The Provident Bank
Mortgage Pass-Through Certificates
Record Date: 05/31/2000
Distribution Date: 06/26/2000
PROVIDENT Series: 2000-1
Contact: Customer Service - CTSLink
Norwest Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone: (301) 815-6600
Fax: (301) 846-8152
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
A-1 743844CY6 SEQ 6.87000% 412,482,861.69 2,518,895.34 3,919,337.35
A-2 743844CZ3 SEQ 6.87000% 194,384,099.95 1,187,038.89 2,372,531.69
X-1 PRV0000X1 IO 3.19037% 0.00 1,096,645.54 0.00
X-2 PRV0000X2 IO 2.93735% 0.00 475,812.34 0.00
R PRV00000R RES 0.00000% 0.00 5.90 0.00
Totals 606,866,961.64 5,278,398.01 6,291,869.04
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
A-1 0.00 408,563,524.34 6,438,232.69 0.00
A-2 0.00 192,011,568.26 3,559,570.58 0.00
X-1 0.00 0.00 1,096,645.54 0.00
X-2 0.00 0.00 475,812.34 0.00
R 0.00 0.00 5.90 0.00
Totals 0.00 600,575,092.60 11,570,267.05 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
A-1 418,000,000.00 412,482,861.69 420,904.85 3,498,432.50 0.00 0.00
A-2 197,000,000.00 194,384,099.95 151,475.54 2,221,056.15 0.00 0.00
X-1 0.00 0.00 0.00 0.00 0.00 0.00
X-2 0.00 0.00 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
Totals 615,000,000.00 606,866,961.64 572,380.39 5,719,488.65 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
A-1 3,919,337.35 408,563,524.34 0.97742470 3,919,337.35
A-2 2,372,531.69 192,011,568.26 0.97467801 2,372,531.69
X-1 0.00 0.00 0.00000000 0.00
X-2 0.00 0.00 0.00000000 0.00
R 0.00 0.00 0.00000000 0.00
Totals 6,291,869.04 600,575,092.60 0.97654487 6,291,869.04
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
A-1 418,000,000.00 986.80110452 1.00694940 8.36945574 0.00000000
A-2 197,000,000.00 986.72131954 0.76891137 11.27439670 0.00000000
X-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000
R 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
Per $1,000 Denomination.
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
A-1 0.00000000 9.37640514 977.42469938 0.97742470 9.37640514
A-2 0.00000000 12.04330807 974.67801147 0.97467801 12.04330807
X-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
X-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
A-1 418,000,000.00 6.87000% 412,482,861.69 2,518,895.34 0.00 0.00
A-2 197,000,000.00 6.87000% 194,384,099.95 1,187,038.90 0.00 0.00
X-1 0.00 3.19037% 412,483,646.88 1,096,645.54 0.00 0.00
X-2 0.00 2.93735% 194,384,099.96 475,812.35 0.00 0.00
R 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 615,000,000.00 5,278,392.13 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
A-1 0.00 0.00 2,518,895.34 0.00 408,563,524.34
A-2 0.01 0.00 1,187,038.89 0.00 192,011,568.26
X-1 0.00 0.00 1,096,645.54 0.00 408,564,309.53
X-2 0.00 0.00 475,812.34 0.00 192,011,679.76
R 0.00 0.00 5.90 0.00 0.00
Totals 0.01 0.00 5,278,398.01 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
A-1 418,000,000.00 6.87000% 986.80110452 6.02606541 0.00000000 0.00000000
A-2 197,000,000.00 6.87000% 986.72131954 6.02557817 0.00000000 0.00000000
X-1 0.00 3.19037% 986.80112931 2.62354900 0.00000000 0.00000000
X-2 0.00 2.93735% 1015.73747969 2.48631672 0.00000000 0.00000000
R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
Per $1,000 Denomination.
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
A-1 0.00000000 0.00000000 6.02606541 0.00000000 977.42469938
A-2 0.00000005 0.00000000 6.02557812 0.00000000 974.67801147
X-1 0.00000000 0.00000000 2.62354900 0.00000000 977.42474178
X-2 0.00000000 0.00000000 2.48631666 0.00000000 1003.34060096
R 0.00000000 0.00000000 1475000.00000000 0.00000000 0.00000000
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Rate Balance Balance Balance Balance Percentage
Class
C 1,200.00000% 0.00 0.00 0.00 0.00 0.00000000%
PROV 0.00000% 0.00 0.00 0.00 0.00 0.00000000%
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 11,678,718.42
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 148,203.16
Realized Losses 0.00
Total Deposits 11,826,921.58
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 256,654.53
Payment of Interest and Principal 11,570,267.05
Total Withdrawals (Pool Distribution Amount) 11,826,921.58
Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES
Gross Servicing Fee 252,861.61
Trustee Fee 3,792.94
MIBA Fee 0.00
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 256,654.55
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
Financial Guaranty 0.00 0.00 0.00 0.00
Financial Guaranty 0.00 0.00 0.00 0.00
Reserve Fund 5,000.00 0.00 0.00 5,000.00
Reserve Fund 39,710,000.00 0.00 0.00 39,710,000.00
Reserve Fund 26,595,000.00 0.00 0.00 26,595,000.00
CERTIFICATEHOLDER DELINQUENCY/CREDIT ENHANCEMENT STATEMENT
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid
Number Principal Number Unpaid
Of Loans Balance Of Loans Balance
30 Days 117 8,458,740.36 1.455043% 1.408438%
60 Days 60 4,826,895.08 0.746176% 0.803711%
90+ Days 5 214,934.16 0.062181% 0.035788%
Foreclosure 31 2,265,548.81 0.385524% 0.377229%
REO 0 0.00 0.000000% 0.000000%
Totals 213 15,766,118.41 2.648924% 2.625166%
OTHER INFORMATION
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 148,203.16
Class X-1 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000%
Class X-2 0.00 0.00000000% 0.00 0.00000000% 0.000000% 0.000000%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
COLLATERAL STATEMENT
Collateral Description Fixed & Mixed ARM
Weighted Average Gross Coupon 11.124826%
Weighted Average Net Coupon 10.617326%
Weighted Average Pass-Through Rate 0.000000%
Weighted Average Maturity(Stepdown Calculation ) 285
Beginning Scheduled Collateral Loan Count 8,120
Number Of Loans Paid In Full 79
Ending Scheduled Collateral Loan Count 8,041
Beginning Scheduled Collateral Balance 606,867,858.33
Ending Scheduled Collateral Balance 600,575,989.29
Ending Actual Collateral Balance at 31-May-2000 600,434,859.06
Monthly P &I Constant 6,198,462.95
Ending Scheduled Balance for Premium Loans 600,575,989.29
Group Level Collateral Statement
Group ID 1 2 Total
Collateral Description Mixed Fixed Mixed ARM
Weighted Average Coupon Rate 11.205867 10.952856
Weighted Average Net Rate 10.698367 10.445356
Weighted Average Maturity 256.00 355.00
Beginning Loan Count 6,140 1,980 8,120
Loans Paid In Full 55 24 79
Ending Loan Count 6,085 1,956 8,041
Beginning Scheduled Balance 412,483,646.88 194,384,211.45 606,867,858.33
Ending scheduled Balance 408,564,309.53 192,011,679.76 600,575,989.29
Record Date 05/31/2000 05/31/2000
Principal And Interest Constant 4,272,768.86 1,925,694.09 6,198,462.95
Scheduled Principal 420,904.85 151,475.54 572,380.39
Unscheduled Principal 3,498,432.50 2,221,056.15 5,719,488.65
Scheduled Interest 3,851,864.01 1,774,218.55 5,626,082.56
Servicing Fees 171,868.18 80,993.43 252,861.61
Master Servicing Fees 0.00 0.00 0.00
Trustee Fee 2,578.04 1,214.90 3,792.94
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 0.00 0.00 0.00
Pool Insurance Fee 0.00 0.00 0.00
Spread Fee 1 0.00 0.00 0.00
Spread Fee 2 0.00 0.00 0.00
Spread Fee 3 0.00 0.00 0.00
Net Interest 3,677,417.79 1,692,010.22 5,369,428.01
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.00 0.00 0.00
Delinquency Status By Groups
Group 30 Days 60 Days 90 + Days Foreclosure REO Bankruptcy
1 Principal Balance 5,479,042.26 3,365,426.04 214,934.16 1,485,761.22 0.00 723,980.33
Percentage Of Balance 1.341% 0.824% 0.053% 0.364% 0.000% 0.177%
Loan Count 89 46 5 25 0 10
Percentage Of Loans 1.463% 0.756% 0.082% 0.411% 0.000% 0.164%
2 Principal Balance 2,979,698.10 1,461,469.04 0.00 779,787.59 0.00 528,665.81
Percentage Of Balance 1.552% 0.761% 0.000% 0.406% 0.000% 0.275%
Loan Count 28 14 0 6 0 5
Percentage Of Loans 1.431% 0.716% 0.000% 0.307% 0.000% 0.256%
Totals:Principal Balance 8,458,740.36 4,826,895.08 214,934.16 2,265,548.81 0.00 1,252,646.14
Percentage of Balance 1.408% 0.804% 0.036% 0.377% 0.000% 0.209%
Loan Count 117 60 5 31 0 15
Percentage Of Loans 1.455% 0.746% 0.062% 0.386% 0.000% 0.187%