<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, 1997 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-31-1997
<PERIOD-END>                               SEP-30-1997
<CASH>                                           8,187
<INT-BEARING-DEPOSITS>                           1,873
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                          0
<INVESTMENTS-CARRYING>                          22,320
<INVESTMENTS-MARKET>                            22,328
<LOANS>                                        138,550
<ALLOWANCE>                                    (1,740)
<TOTAL-ASSETS>                                 256,790
<DEPOSITS>                                     205,151
<SHORT-TERM>                                    13,100
<LIABILITIES-OTHER>                              3,060
<LONG-TERM>                                          0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        11,423
<OTHER-SE>                                      24,056
<TOTAL-LIABILITIES-AND-EQUITY>                 256,790
<INTEREST-LOAN>                                  3,195
<INTEREST-INVEST>                                  708
<INTEREST-OTHER>                                 2,152
<INTEREST-TOTAL>                                 6,055
<INTEREST-DEPOSIT>                               2,100
<INTEREST-EXPENSE>                               2,339
<INTEREST-INCOME-NET>                            3,716
<LOAN-LOSSES>                                      146
<SECURITIES-GAINS>                                   0
<EXPENSE-OTHER>                                  2,121
<INCOME-PRETAX>                                  1,921
<INCOME-PRE-EXTRAORDINARY>                       1,246
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,246
<EPS-PRIMARY>                                      .57
<EPS-DILUTED>                                      .57
<YIELD-ACTUAL>                                   10.32
<LOANS-NON>                                        719
<LOANS-PAST>                                       309
<LOANS-TROUBLED>                                   384
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                               (1,619)
<CHARGE-OFFS>                                       30
<RECOVERIES>                                       (5)
<ALLOWANCE-CLOSE>                              (1,740)
<ALLOWANCE-DOMESTIC>                           (1,740)
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                        (1,740)