SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

DUNN PIERCE B

(Last)

(First)

(Middle)

114 EAST LEXINGTON STREET

(Street)

BALTIMORE

21202

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
PROVIDENT BANKSHARES CORP [ (PBKS) ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/24/2004

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	08/24/2004		S		300	D	$31.51	862	I	By Trustee AB Dunn II
Common Stock								13,711	D
Common Stock								278	I	By Custodian for C.E. Dunn
Common Stock								1,625	I	By Custodian for M.H. Dunn
Common Stock								135	I	By Spouse
Common Stock								513.5	I	By Stock Award⁽¹⁾
Common Stock								28,140	I	By Trustee, E. Dunn Sr.

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Non-Qualified Stock Option (right to buy)	$7.99							04/19/1995⁽²⁾	04/19/2005	Common Stock	2,814		2,814	D
Non-Qualified Stock Option (right to buy)	$11.7							04/17/1996⁽³⁾	04/17/2006	Common Stock	5,362		5,362	D
Non-Qualified Stock Option (right to buy)	$27.76							02/13/1998⁽⁴⁾	02/13/2008	Common Stock	4,863		4,863	D
Non-Qualified Stock Option (right to buy)	$13.57							07/19/2000⁽⁵⁾	07/19/2010	Common Stock	7,350		7,350	D

Explanation of Responses:

1. Stock Awards granted pursuant to the Provident Bankshares Corporation 2004 Equity Compensation Plan vest in three annual installments commencing on April 21, 2005.

2. Non-Qualified Stock Options granted pursuant to the Provident Bankshares Corporation Amended and Restated Stock Option Plan are fully vested and exercisable as of April 19, 1995.

3. The reporting person also beneficially owns 4,863 options held directly which are fully vested and exercisable as of February 13,1998, at an exercise price of $27.76 and 7,350 options held directly which are fully vested and exercisable as of July 19, 2000, at an exercise price of $13.57.

4. Non-Qualified Stock Options granted pursuant to the Provident Bankshares Corporation Amended and Restated Stock Option Plan are fully vested and exercisable as of February 13, 1998.

5. Non-Qualified Stock Options granted pursuant to the Provident Bankshares Corporation Amended and Restated Stock Option Plan are fully vested and exercisable as of July 19, 2000.

Remarks:

	By: Robert L. Davis, Power of Attorney	10/12/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.