<?xml version="1.0"?>

<ownershipDocument>

    <documentType>4</documentType>

    <periodOfReport>2003-05-16</periodOfReport>


    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000790183</issuerCik>
        <issuerName>PROGRESS FINANCIAL CORP</issuerName>
        <issuerTradingSymbol>PFNC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001203405</rptOwnerCik>
            <rptOwnerName>LANOCE PAUL M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock (acquired through stock dividend)</value>
        </securityTitle>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>1601</value>
                <footnoteId id="F1"/>
            </transactionShares>
            <transactionValue>
                <value>14.3</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>33629</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock Options (right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>2.74</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>303</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>2.74</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1993-06-04</value>
        </exerciseDate>
        <expirationDate>
            <value>2003-06-04</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>303</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>6379</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock Options (right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>3.62</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>15</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>3.62</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1993-12-31</value>
        </exerciseDate>
        <expirationDate>
            <value>2003-12-31</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>15</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>317</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock Options (right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>3.33</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>15</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>3.33</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1994-12-31</value>
        </exerciseDate>
        <expirationDate>
            <value>2004-12-31</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>15</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>317</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock Options (right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>4.41</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>15</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>4.41</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1995-12-31</value>
        </exerciseDate>
        <expirationDate>
            <value>2005-12-31</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>15</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>317</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock Options (right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>6.56</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>15</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>6.56</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1996-12-31</value>
        </exerciseDate>
        <expirationDate>
            <value>2006-12-31</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>15</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>317</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock Options (right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>13.57</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>30</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>13.57</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1997-12-31</value>
        </exerciseDate>
        <expirationDate>
            <value>2007-12-31</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>30</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>636</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock Options (right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>13.57</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>86</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>13.57</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1998-01-01</value>
        </exerciseDate>
        <expirationDate>
            <value>2008-01-01</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>86</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>1821</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock Options (right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>10.69</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>30</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>10.69</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1998-12-31</value>
        </exerciseDate>
        <expirationDate>
            <value>2008-12-31</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>30</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>636</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock Options (right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>11.45</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>30</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>11.45</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1999-12-31</value>
        </exerciseDate>
        <expirationDate>
            <value>2009-12-31</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>30</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>637</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock Options (right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>11.34</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>92</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>11.34</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2000-02-01</value>
        </exerciseDate>
        <expirationDate>
            <value>2010-02-01</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>92</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>1937</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock Options (right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>6.79</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>30</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>6.79</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2000-12-29</value>
        </exerciseDate>
        <expirationDate>
            <value>2010-12-29</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>30</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>637</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock Options (right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>6.79</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>100</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>6.79</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2001-01-02</value>
        </exerciseDate>
        <expirationDate>
            <value>2011-01-02</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>100</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>2100</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock Options (right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>8.93</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>103</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>8.93</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2001-01-23</value>
        </exerciseDate>
        <expirationDate>
            <value>2011-01-23</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>103</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>2172</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock Options (right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>7.14</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>30</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>7.14</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2001-12-31</value>
        </exerciseDate>
        <expirationDate>
            <value>2011-12-31</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>30</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>637</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock Options (right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>7.11</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>36</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>7.11</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2002-01-02</value>
        </exerciseDate>
        <expirationDate>
            <value>2012-01-02</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>36</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>775</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock Options (right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>11.06</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>30</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>11.06</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2002-12-31</value>
        </exerciseDate>
        <expirationDate>
            <value>2012-12-31</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>30</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>637</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock Options (right to buy)</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>11.43</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-05-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>46</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>11.43</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2003-01-22</value>
        </exerciseDate>
        <expirationDate>
            <value>2013-01-22</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>46</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>971</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <footnotes>
        <footnote id="F1">shares acquired through 5% stock dividend payment.</footnote>
        <footnote id="F2">exercise price adjusted for 5% stock dividend payment.</footnote>
        <footnote id="F3">options acquired as a result of 5% stock dividend.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Michael B. High, POA for Paul M. LaNoce</signatureName>
        <signatureDate>2003-05-16</signatureDate>
    </ownerSignature>

</ownershipDocument>

