<PAGE>                                   
                  SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C.  20549
                                   
                                   
                               FORM 10-Q
                                   
                                   
         Quarterly Report Pursuant to Section 13 or 15 (d) of
                  the Securities Exchange Act of 1934
                                   
For the Quarterly Period Ended                       Commission File
March 31, 1998                                            No. 1-8019


     P R O V I D E N T   F I N A N C I A L   G R O U P ,   I N C .
                                   
                                   
                                   
Incorporated under                                 IRS Employer I.D.
the Laws of Ohio                                      No. 31-0982792


            One East Fourth Street, Cincinnati, Ohio  45202
                         Phone:  513-579-2000
                                   
                                   
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 of each  of  the  issuer's
classes  of  common stock, as of the latest practicable date:   Common
stock, without par value, outstanding at April 30, 1998 is 43,171,920.


                 Please address all correspondence to:
                                   
                          John R. Farrenkopf
              Vice President and Chief Financial Officer
                    Provident Financial Group, Inc.
                        One East Fourth Street
                        Cincinnati, Ohio  45202

                                 - 1 -
<PAGE>                                  
                PART I.  FINANCIAL INFORMATION
<TABLE>
ITEM 1.  FINANCIAL STATEMENTS

       PROVIDENT FINANCIAL GROUP, INC. AND SUBSIDIARIES
                 CONSOLIDATED BALANCE SHEETS
                    (Dollars in Thousands)
<CAPTION>
                                                                 March 31,   December 31,
                                                                   1998          1997
                                                                (Unaudited)
<S>                                                             <C>           <C>
                            ASSETS
Cash and Noninterest Bearing Deposits                             $215,073      $274,521
Federal Funds Sold and Reverse Repurchase Agreements                     -         1,720
Investment Securities Available for Sale
  (amortized cost - $1,617,351 and $1,371,303)                   1,611,115     1,371,507
Loans and Leases (Net of Unearned Income):
  Commercial Lending:
    Commercial and Financial                                     2,991,514     2,733,556
    Mortgage                                                       430,139       469,505
    Construction                                                   326,469       305,150
    Lease Financing                                                343,221       340,302
  Consumer Lending:
    Instalment                                                     599,815       624,340
    Residential - Held for Sale                                    114,063       136,183
    Lease Financing                                                459,938       442,806
      Total Loans and Leases                                     5,265,159     5,051,842
  Reserve for Loan and Lease Losses                                (72,837)      (71,980)
      Net Loans and Leases                                       5,192,322     4,979,862
Premises and Equipment                                             188,855       183,854
Other Assets                                                       492,630       312,195
                                                                $7,699,995    $7,123,659

             LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
  Deposits:
    Noninterest Bearing                                           $595,321      $605,166
    Interest Bearing                                             4,357,983     4,091,132
      Total Deposits                                             4,953,304     4,696,298
  Short-Term Debt                                                1,097,772       806,125
  Long-Term Debt                                                   677,498       688,157
  Guaranteed Preferred Beneficial Interests in
    Company's Junior Subordinated Debentures                        98,832        98,817
  Accrued Interest and Other Liabilities                           200,228       197,001
      Total Liabilities                                          7,027,634     6,486,398
Shareholders' Equity:
  Preferred Stock, 5,000,000 Shares Authorized,
    Series D, 70,272 Issued                                          7,000         7,000
  Common Stock, No Par Value, 110,000,000 Shares
    Authorized, 43,084,407 and 42,325,882 Issued                    12,702        12,482
  Capital Surplus                                                  213,982       196,617
  Retained Earnings                                                438,897       417,360
  Reserve for Retirement of Capital Securities                       3,833         3,667
  Accumulative Other Comprehensive Income                           (4,053)          135
      Total Shareholders' Equity                                   672,361       637,261
                                                                $7,699,995    $7,123,659
</TABLE>
                                 - 2 -                                   
<PAGE>
<TABLE>
         PROVIDENT FINANCIAL GROUP, INC. AND SUBSIDIARIES
               CONSOLIDATED STATEMENTS OF EARNINGS
                           (Unaudited)
             (In Thousands, Except Per Share Amounts)
<CAPTION>
                                                                    Three Months Ended
                                                                        March 31,
                                                                     1998        1997
<S>                                                                <C>         <C>
Interest Income:
  Interest and Fees on Loans and Leases                            $123,142    $119,701
  Interest on Investment Securities:
    Taxable                                                          22,649      17,314
    Exempt From Federal Income Taxes                                    108          55
                                                                     22,757      17,369
  Interest on Federal Funds Sold and
    Reverse Repurchase Agreements                                       389         216
      Total Interest Income                                         146,288     137,286
Interest Expense:
  Interest on Deposits:
    Savings and Demand Deposits                                      10,798       4,789
    Time Deposits                                                    43,888      47,044
      Total Interest on Deposits                                     54,686      51,833
  Interest on Short-Term Debt                                        12,520       7,651
  Interest on Long-Term Debt                                         10,772      12,103
  Interest on Junior Subordinated Debentures                          2,166       2,166
    Total Interest Expense                                           80,144      73,753
      Net Interest Income                                            66,144      63,533
Provision for Loan and Lease Losses                                   5,000      11,000
  Net Interest Income After Provision
    for Loan and Lease Losses                                        61,144      52,533
Noninterest Income:
  Service Charges on Deposit Accounts                                 6,412       5,578
  Other Service Charges and Fees                                     14,958       9,233
  Operating Lease Income                                              9,054       5,594
  Gain on Sales of Loans and Leases                                  13,526      14,908
  Security Gains                                                      3,692       2,223
  Other                                                               2,195       3,008
    Total Noninterest Income                                         49,837      40,544
Noninterest Expense:
  Compensation:
    Salaries                                                         23,401      18,729
    Benefits                                                          4,648       3,439
    Profit Sharing                                                    1,288       1,559
  Depreciation on Operating Lease Equipment                           5,282       3,752
  Occupancy                                                           3,807       2,646
  Equipment Expense                                                   4,231       3,267
  Professional Fees                                                   3,973       3,048
  Charges and Fees                                                    2,394       3,433
  Marketing                                                           2,307       2,042
  Other                                                              13,300       9,107
    Total Noninterest Expense                                        64,631      51,022

Earnings Before Income Taxes                                         46,350      42,055
Applicable Income Taxes                                              15,950      14,748
  Net Earnings                                                      $30,400     $27,307

Net Earnings Per Common Share:
  Basic                                                                $.71        $.67
  Diluted                                                               .68         .63
Average Basic Shares                                                 42,615      40,608
Average Diluted Shares                                               44,822      43,193
</TABLE>
                                 -3 -
<PAGE>
<TABLE>
                                                PROVIDENT FINANCIAL GROUP, INC. AND SUBSIDIARIES
                                           CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
                                                                   (Unaudited)
                                                                 (In Thousands)
<CAPTION>


                                                                       Reserve for   Accumulative
                                                                        Retirement      Other
                            Preferred   Common    Capital    Retained   of Capital  Comprehensive   Comprehensive
                              Stock      Stock    Surplus    Earnings   Securities      Income          Income
<S>                         <C>         <C>       <C>        <C>        <C>         <C>             <C>
Balance at January 1, 1997     $7,000   $11,973   $160,586   $326,599       $6,667         $3,980

  Net Earnings                                                 27,307                                     $27,307
  Dividends Paid on:
    Preferred Stock                                              (158)
    Common Stock                                               (6,522)
  Allocation for Retirement
    of Capital Securities                                        (333)         333
  Exercise of Stock Options                  53      3,336
  Acquisition                                55      7,097
  Change in Unrealized
    Gains (Losses) on
    Marketable Securities                                                                  (7,304)         (7,304)

Balance at March 31, 1997      $7,000   $12,081   $171,019   $346,893       $7,000        ($3,324)        $20,003



Balance at January 1, 1998     $7,000   $12,482   $196,617   $417,360       $3,667           $135

  Net Earnings                                                 30,400                                     $30,400
  Dividends Paid on:
    Preferred Stock                                              (198)
    Common Stock                                               (8,559)
  Allocation for Retirement
    of Capital Securities                                        (166)         166
  Exercise of Stock Options                 220     17,365
  Change in Unrealized
    Gains (Losses) on
    Marketable Securities                                                                  (4,188)         (4,188)
  Other                                                            60

Balance at March 31, 1998      $7,000   $12,702   $213,982   $438,897       $3,833        ($4,053)        $26,212
</TABLE>
                                 - 4 -
<PAGE>                        
<TABLE>
         PROVIDENT FINANCIAL GROUP, INC. AND SUBSIDIARIES
               CONSOLIDATED STATEMENTS OF CASH FLOWS
                            (Unaudited)
                          (In Thousands)
<CAPTION>
                                                                   Three Months Ended March 31,
                                                                      1998               1997
<S>                                                                <C>                 <C>
Operating Activities:
  Net Earnings                                                        $30,400           $27,307
  Adjustments to Reconcile Net Earnings to
    Net Cash Provided by Operating Activities:
      Provision for Loan and Lease Losses                               5,000            11,000
      Amortization of Goodwill                                            461               381
      Amortization of Unearned Income and Other                       (17,989)          (17,536)
      Depreciation of Premises and Equipment                            8,721             6,269
      Realized Investment Security Gains                               (3,692)           (2,223)
      Proceeds from Sale of Loans Held for Sale                       284,142           409,287
      Origination of Loans Held for Sale                             (271,346)         (151,873)
      Realized Gains on Loans Held for Sale                            (9,424)          (13,729)
      Realized Gains on Sale of Other Loans and Leases                 (4,102)           (1,179)
      (Increase) Decrease in Interest Receivable                       (7,984)               18
      Increase in Other Assets                                       (172,910)          (10,774)
      Increase in Interest Payable                                     17,773            15,420
      Increase (Decrease) in Other Liabilities                        (12,296)            5,231
        Net Cash Provided By (Used In) Operating Activities          (153,246)          277,599

Investing Activities:
  Investment Securities Available for Sale:
    Proceeds from Sales                                               711,677           109,714
    Proceeds from Maturities and Prepayments                          360,812            34,099
    Purchases                                                      (1,295,448)         (133,429)
  Net Increase in Loans and Leases                                   (218,067)           (8,653)
  Net Increase in Premises and Equipment                              (13,722)           (4,075)
  Net Cash and Cash Equivalents Received in Acquisition                     -             3,918
    Net Cash Provided By (Used In) Investing Activities              (454,748)            1,574

Financing Activities:
  Net Increase in Deposits                                            257,006           226,307
  Net Increase (Decrease) in Short-Term Debt                          291,647          (131,883)
  Principal Payments on Long-Term Debt                                (25,755)         (183,589)
  Proceeds From Issuance of Long-Term Debt                             15,040                 -
  Cash Dividends Paid                                                  (8,757)           (6,680)
  Proceeds from Sale of Common Stock                                   17,585             3,389
  Net Increase in Other Equity Items                                       60                 -
    Net Cash Provided By (Used In) Financing Activities               546,826           (92,456)
      Increase (Decrease) in Cash and Cash Equivalents                (61,168)          186,717
  Cash and Cash Equivalents at Beginning of Period                    276,241           278,747
    Cash and Cash Equivalents at End of Period                       $215,073          $465,464

Supplemental Disclosures of Cash Flow Information:
  Cash Paid for:
    Interest                                                          $62,370           $58,333
    Income Taxes                                                            -                 -
  Non-Cash Activity:
    Transfer of Loans and Premises and Equipment to
      Other Real Estate                                                   567             4,882
    Residual Interest Securities Created from the
      Sale of Loans                                                    18,748            13,737
    Common Stock Issued To Acquire Business                                 -             7,152
</TABLE>
                                 - 5 -
<PAGE>
           PROVIDENT FINANCIAL GROUP, INC. AND SUBSIDIARIES
              NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   

In  the opinion of management, the accompanying unaudited consolidated
financial  statements  contain  all adjustments  (consisting  of  only
normal  recurring  accruals)  necessary  for  fair  presentation.  The
results   of  operations  for  interim  periods  are  not  necessarily
indicative of the results to be expected for the full year.

The   financial  statements  presented  herein  should  be   read   in
conjunction  with the financial statements and notes thereto  included
in  Provident Financial Group, Inc.'s 1997 annual report on Form  10-K
filed with the Securities and Exchange Commission.

Basis of Presentation

The   consolidated  financial  statements  include  the  accounts   of
Provident Financial Group, Inc. and its subsidiaries, all of which are
wholly  owned. All significant intercompany balances and  transactions
have  been  eliminated. Certain reclassifications have  been  made  to
conform to the current year presentation.

The accompanying financial statements have been prepared in accordance
with  the  instructions to Form 10-Q and therefore do not include  all
information and footnotes necessary to be in conformity with generally
accepted accounting principles.

Statement  of  Financial  Accounting  Standards  No.  130,  "Reporting
Comprehensive  Income"  establishes standards  for  the  reporting  of
comprehensive income and its components. Comprehensive income includes
net  income  and  certain items that are reported  directly  within  a
separate component of stockholders' equity and bypass net income.  The
provisions  of this SFAS became effective with 1998 interim  reporting
and  is  disclosed within the Consolidated Statements  of  Changes  in
Shareholders' Equity. Implementation of this statement had  no  impact
on  net  earnings  or shareholders' equity. Prior  periods  have  been
restated to conform to the current presentation.

Guaranteed   Preferred  Beneficial  Interests  in   Company's   Junior
Subordinated Debentures

In  1996,  Provident Financial established Provident Capital Trust  I.
Provident  Capital issued $100 million of preferred Capital Securities
to  the  public  and  $3.1 million of common to  Provident  Financial.
Proceeds from the issuance of the capital securities were invested  in
Provident Financial's 8.60% Junior Subordinated Debentures, due  2026.
Taken together, Provident Financial's obligations under the Guarantee,
the  Declaration, the Indenture and the Debentures provide a full  and
unconditional  guarantee of the Capital Securities.  The  sole  assets
(excluding interest receivable on the Debentures, prepaid expenses and
receivables) of Provident Capital are the Debentures.

                                 - 6 -
<PAGE>
Provident Auto Leasing Company

In  January  1997, Provident Financial formed Provident  Auto  Leasing
Company,  a  Delaware  business trust, as a  subsidiary  of  Provident
Commercial  Group,  Inc.  Provident Auto  was  created  to  avoid  the
administrative difficulty and expense associated with retitling leased
vehicles  in  connection with the financing or transfer of  beneficial
ownership  of  automobile  and light duty trucks  subject  to  leases.
Provident  Auto  is a separate legal entity from Provident  Commercial
and  each  maintains separate books and records with  respect  to  its
assets and liabilities. As of March 31, 1998 Provident Auto had  total
assets  of  $96.9 million. These assets are not available to creditors
of  Provident  Commercial  to  secure any  indebtedness  of  Provident
Commercial,  or  otherwise  to satisfy the claims  of  such  creditors
against Provident Commercial.

Stock Options

Options to purchase 244,050 shares of Provident Financial Common Stock
were  granted during the first three months of 1998. The options  have
exercise prices ranging from $44.12 to $51.62.

Off-Balance Sheet Financial Agreements

In  the  normal course of business, Provident Financial  uses  various
financial  instruments  with off-balance  sheet  risk  to  manage  its
interest  rate risk and to meet the financing needs of its  customers.
At  March  31, 1998, these off-balance sheet instruments consisted  of
standby  letters  of credit of $121.8 million, commitments  to  extend
credit  of $2.1 billion and interest rate swaps with a notional amount
of $1.3 billion.


Item  2.   Management's Discussion and Analysis of Financial Condition
and Results of Operations

Results of Operations

Summary

Provident Financial's net earnings for the first quarter of 1998  were
$30.4 million compared to $27.3 million for the first quarter of 1997.
Net  interest  income  increased by $2.6  million,  or  4%,  over  the
comparable period in 1997. The provision for loan and lease losses was
$5.0  million,  a decrease of $6.0 million from the first  quarter  in
1997. Noninterest income increased $9.3 million, or 23%, primarily  in
the  other  service  charges  and  fees  and  operating  lease  income
categories.  Noninterest  expense increased  $13.6  million,  or  27%,
primarily as a result of the continued expansion of Provident Consumer
Financial  Services,  Information Leasing  Corporation  and  Provident
Commercial  Group,  and data processing expense associated  with  Year
2000 compliance.

                                 - 7 -
<PAGE>
The  following ratios compare Provident Financial's annualized returns
on  average  assets and average equity for the first three  months  of
1998 to the year 1997:
<TABLE>
<CAPTION>
                                                 Three Months Ended     Year Ended
                                                  March 31, 1998(1)  December 31, 1997
<S>                                                      <C>                <C>
  Net Earnings to Average Assets                          1.65%              1.67%
  Net Earnings to Average Shareholders' Equity           18.58%             20.32%
<FN>
  (1)Net earnings for the three months ended March 31, 1998 have been annualized.
</TABLE>

The   ratio   of   noninterest  expense  to  tax  equivalent   revenue
("efficiency  ratio")  was 57.5% for the first three  months  of  1998
compared to 50.1% for the first three months of 1997. For purposes  of
calculating  the efficiency ratio, noninterest expense  excludes  non-
recurring expenses. Tax equivalent revenue includes tax equivalent net
interest  income  and  noninterest income but  excludes  non-recurring
income and security gains or losses.

Nonperforming  assets  as  of March 31, 1998  were  $58.3  million,  a
decrease  of $.9 million compared to December 31, 1997. The  ratio  of
nonperforming  assets  to total loans, leases and  other  real  estate
owned  was 1.11% at March 31, 1998, compared to 1.17% at December  31,
1997.

Net Interest Income

See  Table  1  for net interest income on a tax equivalent  basis  and
Table  2  for  consolidated average balances, average  rates  and  net
interest margin.

Net  interest income on a tax equivalent basis increased approximately
$2.6  million  for the first three months of 1998 over the  comparable
period  in  1997. This increase resulted from a $2.5 million  increase
due  to changes in volume and a $.1 million increase caused by changes
in rates. Volume changes are caused by changes in the average balances
of  interest earning assets and interest bearing liabilities. The  net
interest  margin  was  3.99% for the first three  months  of  1998  as
compared  to  4.04% for the comparable period in 1997.  This  decrease
reflects  the  increase in the average rate paid on  interest  bearing
liabilities  of 10 basis points, more than offsetting the increase  in
the  average  rate  received on interest earning  assets  of  9  basis
points. The increase in Provident Financial's overall rate on interest
bearing liabilities was due primarily to the increase in the rate paid
on  Premium  Index savings deposits. The increase in the average  rate
received  on  interest  earning assets was  due  primarily  to  higher
average  rates received on residential and instalment loans.  Interest
rate swaps increased the net interest margin by 13 basis points and 27
basis  points  during  the  first  three  months  of  1998  and  1997,
respectively.

                                 - 8 -
<PAGE>
In  preparing the net interest margin tables, nonaccrual loan balances
are  included  in  the  average balances for loans  and  leases.  Fees
included  in  interest and fees on loans and leases during  the  first
quarter  of  1998  and  1997  were  $4.2  million  and  $3.9  million,
respectively.

Provision for Loan and Lease Losses

The  provision  for loan and lease losses was $5.0 million  and  $11.0
million  during the first quarter of 1998 and 1997, respectively.  The
decrease in the provision was primarily the result of lower net charge-
offs  incurring during the first three months of 1998 as  compared  to
the first three months of 1997.

Noninterest Income

Noninterest income increased $9.3 million during the first quarter  of
1998  compared to the same quarter in 1997. Service charges on deposit
accounts increased primarily as a result of increased fees received on
corporate  and  personal demand deposit accounts and  ATM  usage.  The
recognition  of gains and fees related to commercial lending  resulted
in  higher  other  service  charges and fee  revenue.  The  growth  in
operating  lease  income is the result of the expansion  of  Provident
Commercial  and Information Leasing lines of business, and the  excess
rental  income received over that paid on leased vehicles  which  were
sold  and subsequently leased back. Gain on sales of loans and  leases
decreased primarily as a result of a narrowing of interest rate spread
between the average rate received on the underlying loans and the rate
paid  to  security  holders. Partially offsetting the  lower  gain  on
nonconforming  residential loan sales was a gain recognized  from  the
sale  of  credit card loans. Security gains were recognized  primarily
from  the  sale of mortgage-backed securities. Other income  decreased
due  to the receipt of additional consideration in 1997 relating to  a
restructured loan.

Since  the  third  quarter of 1996, it has been Provident  Financial's
policy   to  sell  its  closed-end  nonconforming  residential   loans
originated by Provident Consumer. The recognition of gains on the sale
of  these  loans  have made a notable contribution  to  the  financial
performance  over  this time period. The following  is  a  summary  of
selected  operational data for Provident Consumer for  the  past  five
quarters (in millions):
<TABLE>
<CAPTION>
                                                  Quarter Ended
                             Mar. 1998  Dec. 1997  Sept. 1997 June 1997  Mar. 1997
<S>                             <C>        <C>        <C>        <C>        <C>
  Loan Originations             $191.6     $266.2     $230.3     $213.6     $143.3
  Loan Sales                     207.8      255.2      233.2      233.2      140.1
  Gain on Sale of Loans            8.0       10.2       13.8       15.5       10.5
  Interest and Fees on Loans       7.0        6.7        5.6        5.2        4.2
</TABLE>

Included  in  "Investment Securities Available for Sale" are  residual
interest  securities representing the present value of net cash  flows
due   Provident  Financial  from  loan  securitizations   and   sales.

                                 - 9 -
<PAGE>
Components  of  the  residual interest securities and  the  underlying
assumptions follow (dollars in thousands):
<TABLE>
<CAPTION>
                                                       Closed-End   Opened-End  Closed-End
                                                     Nonconforming  Conforming  Conforming
<S>                                                       <C>          <C>          <C>
  Estimated Cash Flows of Underlying Loans,
   Net of Payments to Certificate Holders                 $200,203     $10,327      $5,517
  Less:
    Off-Balance Sheet Allowance for Loan Losses            (41,523)       (504)       (595)
    Servicing Costs and Insurance Premiums                 (23,654)     (1,544)       (970)
    Discount to Present Value                              (33,352)     (1,199)       (545)
  Carrying Value of Residual Interest Securities          $101,674      $7,080      $3,407

  Assumptions Used (Weighted Average)
    Prepayment Speed (initial)                               10.70%      15.00%       n/a
    Prepayment Speed (ramps up to)                           27.00       15.00        n/a
    Repayment Rate (overall)                                  n/a         n/a        40.00%
    Provision for Loan Losses (annual basis)                  1.09        0.30        0.15
    Provision for Loan Losses (% of original balance)         3.63        0.79        0.30
    Discount Rate                                            11.47        9.36        9.23
</TABLE>

The  structure  for securitizing nonconforming residential  loans  was
changed  for  1998. Prior to 1998 securitizations, the  allowance  for
loan  loss  would be funded from future cash flows of  the  underlying
loans,  net of interest payments to the security holders. In 1998,  an
allowance  for loan losses of $4.3 million was funded at the beginning
of  the  transaction,  separately from the  cash  flows  of  the  loan
payments.

Noninterest Expense

Noninterest  expense increased $13.6 million during the first  quarter
of   1998  when  compared  to  1997.  Compensation  expense  increased
primarily  as  a  result of the expansion of Provident  Consumer,  the
acquisition  of  the  Florida banks and the continued  development  of
Value  Systems.  The larger volume of operating leases  originated  by
Provident  Commercial  and Information Leasing  has  resulted  in  the
higher  depreciation  expense of operating lease equipment.  Occupancy
expense  increased  primarily  in the Provident  Consumer  and  retail
distribution areas. Equipment expense increased primarily due  to  the
purchase  of  data  processing  and  voice  communications  equipment.
Professional  fees  have increased primarily in  the  areas  of  Value
Systems and Provident Consumer. Charges and fees decreased as a result
of  foreclosed  property  costs  incurred  during  1997.  Higher  data
processing  expense related to Year 2000 compliance  was  the  primary
reason for the increase in other expense.

Financial Condition

Investment Securities

Investment  securities increased $239.6 million during  1998  as  more
funds were invested in investment securities.

                                - 10 -
<PAGE>
Loans and Leases

Total   loans  and  leases  increased  $213.3  million  during   1998.
Commercial  loan growth of $258.0 million was the primary  reason  for
the  increase  in  total loans and leases. Instalment loans  decreased
$24.5  million  due to the sale of $38.3 million of credit  cards  and
residential  loans  decreased $22.1 million  due  primarily  to  sales
exceeding  originations of nonconforming residential  loans  by  $16.2
million.

The  following  table  shows the composition  of  the  commercial  and
financial loan category by industry type at March 31, 1998 (dollars in
millions):

                                                             Amount on
                    Type              Amount         %      Nonaccrual
  Manufacturing                       $621.5        21            $6.2
  Service Industries                   517.5        17             2.5
  Real Estate Operators/Investment     338.9        12             1.2
  Wholesale Trade                      263.7         9             3.4
  Retail Trade                         247.0         8             1.3
  Finance & Insurance                  150.0         5               -
  Transportation/Utilities             129.7         4            14.3
  Construction                         128.9         4              .5
  Automobile Dealers                   127.2         4               -
  Other(1)                             467.1        16             3.3
     Total                          $2,991.5       100           $32.7

  (1) Includes  various  kinds  of loans, such as small business loans
      and loans with balances under $100,000.

The  composition  of  the commercial mortgage  and  construction  loan
categories  by  property  type at March  31,  1998  is  shown  in  the
following table (dollars in millions):

                                                             Amount on
                    Type              Amount         %      Nonaccrual
  Shopping/Retail                     $162.8        21             $.3
  Office/Warehouse                     160.2        21               -
  Apartments                           123.7        16               -
  Residential Development              117.2        15               -
  Land                                  29.9         4               -
  Auto Sales and Service                28.4         4               -
  Industrial Plants                     13.0         2               -
  Hotels/Motels                         12.4         2               -
  Churches                              11.8         2               -
  Mobile Home Parks                      8.4         1               -
  Health Facilities                      7.6         1               -
  Other Commercial Properties           81.2        11               -
     Total                            $756.6       100             $.3

                                - 11 -
<PAGE>
Provident  Financial maintains a reserve for loan and lease losses  to
absorb  potential losses in its portfolio. Management's  determination
of  the adequacy of the reserve is based on reviews of specific  loans
and  leases,  credit loss experience, general economic conditions  and
other  pertinent factors. The reserve is maintained at a  level  which
management  considers to be adequate to absorb future loan  and  lease
losses.   Reserve   adjustments  needed  for   charge-offs   or   risk
characteristics in the lending portfolio are made through  changes  to
the  provision  for  loan and lease losses. Loans  and  leases  deemed
uncollectible  are  charged  off and deducted  from  the  reserve  and
recoveries on loans and leases previously charged off are added to the
reserve.

The  following table shows the progression of the reserve for loan and
lease losses (in thousands):

                                               1998              1997
  Balance at January 1                       $71,980           $66,693
  Provision for Loan and Lease Losses          5,000            11,000
  Loans and Leases Charged Off                (7,009)          (11,572)
  Recoveries                                   2,866             2,250
  Balance at March 31                        $72,837           $68,371

Net charge-offs totaled $4.1 million during the first three months  of
1998 compared to $9.3 million for the same time period in 1997. During
the  first quarter of 1998, net charge-offs for the commercial lending
portfolio  were $.8 million, consisting primarily of commercial  loans
and  equipment  leases.  Net  charge-offs  for  the  consumer  lending
portfolio  were $3.3 million consisting principally of auto loans  and
leases.  As  a  percentage of total loans and leases outstanding,  the
reserve  was  1.38% at March 31, 1998 compared to 1.42% and  1.35%  at
December 31, 1997 and March 31, 1997, respectively.

Table  3  shows  a comparison of the major components of nonperforming
assets  over  the past five quarters along with various asset  quality
ratios.  Nonperforming assets decreased $.9 million during  the  first
three  months  of  1998. Nonaccrual loans decreased $3.0  million  due
primarily   to  one  loan  being  brought  current,  one  loan   being
restructured  and now being classified as renegotiated, and  one  loan
being added. Renegotiated loans increased $9.0 million due to the loan
formerly on nonaccrual being restructured. Other real estate decreased
$6.9 million due primarily to two commercial properties being sold. At
March  31, 1998, nonperforming assets as a percentage of total  loans,
leases  and other real estate was 1.11% compared to 1.17% at  December
31, 1997.

Other Assets

Other  assets  increased  $180.4 million, or 58%,  to  $492.6  million
during the first quarter of 1998. The increase was due primarily to an
increase  in  receivables arising from security sales traded  but  not
settled until early April.

                                - 12 -
<PAGE>
Short-Term Debt

Short-term  debt  increased $291.6 million, or 36%,  to  $1.1  billion
during  the  first three months of 1998. The increase was due  to  the
purchase  of  term  federal funds and an increase in commercial  paper
borrowings.  The  amount of federal funds purchased changes  daily  as
cash is managed to meet reserve requirements and customer needs. After
funds have been allocated to meet lending and investment requirements,
any shortage is offset by the purchase of overnight federal funds.

Capital Resources and Adequacy

During  the first three months of 1998, shareholders' equity increased
$35.1  million, or 6%, to $672.4 million. The increase in  equity  was
primarily  the result of net income exceeding dividends paid  and  the
exercise  of stock options. Dividends of $8.6 million on common  stock
and  $198,000  on  preferred stock were paid in the first  quarter  of
1998.

The  following  table of ratios is important to the  analysis  of  the
adequacy of capital resources.
<TABLE>
<CAPTION>
                                                  Three Months Ended     Year Ended
                                                    March 31, 1998    December 31, 1997
<S>                                                         <C>                <C>
  Average Shareholders' Equity to Average Assets             8.89%              8.22%
  Preferred Dividend Payout to Net Earnings                   .65                .62
  Common Dividend Payout to Net Earnings                    28.15              25.62
  Tier 1 Leverage Ratio                                     10.14              10.13
  Tier 1 Capital to Risk-Weighted Assets                     9.87               9.81
  Total Risk-Based Capital To Risk-Weighted Assets          13.15              13.25
</TABLE>

Capital  expenditures  planned  by Provident  Financial  for  building
improvements  and  furniture  and  equipment  in  1998  are  currently
estimated to be approximately $19 million. Included in this amount are
projected  capital  expenditures for the purchase or  construction  of
computer  equipment  and  software, office  building  renovations  and
branch enhancements. Through March 31, 1998, approximately $13 million
of these expenditures have been made.

Liquidity

Adequate  liquidity  is  necessary to meet  the  borrowing  needs  and
deposit  withdrawal requirements of customers as well  as  to  satisfy
liabilities,  fund  operations  and support  asset  growth.  Provident
Financial  has  a  number of sources to provide for  liquidity  needs.
First,  liquidity needs can be met by the liquid assets on its balance
sheet  such as cash, deposits with other banks and federal funds sold.
Another  source is the generation of new deposits. Provident Financial
may  borrow  both short-term and long-term funds. Provident  Financial
has  an additional $687.5 million available for borrowing under  a  $1
billion  bank  notes program. Additional sources of liquidity  include
the  sale  of  investment securities and the sale  of  commercial  and
consumer loans and leases.

                                - 13 -
<PAGE>
The major source of liquidity for Provident Financial on a parent-only
basis  ("the  Parent")  is dividends paid to it by  its  subsidiaries.
Pursuant to Federal Reserve and state banking regulations, the maximum
amount available for dividend distribution to the Parent at March  31,
1998 by its banking subsidiaries was approximately $201.5 million. The
Parent has not received any dividends from its subsidiaries during the
first three months of 1998.

At  March  31,  1998,  the  Parent had $259.9  million  of  short-term
commercial  paper outstanding. A portion of commercial paper  proceeds
was   used  to  fund  investment  securities  and  short-term   loans.
Contractual  lines of credit totaling $175 million have been  obtained
by  the  Parent to support its commercial paper borrowings. Also,  the
Parent has $40 million in general purpose lines of credit. These lines
had  not  been  used  at March 31, 1998. The Parent had  approximately
$151.1  million in cash, interest earning deposits and  federal  funds
sold at March 31, 1998.

                                - 14 -
<PAGE>
Provident Financial Group, Inc. and Subsidiaries
Condensed Consolidated Statements Of Earnings
(unaudited)
(In Thousands)
Table 1.
                                                      Quarter Ended
                                                    March       March
                                                    1998        1997
Total Interest Income                             $146,288    $137,286
Taxable Equivalent Adjustment                           99          78

Taxable Equivalent Interest Income                 146,387     137,364
Total Interest Expense                              80,144      73,753

Net Interest Income                                 66,243      63,611
Provision for Loan and Lease Losses                  5,000      11,000

Taxable Equivalent Net Interest Income After
    Provision for Loan and Lease Losses             61,243      52,611

Noninterest Income                                  49,837      40,544
Noninterest Expense                                 64,631      51,022


Taxable Equivalent Earnings Before Income Taxes     46,449      42,133

Applicable Income Taxes                             15,950      14,748

Taxable Equivalent Adjustment                           99          78

Net Earnings                                       $30,400     $27,307
Net Earnings Applicable to Common Stock            $30,202     $27,149

                                - 15 -
<PAGE>
<TABLE>
Provident Financial Group, Inc. and Subsidiaries
Consolidated Average Balances, Rates and Yields
On a Fully Taxable Equivalent Basis
(unaudited)
(Dollars In Millions)
Table 2.
<CAPTION>
                                                                Quarter Ended
                                                       Mar. 31, 1998      Mar. 31, 1997
                                                      Average    Avg     Average    Avg
                                                      Balance    Rate    Balance    Rate
<S>                                                    <C>       <C>      <C>       <C>
Assets:
 Loans and Leases (Net of Unearned Income):
  Commercial Lending:
   Commercial and Financial                            $2,849     9.26%   $2,392     9.21%
   Mortgage                                               452     9.31       481     9.39
   Construction                                           311     8.90       280     8.69
   Lease Financing                                        343    11.75       241    11.07
  Consumer Lending:
   Instalment                                             626    10.63       909     9.67
   Residential                                            227    10.31       425     7.98
   Lease Financing                                        454     7.87       615     7.69
    Total Loans and Leases                              5,262     9.49     5,343     9.09
 Investment Securities:
  Taxable                                               1,432     6.41     1,018     6.90
  Tax-Exempt                                               10     6.92         8     4.45
    Total Investment Securities                         1,442     6.42     1,026     6.88
 Federal Funds Sold and Reverse
   Repurchase Agreements                                   29     5.48        15     5.78
    Total Earning Assets                                6,733     8.82     6,384     8.73
 Cash and Noninterest Bearing Deposits                    187                169
 Other Assets                                             445                208
    Total Assets                                       $7,365             $6,761
Liabilities and Shareholders' Equity:
 Deposits:
  Demand Deposits                                        $269     2.17      $258     1.97
  Savings Deposits                                        916     4.15       521     2.75
  Time Deposits                                         3,098     5.74     3,375     5.65
   Total Deposits                                       4,283     5.18     4,154     5.06
 Short-Term Debt:
  Federal Funds Purchased and
   Repurchase Agreements                                  693     5.40       441     5.24
  Commercial Paper                                        231     5.75       142     5.51
  Short-Term Notes Payable                                  2     6.75         1     5.96
   Total Short-Term Debt                                  926     5.49       584     5.31
 Long-Term Debt                                           681     6.41       779     6.30
 Junior Subordinated Debentures                            99     8.89        99     8.89
   Total Interest Bearing Liabilities                   5,989     5.43     5,616     5.33
 Noninterest Bearing Deposits                             528                447
 Other Liabilities                                        194                172
 Shareholders' Equity                                     654                526
   Total Liabilities and Shareholders' Equity          $7,365             $6,761

Net Interest Spread                                               3.39%              3.40%

Net Interest Margin                                               3.99%              4.04%
</TABLE>
                                - 16 -
<PAGE>
<TABLE>
Provident Financial Group, Inc. and Subsidiaries
Consolidated Quarterly Nonperforming Assets
(unaudited)
(Dollars In Thousands)
Table 3.
<CAPTION>
                                                   Quarter Ended
                                                       Mar.         Dec.         Sep.         June         Mar.
                                                       1998         1997         1997         1997         1997
<S>                                                  <C>          <C>          <C>          <C>          <C>
Nonaccrual Loans: (1)
 Commercial Lending:
   Commercial and Financial                            $32,746      $37,800      $28,551      $27,230      $14,597
   Mortgage                                                335          335          553            -          103
   Construction                                              -           27           87           27           71
   Lease Financing                                       7,046        4,798        5,481        7,292        4,980
 Consumer Lending:
   Instalment                                                -            -           14            -            -
   Residential                                           3,287        3,459        2,239        2,028        3,583
   Lease Financing                                           -            -            -            -            -
     Total Nonaccrual Loans                             43,414       46,419       36,925       36,577       23,334

Renegotiated Loans (2)                                   9,327          377          257          246          526
   Total Nonperforming Loans                            52,741       46,796       37,182       36,823       23,860

Other Real Estate and Equipment Owned:
   Commercial                                            4,330       11,207       11,088        8,820        5,191
   Closed bank branches                                      -            -            -            -            -
   Residential                                           1,124        1,079        1,662        3,369        3,752
   Multifamily                                               -            -            -            -            -
   Land                                                     92          110           15           68        1,615
     Total                                               5,546       12,396       12,765       12,257       10,558

     Total Nonperforming Assets                        $58,287      $59,192      $49,947      $49,080      $34,418

Loans 90 Days Past Due Still Accruing                  $17,109       $9,811      $10,504      $20,460      $11,848

Total Loans and Leases                               5,265,159    5,051,842    5,105,578    5,205,897    5,071,712

Reserve for Loan and Lease Losses                       72,837       71,980       75,242       78,296       68,371

Total Assets                                         7,699,995    7,123,659    7,079,578    6,985,162    6,780,351

Reserve for Loan and Lease Losses as a Percent of:
  Nonperforming Loans                                   138.10%      153.82%      202.36%      212.63%      286.55%
  Nonperforming Assets                                  124.96%      121.60%      150.64%      159.53%      198.65%
  Total Loans and Leases                                  1.38%        1.42%        1.47%        1.50%        1.35%

Nonperforming Loans as a % of Total
  Loans and Leases                                        1.00%         .93%         .73%         .71%         .47%


Nonperforming Assets as a Percent of:
  Total Loans, Leases  and Other Real Estate              1.11%        1.17%         .98%         .94%         .68%
  Total Assets                                             .76%         .83%         .71%         .70%         .51%
<FN>
(1) Provident Financial generally stops accruing interest on loans and leases when the payment of principal and/or
    interest is past due 90 days or more.
(2) Loans renegotiated to provide a reduction or deferral of interest or principal because of a
    deterioration in the financial position of the borrower.
</TABLE>
                                - 17 -
<PAGE>
                     PART II  -  OTHER INFORMATION



Item 6. Exhibits and Reports on Form 8-K

(a)  Exhibits filed:

       Exhibit 27.1 - Financial Data Schedule for March 31, 1998

       Exhibit 27.2 - Restated Financial Data Schedule for
                      March 31, 1997


All  other  items required in Part II of this form have  been  omitted
since they are not applicable or not required.

                                - 18 -
<PAGE>

                              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 Financial Group, Inc.
                                                  Registrant





Date:  May 14, 1998                         \s\ John R. Farrenkopf
                                              John R. Farrenkopf
                                              Vice President and
                                           Chief Financial Officer

                                - 19 -