<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)