WEIGHTED AVERAGE MORTGA >GE INTEREST RATE: 10.570983% 10.275953% > > WEIGHTED AVERAGE REMAIN >ING TERM TO MATURITY 258 357 > > PRIOR NUMBER OF MORTGAG >E LOANS INCLUDED IN THE POOL 1,549 1,334 > > CURRENT NUMBER OF MORTG >AGE LOANS INCLUDED IN THE POOL 1,539 1,323 > > PRIOR AGGREGATE PRINCIP >AL BALANCE OF THE MORTGAGE LOANS 1,526 1,310 > > CURRENT AGGREGATE PRINC >IPAL BALANCE OF THE MORTGAGE LOANS 99,495,266.34 > > POOL FACTOR OF LOAN GRO >UPS 98.506721% 97.907380% > > NUMBER OF LOANS SUBJECT > TO PRINCIPAL PREPAYMENTS 10 11 > > SCHEDULE > PRINCIPAL RECEIVED 104,477.35 63,980.12 > > PREPAYME >NTS IN FULL 748,151.85 1,365,741.2 > > CURTAILM >ENTS (0.38) (0.76) > > 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: 852,628.82 1,429,720.5 > > SERVICER ADVANCES: > 107,026.47 153,896.26 > > CUM NET FUNDS CAP CARRY >OVER AMOUNT WITH RESPECT TO A-6 CERTIFICATES 0.00 > > 3 MONTH ROLLING AVERAGE > OF PRINCIPAL BALANCE OF ALL LOANS 90 OR MORE DELINQUENT 77,276.31 > > > Page 3 of 5 COPYRIGHT 1998 B > > PROVIDENT BANK > HOME EQUITY LOAN TRUST > > SERIES 1998-2 > Statement To Certific >ateholders > Distribution Date: > September 25, 1998 > > GROUP 1 GROUP 2 > > SCHEDULED INTEREST > 883,979.93 1,135,884.3 > > 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: 41,811.62 55,269.05 > > TOTAL SERVICING FEES DU >E MASTER SERVICER: 41,811.62 55,269.05 > > LESS: COMPENSATING IN >TEREST (664.32) (795.54) > > LESS: DELINQUENT SER >VICE FEES: (5,042.88) (7,525.47) > > COLLECTED SERVICING FEE >S FOR CURRENT PERIOD: 36,104.42 46,948.04 > > AMOUNTS PAID TO CERTIFI >CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 18,788.57 > > REIMBURSEMENT AMOUNT > 0.00 0.00 > > PREMIUM AMOUNT PAID > 14,215.45 18,788.57 > > PER $1,000 OF ORIGINAL >AMOUNT 0.14074211 0.14019172 > > 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 852,628.82 1,429,720.5 > > TOTAL INTEREST COLLECTE >D 842,168.31 1,080,615.2 > > TOTAL AVAILABLE FUNDS F >OR DISTRIBUTION 1,694,797.132,510,335.8 > > BASE SPREAD ACCOUNT REQ >UIREMENT 9,595,000.00 > > SPREAD ACCOUNT BALANCE >BEGINNING 9,595,000.00 > > SPREAD ACCOUNT BALANCE >ENDING 9,595,000.00 > > 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 4 of 5 COPYRIGHT 1998 B > > PROVIDENT BANK > HOME EQUITY LOAN TRUST > > SERIES 1998-2 > Statement To Certific >ateholders > Distribution Date: > September 25, 1998 > > GROUP 1 GROUP 2 > > SCHEDULED INTEREST > 883,979.93 1,135,884.3 > > LIQUIDATION INTEREST > 0.00 0.00 > > STOP ADVANCE INTEREST > 0.00 0.00 > > COMPENSATING INTEREST > (664.32) (795.54) > > 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 852,628.82 1,429,720.5 > > TOTAL INTEREST COLLECTE >D 842,168.31 1,080,615.2 > > TOTAL AVAILABLE FUNDS F >OR DISTRIBUTION 1,694,797.132,510,335.8 > > O/C AMOUNT > 3,531.17 20,543.55 > > OUTSTANDING CLASS INTER >EST CARRYOVER SHORTFALL 0.00 0.00 > > OUTSTANDING CLASS A PRI >NCIPAL SHORTFALL AMOUNT 0.00 0.00 > > > Page 5 of 5 COPYRIGHT 1998 B > uency Figures. ankers Trust Company ankers Trust Company ankers Trust Company PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1998-2 Statement To Certificateholders DISTRIBUTIONS IN DOLLARS PRIOR > CURRENT ORIGINAL PRINCIPAL > REALIZED DEFERRED PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL > TOTAL LOSSES INTEREST BALANCE 1 28,439,000.00 25,693,021.13 211,803.75 1,513,739.75 1, >725,543.50 0.00 0.00 24,179,281.38 2 12,902,000.00 12,902,000.00 106,359.31 0.00 >106,359.31 0.00 0.00 12,902,000.00 3 13,369,000.00 13,369,000.00 110,209.08 0.00 >110,209.08 0.00 0.00 13,369,000.00 4 10,191,000.00 10,191,000.00 84,010.83 0.00 > 84,010.83 0.00 0.00 10,191,000.00 5 12,571,000.00 12,571,000.00 103,630.67 0.00 >103,630.67 0.00 0.00 12,571,000.00 6 36,512,000.00 32,052,960.04 256,810.15 3,045,509.07 3, >302,319.22 0.00 0.00 29,007,450.97 7-1 23,528,000.00 23,528,000.00 193,956.12 0.00 >193,956.12 0.00 0.00 23,528,000.00 7-2 97,488,000.00 97,488,000.00 781,079.44 0.00 >781,079.44 0.00 0.00 97,488,000.00 R1 0.00 0.00 0.00 0.00 > 0.00 0.00 0.00 0.00 TOTALS 235,000,000.00 227,794,981.17 1,847,859.35 4,559,248.82 6, >407,108.17 0.00 0.00 223,235,732.35 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE > PASS-THROUGH PRIOR > CURRENT RATES PRINCIPAL > PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL > TOTAL BALANCE CURRENT NEXT 1 PB9802101 903.443199 7.447651 53.227601 > 60.675252 850.215598 9.892355% 8.991423% 2 PB9802102 1,000.000000 8.243630 0.000000 > 8.243630 1,000.000000 9.892355% 9.890565% 3 PB9802103 1,000.000000 8.243629 0.000000 > 8.243629 1,000.000000 9.892355% 9.890565% 4 PB9802104 1,000.000000 8.243630 0.000000 > 8.243630 1,000.000000 9.892355% 9.890565% 5 PB9802105 1,000.000000 8.243630 0.000000 > 8.243630 1,000.000000 9.892355% 9.890565% 6 PB9802106 877.874672 7.033582 83.411182 > 90.444764 794.463491 9.614469% 9.616935% 7-1 PB9802107 1,000.000000 8.243630 0.000000 > 8.243630 1,000.000000 9.892355% 9.890565% 7-2 PB9802108 1,000.000000 8.012057 0.000000 > 8.012057 1,000.000000 9.614469% 9.616935% R1 PB9802109 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 5 > COPYRIGHT 1998 Bankers Trust Company PROVIDENT BANK HOME EQUITY LOAN TRUST SERIES 1998-2 Statement To Certificateholders DISTRIBUTIONS IN DOLLARS PRIOR > CURRENT ORIGINAL PRINCIPAL > REALIZED DEFERRED PRINCIPAL CLASS FACE VALUE BALANCE INTEREST PRINCIPAL > TOTAL LOSSES INTEREST BALANCE A1 28,439,000.00 25,693,021.13 112,821.91 1,513,739.75 1, >626,561.66 0.00 0.00 24,179,281.38 A2 12,902,000.00 12,902,000.00 66,445.30 0.00 > 66,445.30 0.00 0.00 12,902,000.00 A3 13,369,000.00 13,369,000.00 69,964.43 0.00 > 69,964.43 0.00 0.00 13,369,000.00 A4 10,191,000.00 10,191,000.00 53,672.60 0.00 > 53,672.60 0.00 0.00 10,191,000.00 A5 12,571,000.00 12,571,000.00 68,092.92 0.00 > 68,092.92 0.00 0.00 12,571,000.00 A6 36,512,000.00 32,052,960.04 139,083.14 3,045,509.07 3, >184,592.21 0.00 0.00 29,007,450.97 A-7-1 23,528,000.00 23,528,000.00 105,863.84 0.00 >105,863.84 0.00 0.00 23,528,000.00 A-7-2 97,488,000.00 97,488,000.00 438,645.63 0.00 >438,645.63 0.00 0.00 97,488,000.00 X1 0.00 0.00 333,108.75 0.00 >333,108.75 0.00 0.00 0.00 X2 0.00 0.00 460,160.83 0.00 >460,160.83 0.00 0.00 0.00 R2 0.00 0.00 197.10 0.00 > 197.10 0.00 0.00 0.00 **This statement is also available on Bankers Trust's Website, http://online.ba >nkerstrust.com/invr/. We begin posting statements to the Web at 7:00 p.m. Eastern Time on the busines >s day before each distribution date. TOTALS 235,000,000.00 227,794,981.17 1,848,056.45 4,559,248.82 6, >407,305.27 0.00 0.00 223,235,732.35 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE > PASS-THROUGH PRIOR > CURRENT RATES PRINCIPAL > PRINCIPAL CLASS CUSIP BALANCE INTEREST PRINCIPAL > TOTAL BALANCE CURRENT NEXT A1 743844BG6 903.443199 3.967155 53.227601 > 57.194756 850.215598 5.269380% 5.092340% A2 743844BH4 1,000.000000 5.150000 0.000000 > 5.150000 1,000.000000 6.180000% 6.180000% A3 743844BJ0 1,000.000000 5.233333 0.000000 > 5.233333 1,000.000000 6.280000% 6.280000% A4 743844BK7 1,000.000000 5.266667 0.000000 > 5.266667 1,000.000000 6.320000% 6.320000% A5 743844BL5 1,000.000000 5.416667 0.000000 > 5.416667 1,000.000000 6.500000% 6.500000% A6 743844BM3 877.874672 3.809245 83.411182 > 87.220426 794.463491 5.207000% 0.000000% A-7-1743844BN1 1,000.000000 4.499483 0.000000 > 4.499483 1,000.000000 5.399380% 5.222340% A-7-2743844BN1 1,000.000000 4.499483 0.000000 > 4.499483 1,000.000000 5.399380% 5.222340% X1 PB9802201 0.000000 1.417484 0.000000 > 1.417484 0.000000 4.068337% 3.435154% X2 PB9802202 0.000000 1.958131 0.000000 > 1.958131 0.000000 4.262690% 5.189685% R2 PB9802203 0.000000 0.000839 0.000000 > 0.000839 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 2 of 5 > COPYRIGHT 1998 Bankers Trust Company > PROVIDENT BANK > HOME EQUITY LOAN TRUST > > SERIES 1998-2 > 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 875,010.56891,219.30 442,961.12 627,407.98 0.00 359,385.71 > > PERCENTAGE OF POOL BALA >NCE 0.9045% 0.9212% 0.4579% 0.6485% 0.0000% 0.3715% > > NUMBER OF LOANS > 15 10 6 10 0 5 > > PERCENTAGE OF LOANS > 0.9973% 0.6649% 0.3989% 0.6649% 0.0000% 0.3324% > > GROUP 2 PRINCIPA >L BALANCE 1,103,796.576,955.541,372,511.991,094,912.07 0.00 472,350.98 > > PERCENTAGE OF POOL BALA >NCE 0.8725% 0.4560% 1.0849% 0.8654% 0.0000% 0.3734% > > NUMBER OF LOANS > 17 9 15 13 0 6 > > PERCENTAGE OF LOANS > 1.3209% 0.6993% 1.1655% 1.0101% 0.0000% 0.4662% > > 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 3 > > PRINCIPAL BALANCE OF LO >ANS IN BANKRUPTCY PROCEEDINGS LESS THAN 30 DAYS DELINQUE 22,939.66 183,251.20 > > WEIGHTED AVERAGE MORTGA >GE INTEREST RATE: 10.572355% 10.294469% > > WEIGHTED AVERAGE REMAIN >ING TERM TO MATURITY 256 355 > > PRIOR NUMBER OF MORTGAG >E LOANS INCLUDED IN THE POOL 1,526 1,310 > > CURRENT NUMBER OF MORTG >AGE LOANS INCLUDED IN THE POOL 1,504 1,287 > > PRIOR AGGREGATE PRINCIP >AL BALANCE OF THE MORTGAGE LOANS 98,257,552.30 > > CURRENT AGGREGATE PRINC >IPAL BALANCE OF THE MORTGAGE LOANS 96,743,812.55 > > POOL FACTOR OF LOAN GRO >UPS 95.782604% 94.400449% > > NUMBER OF LOANS SUBJECT > TO PRINCIPAL PREPAYMENTS 22 23 > > SCHEDULE > PRINCIPAL RECEIVED 180,023.69 59,779.35 > > PREPAYME >NTS IN FULL 1,333,805.202,985,860.1 > > CURTAILM >ENTS (89.14) (130.40) > > 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: 1,513,739.753,045,509.0 > > SERVICER ADVANCES: > 131,560.95 186,010.70 > > CUM NET FUNDS CAP CARRY >OVER AMOUNT WITH RESPECT TO A-6 CERTIFICATES 0.00 > > 3 MONTH ROLLING AVERAGE > OF PRINCIPAL BALANCE OF ALL LOANS 90 OR MORE DELINQUENT 816,672.79 > > > Page 3 of 5 COPYRIGHT 1998 B > > PROVIDENT BANK > HOME EQUITY LOAN TRUST > > SERIES 1998-2 > Statement To Certific >ateholders > Distribution Date: > November 25, 1998 > > GROUP 1 GROUP 2 > > SCHEDULED INTEREST > 865,678.14 1,111,472.3 > > 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: 40,940.65 53,983.96 > > TOTAL SERVICING FEES DU >E MASTER SERVICER: 40,940.65 53,983.96 > > LESS: COMPENSATING IN >TEREST (1,023.44) (1,229.47) > > LESS: DELINQUENT SER >VICE FEES: (6,189.88) (9,102.98) > > COLLECTED SERVICING FEE >S FOR CURRENT PERIOD: 33,727.33 43,651.51 > > AMOUNTS PAID TO CERTIFI >CATE INSURER PURSUANT SECT 5.01 (a)(i)(4) AND 5.01 (a)(i 0.00 18,351.64 > > REIMBURSEMENT AMOUNT > 0.00 0.00 > > PREMIUM AMOUNT PAID > 13,919.32 18,351.64 > > PER $1,000 OF ORIGINAL >AMOUNT 0.13781023 0.13693154 > > 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 1,513,739.753,045,509.0 > > TOTAL INTEREST COLLECTE >D 824,737.49 1,057,488.4 > > TOTAL AVAILABLE FUNDS F >OR DISTRIBUTION 2,338,477.244,102,997.4 > > BASE SPREAD ACCOUNT REQ >UIREMENT 9,595,000.00 > > SPREAD ACCOUNT BALANCE >BEGINNING 9,595,000.00 > > SPREAD ACCOUNT BALANCE >ENDING 9,595,000.00 > > 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 > > CURRENT NONRECOVERABLE >ADVANCES 0.00 0.00 > > > Page 4 of 5 COPYRIGHT 1998 B > > PROVIDENT BANK > HOME EQUITY LOAN TRUST > > SERIES 1998-2 > Statement To Certific >ateholders > Distribution Date: > November 25, 1998 > > GROUP 1 GROUP 2 > > SCHEDULED INTEREST > 865,678.14 1,111,472.3 > > LIQUIDATION INTEREST > 0.00 0.00 > > STOP ADVANCE INTEREST > 0.00 0.00 > > COMPENSATING INTEREST > (1,023.44) (1,229.47) > > 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 1,513,739.753,045,509.0 > > TOTAL INTEREST COLLECTE >D 824,737.49 1,057,488.4 > > TOTAL AVAILABLE FUNDS F >OR DISTRIBUTION 2,338,477.244,102,997.4 > > O/C AMOUNT > 3,531.17 20,543.55 > > OUTSTANDING CLASS INTER >EST CARRYOVER SHORTFALL 0.00 0.00 > > OUTSTANDING CLASS A PRI >NCIPAL SHORTFALL AMOUNT 0.00 0.00 > > > Page 5 of 5 COPYRIGHT 1998 B > uency Figures. ankers Trust Company ankers Trust Company ankers Trust Company