<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM THE QUARTERLY REPORT ON FORM 10-Q FOR THE FISCAL QUARTER
ENDED SEPTEMBER 30, 1996 OF MAHASKA INVESTMENT COMPANY AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                           9,049
<INT-BEARING-DEPOSITS>                           4,002
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                          0
<INVESTMENTS-CARRYING>                          31,767
<INVESTMENTS-MARKET>                            31,502
<LOANS>                                        117,638
<ALLOWANCE>                                    (1,447)
<TOTAL-ASSETS>                                 259,163
<DEPOSITS>                                     204,447
<SHORT-TERM>                                    18,425
<LIABILITIES-OTHER>                              2,913
<LONG-TERM>                                          0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        11,423
<OTHER-SE>                                      21,955
<TOTAL-LIABILITIES-AND-EQUITY>                 259,163
<INTEREST-LOAN>                                  2,759
<INTEREST-INVEST>                                  778
<INTEREST-OTHER>                                 2,474
<INTEREST-TOTAL>                                 6,011
<INTEREST-DEPOSIT>                               2,046
<INTEREST-EXPENSE>                               2,376
<INTEREST-INCOME-NET>                            3,635
<LOAN-LOSSES>                                      208
<SECURITIES-GAINS>                                (56)
<EXPENSE-OTHER>                                  2,109
<INCOME-PRETAX>                                  1,680
<INCOME-PRE-EXTRAORDINARY>                       1,101
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,101
<EPS-PRIMARY>                                     0.50
<EPS-DILUTED>                                     0.50
<YIELD-ACTUAL>                                   10.30
<LOANS-NON>                                      1,529
<LOANS-PAST>                                       678
<LOANS-TROUBLED>                                   375
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                               (1,267)
<CHARGE-OFFS>                                       33
<RECOVERIES>                                       (5)
<ALLOWANCE-CLOSE>                              (1,447)
<ALLOWANCE-DOMESTIC>                           (1,447)
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                        (1,332)