Provident Bankshares, a Baltimore community bank, is selling a significant chunk of new stock in itself to European investors.

Provident, with $1.8 billion of assets, is selling 550,000 shares of common stock to 35 institutional investors in Europe and the United Kingdom. The offering will amount to about 7.8% of Provident's 7,038,008 shares, more if overallotments are exercised.

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