FORM 4
[ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

WALDYCH KENNETH J 		2. Issuer Name and Ticker or Trading Symbol

PROVIDENT BANKSHARES CORP [ (PBKS) ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
EVP & Sr. Credit Off. of Subs.
(Last)          (First)          (Middle)

114 EAST LEXINGTON STREET 		3. Date of Earliest Transaction (MM/DD/YYYY)

5/23/2009
(Street)

BALTIMORE, MD 21202
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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)
Code V Amount (A) or (D) Price
Common Stock   5/23/2009     D    5051   D   (1) 0.0000   D  
 
Common Stock   5/23/2009     D    220   D   (2) 0.0000   I   By Stock Award  
Common Stock   5/23/2009     D    3238   D   (3) 0.0000   I   By Stock Award IV  
Common Stock   5/23/2009     D    2770   D   (4) 0.0000   I   By Stock Award V  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy)   $37.0100   5/23/2009     D        5000    4/19/2007   (5) 4/19/2014   Common Stock   5000   $0   0   D  
 
Stock Options (right to buy)   $35.7000   5/23/2009     D        8670    2/21/2008   (6) 2/21/2015   Common Stock   8670   $0   0   D  
 
Stock Options (right to buy)   $32.6600   5/23/2009     D        1500    9/19/2008   (7) 9/19/2015   Common Stock   1500   $0   0   D  
 
Stock Options (right to buy)   $17.3700   5/23/2009     D        20000    2/20/2009   (8) 2/20/2016   Common Stock   20000   $0   0   D  
 
Stock Options (right to buy)   $7.0400   5/23/2009     D        19869    8/20/2009   (9) 8/20/2016   Common Stock   19869   $0   0   D  
 
Stock Options (right to buy)   $21.9600   5/23/2009     D        1500    12/19/2008   (10) 12/19/2017   Common Stock   1500   $0   0   D  
 

Explanation of Responses:
( 1)  Disposed of pursuant to merger agreement between issuer and M&T Bank Corporation in exchange for 866 shares of M&T Bank Corporation common stock having a market value of $46.73 per share on the closing date of the merger.
( 2)  Disposed of pursuant to merger agreement between issuer and M&T Bank Corporation in exchange for 37 shares of M&T Bank Corporation common stock having a market value of $46.73 per share on the closing date of the merger.
( 3)  Disposed of pursuant to merger agreement between issuer and M&T Bank Corporation in exchange for 555 shares of M&T Bank Corporation common stock having a market value of $46.73 per share on the closing date of the merger.
( 4)  Disposed of pursuant to merger agreement between issuer and M&T Bank Corporation in exchange for 475 shares of M&T Bank Corporation common stock having a market value of $46.73 per share on the closing date of the merger.
( 5)  This option, which provided for vesting in four annual installments commencing on April 19, 2007, was assumed by M&T Bank Corporation in the merger and replaced with an option to purchase 858 shares of M&T Bank Corporation common stock for $215.64 per share.
( 6)  This option, which provided for vesting in four annual installments commencing on February 21, 2008, was assumed by M&T Bank Corporation in the merger and replaced with an option to purchase 1,487 shares of M&T Bank Corporation common stock for $208.01 per share.
( 7)  This option, which provided for vesting in four annual installments commencing on September 19, 2008, was assumed by M&T Bank Corporation in the merger and replaced with an option to purchase 257 shares of M&T Bank Corporation common stock for $190.30 per share.
( 8)  This option, which provided for vesting in four annual installments commencing on February 20, 2009, was assumed by M&T Bank Corporation in the merger and replaced with an option to purchase 3,432 shares of M&T Bank Corporation common stock for $101.21 per share.
( 9)  This option, which provided for vesting in four annual installments commencing on August 20, 2009, was assumed by M&T Bank Corporation in the merger and replaced with an option to purchase 3,410 shares of M&T Bank Corporation common stock for $41.02 per share.
( 10)  This option, which provided for vesting in four annual installments commencing on December 19, 2008, was assumed by M&T Bank Corporation in the merger and replaced with an option to purchase 257 shares of M&T Bank Corporation common stock for $127.95 per share.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
WALDYCH KENNETH J
114 EAST LEXINGTON STREET
BALTIMORE, MD 21202

EVP & Sr. Credit Off. of Subs.

Signatures
By: Robert L. Davis, Power of Attorney 5/23/2009
** 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.
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