<ARTICLE> 9 <LEGEND> SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS. </LEGEND> <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> MAR-31-1997 <CASH> 7,095,766 <INT-BEARING-DEPOSITS> 0 <FED-FUNDS-SOLD> 2,200,000 <TRADING-ASSETS> 241,281 <INVESTMENTS-HELD-FOR-SALE> 155,982,915 <INVESTMENTS-CARRYING> 0 <INVESTMENTS-MARKET> 0 <LOANS> 67,483,877 <ALLOWANCE> 1,192,001 <TOTAL-ASSETS> 244,106,718 <DEPOSITS> 186,720,433 <SHORT-TERM> 1,314,937 <LIABILITIES-OTHER> 2,365,435 <LONG-TERM> 25,659,722 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 22,021 <OTHER-SE> 28,024,170 <TOTAL-LIABILITIES-AND-EQUITY> 244,106,718 <INTEREST-LOAN> 1,528,675 <INTEREST-INVEST> 3,249,105 <INTEREST-OTHER> 0 <INTEREST-TOTAL> 4,777,780 <INTEREST-DEPOSIT> 1,744,288 <INTEREST-EXPENSE> 2,092,035 <INTEREST-INCOME-NET> 2,685,745 <LOAN-LOSSES> 25,000 <SECURITIES-GAINS> 193,460 <EXPENSE-OTHER> 1,597,286 <INCOME-PRETAX> 1,615,819 <INCOME-PRE-EXTRAORDINARY> 1,615,819 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,154,819 <EPS-PRIMARY> .54 <EPS-DILUTED> .54 <YIELD-ACTUAL> 4.99 <LOANS-NON> 832,817 <LOANS-PAST> 1,198,049 <LOANS-TROUBLED> 0 <LOANS-PROBLEM> 1,968,562 <ALLOWANCE-OPEN> 1,191,171 <CHARGE-OFFS> 51,392 <RECOVERIES> 27,222 <ALLOWANCE-CLOSE> 1,192,001 <ALLOWANCE-DOMESTIC> 1,192,001 <ALLOWANCE-FOREIGN> 0 <ALLOWANCE-UNALLOCATED> 0