<ARTICLE> 7 <LEGEND> THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FORM 10-Q FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <CIK> 0000035733 <NAME> FINANCIAL INDUSTRIES CORPORATION <MULTIPLIER> 1,000 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> SEP-30-1997 <DEBT-HELD-FOR-SALE> 82,075 <DEBT-CARRYING-VALUE> 0 <DEBT-MARKET-VALUE> 0 <EQUITIES> 4 <MORTGAGE> 0 <REAL-ESTATE> 7,1340 <TOTAL-INVEST> 116,018 <CASH> 839 <RECOVER-REINSURE> 9,150 <DEFERRED-ACQUISITION> 44,101 <TOTAL-ASSETS> 297,239 <POLICY-LOSSES> 60,204 <UNEARNED-PREMIUMS> 104 <POLICY-OTHER> 43,444 <POLICY-HOLDER-FUNDS> 5,177 <NOTES-PAYABLE> 55,329 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 1,169 <OTHER-SE> 101,468 <TOTAL-LIABILITY-AND-EQUITY> 297,239 <PREMIUMS> 30,284 <INVESTMENT-INCOME> 6,583 <INVESTMENT-GAINS> 0 <OTHER-INCOME> 2,091 <BENEFITS> 13,469 <UNDERWRITING-AMORTIZATION> 3,516 <UNDERWRITING-OTHER> 9,405 <INCOME-PRETAX> 8,549 <INCOME-TAX> 1,497 <INCOME-CONTINUING> 7,052 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 7,052 <EPS-PRIMARY> 1.26 <EPS-DILUTED> 1.26 <RESERVE-OPEN> 0 <PROVISION-CURRENT> 0 <PROVISION-PRIOR> 0 <PAYMENTS-CURRENT> 0 <PAYMENTS-PRIOR> 0 <RESERVE-CLOSE> 0 <CUMULATIVE-DEFICIENCY> 0