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PROVIDENT BANCORP, INC. ANNOUNCES INCREASED CASH DIVIDEND

 CINCINNATI, Nov. 1 /PRNewswire/ -- Provident Bancorp, Inc. (NASDAQ: PRBK) announced today that it has increased the quarterly cash dividend 10 percent on its common stock to $.22 per share from $.20 per share. The increased dividend will be paid on Nov. 26, 1993, to stockholders of record on Nov. 9, 1993.
 Allen L. Davis, president of Provident, stated: "We are pleased to be able to increase our cash dividend again after just 10 months. This increase reflects our continued core earnings growth and strong capital position. Our quarterly dividend has grown 22 percent since year end 1992."
 The company's previous quarterly stock dividend increase, announced Jan. 21, 1993, raised the payout from $.18 per share to $.20 per share.
 Provident Bancorp, Inc. is a $4.1 billion bank holding company headquartered in Cincinnati. Its banking subsidiaries are The Provident Bank, which has 55 offices, including 40 in the Greater Cincinnati area, 12 in the Greater Dayton, region, two in Cleveland and one in Columbus, and The Provident Bank of Kentucky, which has six offices in Northern Kentucky.
 -0- 11/1/93
 /CONTACT: Marcia A. Gammeter, vice president, corporate communications, of Provident Bancorp, 513-579-2741/
 (PRBK)


CO: Provident Bancorp, Inc. ST: Ohio IN: FIN SU: DIV

AR -- CL010 -- 8917 11/01/93 07:25 EST
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Publication:PR Newswire
Date:Nov 1, 1993
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