<?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>0001203412</rptOwnerCik>
            <rptOwnerName>MORGAN ERIC J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Secretary</officerTitle>
        </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>71</value>
                <footnoteId id="F1"/>
            </transactionShares>
            <transactionValue>
                <value>14.3</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>1507</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>PFNC Common Stock (acquired through ESOP</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>341</value>
                <footnoteId id="F1"/>
            </transactionShares>
            <transactionValue>
                <value>14.3</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>7183</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>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>152</value>
                <footnoteId id="F2"/>
            </transactionShares>
            <transactionValue>
                <value>3.62</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1994-02-24</value>
        </exerciseDate>
        <expirationDate>
            <value>2004-02-24</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>152</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>3188</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>152</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>3.33</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1995-01-01</value>
        </exerciseDate>
        <expirationDate>
            <value>2005-01-01</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>152</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>3188</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>3.53</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>3.53</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1995-04-01</value>
        </exerciseDate>
        <expirationDate>
            <value>2005-04-01</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>4.5</value>
            <footnoteId id="F2"/>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-05-16</value>
        </transactionDate>
        <deemedExecutionDate>
            <value>2003-01-16</value>
        </deemedExecutionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>91</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>4.5</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1996-03-18</value>
        </exerciseDate>
        <expirationDate>
            <value>2006-03-01</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>91</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>1912</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>6.46</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>424</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>6.46</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>1997-05-15</value>
        </exerciseDate>
        <expirationDate>
            <value>2007-05-15</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>424</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>8932</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>130</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>130</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>2756</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>7.38</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>67</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>7.38</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2001-02-27</value>
        </exerciseDate>
        <expirationDate>
            <value>2011-02-27</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>67</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>1407</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>7.38</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>33</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>7.38</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2004-02-27</value>
        </exerciseDate>
        <expirationDate>
            <value>2011-02-27</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>33</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>693</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>7.67</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>43</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>7.67</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2002-02-15</value>
        </exerciseDate>
        <expirationDate>
            <value>2012-02-15</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>43</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>892</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>7.67</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>41</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>7.67</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2004-02-15</value>
        </exerciseDate>
        <expirationDate>
            <value>2012-02-15</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
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            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>866</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>7.67</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>41</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>7.67</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2005-02-15</value>
        </exerciseDate>
        <expirationDate>
            <value>2012-02-15</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>41</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>867</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>12.38</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>50</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>12.38</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2004-02-26</value>
        </exerciseDate>
        <expirationDate>
            <value>2013-02-26</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>50</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>1071</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>12.38</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>50</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>12.38</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2005-02-26</value>
        </exerciseDate>
        <expirationDate>
            <value>2013-02-26</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>50</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>1039</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>12.38</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>50</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>12.38</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2006-02-26</value>
        </exerciseDate>
        <expirationDate>
            <value>2013-02-26</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>common stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>50</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>1040</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">option acquired as a result of 5% stock dividend payment.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Eric J. Morgan</signatureName>
        <signatureDate>2003-05-19</signatureDate>
    </ownerSignature>

</ownershipDocument>

