<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
THE QUARTERLY REPORT ON FORM 10-Q FOR TEH FISCAL QUARTER ENDED
MARCH 31, 1997 OF MAHASKA INVESTMENT COMPANY AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                           9,635
<INT-BEARING-DEPOSITS>                           1,284
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                          0
<INVESTMENTS-CARRYING>                          26,427
<INVESTMENTS-MARKET>                            26,280
<LOANS>                                        124,052
<ALLOWANCE>                                    (1,578)
<TOTAL-ASSETS>                                 254,946
<DEPOSITS>                                     207,686
<SHORT-TERM>                                     9,810
<LIABILITIES-OTHER>                              2,657
<LONG-TERM>                                          0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        11,423
<OTHER-SE>                                      23,370
<TOTAL-LIABILITIES-AND-EQUITY>                 254,946
<INTEREST-LOAN>                                  2,720
<INTEREST-INVEST>                                  786
<INTEREST-OTHER>                                 2,530
<INTEREST-TOTAL>                                 6,036
<INTEREST-DEPOSIT>                               2,029
<INTEREST-EXPENSE>                               2,193
<INTEREST-INCOME-NET>                            3,843
<LOAN-LOSSES>                                      128
<SECURITIES-GAINS>                                   0
<EXPENSE-OTHER>                                  2,002
<INCOME-PRETAX>                                  2,144
<INCOME-PRE-EXTRAORDINARY>                       1,378
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,378
<EPS-PRIMARY>                                     0.62
<EPS-DILUTED>                                     0.62
<YIELD-ACTUAL>                                   10.77
<LOANS-NON>                                      1,031
<LOANS-PAST>                                       199
<LOANS-TROUBLED>                                   356
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                               (1,491)
<CHARGE-OFFS>                                       64
<RECOVERIES>                                      (23)
<ALLOWANCE-CLOSE>                              (1,578)
<ALLOWANCE-DOMESTIC>                           (1,578)
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                        (1,224)