<ARTICLE> BD <LEGEND> This Schedule contains summary financial information extracted from (a) Consolidated Statement of Financial Conditions March 31, 1997 and Consolidated Statement of Income -- Three Months ended March 31, 1997 and is qualified in its entirety by reference to such (b) 10Q March 31, 1997. </LEGEND> <MULTIPLIER> 1,000 <CIK> 0000083125 <NAME> First Montauk Financial Corp. <PERIOD-TYPE> 3-mos <FISCAL-YEAR-END> Dec-31-1997 <PERIOD-START> Jan-1-1997 <PERIOD-END> Mar-31-1997 <CASH> 695 <RECEIVABLES> 602 <SECURITIES-RESALE> 0 <SECURITIES-BORROWED> 0 <INSTRUMENTS-OWNED> 2,351 <PP&E> 1,146 <TOTAL-ASSETS> 8,278 <SHORT-TERM> 0 <PAYABLES> 2,923 <REPOS-SOLD> 0 <SECURITIES-LOANED> 0 <INSTRUMENTS-SOLD> 67 <LONG-TERM> 428 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 3,806 <OTHER-SE> 594 <TOTAL-LIABILITY-AND-EQUITY> 8,278 <TRADING-REVENUE> 1,396 <INTEREST-DIVIDENDS> 248 <COMMISSIONS> 6,559 <INVESTMENT-BANKING-REVENUES> 139 <FEE-REVENUE> 0 <INTEREST-EXPENSE> 15 <COMPENSATION> 6,362 <INCOME-PRETAX> 433 <INCOME-PRE-EXTRAORDINARY> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 257 <EPS-PRIMARY> .03 <EPS-DILUTED> .03