FORM 4
[ ] 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 *

GEISEL GARY N 		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
__ X __ Officer (give title below)      _____ Other (specify below)
Chairman and CEO
(Last)          (First)          (Middle)

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

8/20/2008
(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   8/20/2008     A    70227   A $0   70227   I   By Stock Award V   (1)
Common Stock                  44031   D  
 
Common Stock                  9822   I   By 401(k)  
Common Stock                  950   I   By Stock Award   (2)
Common Stock                  1945   I   By Stock Award II   (3)
Common Stock                  2772   I   By Stock Award III   (4)

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)   $27.76                   2/13/1998   (5) 2/13/2008   Common Stock   3688     3688   D  
 
Non-Qualified Stock Option (right to buy)   $18.19                   10/20/1999   (5) 10/20/2009   Common Stock   17563     17563   D  
 
Non-Qualified Stock Option (right to buy)   $18.51                   12/20/2000   (5) 12/20/2010   Common Stock   21000     21000   D  
 
Non-Qualified Stock Option (right to buy)   $20.87                   3/21/2001   (5) 3/21/2011   Common Stock   52500     52500   D  
 
Non-Qualified Stock Option (right to buy)   $24.68                   1/16/2003   (5) 1/16/2012   Common Stock   15000     15000   D  
 
Non-Qualified Stock Option (right to buy)   $33.66                   2/16/2006   2/16/2013   Common Stock   20000     20000   D  
 
Non-Qualified Stock Option (right to buy)   $23.88                   4/16/2004   (5) 4/16/2013   Common Stock   25000     25000   D  
 
Non-Qualified Stock Options (right to buy)   $36.00                   2/15/2007   (6) 2/15/2014   Common Stock   20619     20619   D  
 
Non-Qualified Stock Options (right-to-buy)   $32.22                   2/18/2004   (5) 2/18/2014   Common Stock   40000     40000   D  
 
Stock Options (right to buy)   $35.70                   2/21/2008   (7) 2/21/2015   Common Stock   36330     36330   D  
 

Explanation of Responses:
( 1)  Stock Awards granted pursuant to the Provident Bankshares Corporation 2004 Equity Compensation Plan vest 1/3 based upon time and 2/3 based upon stock performance measures. The time vesting portion is 50% (of 1/3) on August 20, 2009 and the remaining 50% (of 1/3) on August 20, 2010. The performance measure for these stock awards is based upon the average closing price of the stock for the 10 trading days prior to the anniversaries. 50% (of 2/3) is calcuated for vesting on August 20, 2009 and the remaining 50% (of 2/3) is calculated on August 20, 2010. Shares not vested on either of these dates are forfeited. Shares forfeited on August 20, 2009 may not be recaptured on August 20, 2010, regardless of stock price performance.
( 2)  Stock Awards granted pursuant to the Provident Bankshares Corporation 2004 Equity Compensation Plan vest in four annual installments commencing on February 16, 2006.
( 3)  Stock Awards granted pursuant to the Provident Bankshares Corporation 2004 Equity Compensation Plan vest in four annual installments commencing on February 15, 2007.
( 4)  Stock Awards granted pursuant to the Provident Bankshares Corporation 2004 Equity Compensation Plan vest in four annual installments commencing on February 21, 2008.
( 5)  Non-Qualified Stock Options granted pursuant to the Provident Bankshares Corporation Amended and Restated Stock Option Plan are fully vested and exercisable.
( 6)  Stock Options granted pursuant to the Provident Bankshares Corporation 2004 Equity Compensation Plan vest in four annual installments commencing on February 15, 2007.
( 7)  Stock Options granted pursuant to the Provident Bankshares Corporation 2004 Equity Compensation Plan vest in four annual installments commencing on February 21, 2008.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
GEISEL GARY N
114 EAST LEXINGTON STREET
BALTIMORE, MD 21202 		X
Chairman and CEO

Signatures
By: Robert L. Davis, Power of Attorney 8/22/2008
** 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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