<PAGE>
 
                       SECURITIES AND EXCHANGE COMMISSION

                            Washington, D. C.  20549

                                 FORM  10-Q/A

Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934 for the quarterly period end September 30, 1996.

Commission file number                      000-19388
                                           -----------

                           PROVIDENT COMPANIES, INC.
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             (Exact name of registrant as specified in its charter)

          DELAWARE                               62-1321664
-------------------------------             -------------------
(State or other jurisdiction of             (I.R.S. Employer
incorporation or organization)              Identification No.)


                1 Fountain Square, Chattanooga, Tennessee  37402
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                    (Address of principal executive offices)
                                   (Zip Code)

                                 (423) 755-1011
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              (Registrant's telephone number, including area code)

                                      None
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              Former name, former address and former fiscal year,
                          if changed since last report

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

Yes      X         No   _______
      ------            

Indicate the number of shares outstanding for each of the issuer's classes of
common stock, as of the latest practicable date.


            CLASS                         OUTSTANDING AT September 30, 1996
----------------------------              ---------------------------------
Common Stock, $1.00 Par Value                        45,574,374


                     Total number of pages included are 2
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                                  SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                 Provident Companies, Inc.



Date:  November 15, 1996         /s/J. Harold Chandler
                                 --------------------------------
                                 J. Harold Chandler
                                 Chairman, President and
                                 Chief Executive Officer



Date:  November 15, 1996         /s/Thomas R. Watjen
                                 --------------------------------
                                 Thomas R. Watjen
                                 Executive Vice President and
                                 Chief Financial Officer

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