<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,
1998 OF MAHASKA INVESTMENT COMPANY AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<PERIOD-TYPE> 3-MOS 3-MOS
<FISCAL-YEAR-END> DEC-31-1998 DEC-31-1997
<PERIOD-END> SEP-30-1998 SEP-30-1997
<CASH> 11,951 8,187
<INT-BEARING-DEPOSITS> 76 1,873
<FED-FUNDS-SOLD> 1,955 0
<TRADING-ASSETS> 0 0
<INVESTMENTS-HELD-FOR-SALE> 0 0
<INVESTMENTS-CARRYING> 16,698 22,320
<INVESTMENTS-MARKET> 16,851 22,328
<LOANS> 166,250 138,550
<ALLOWANCE> (1,873) (1,740)
<TOTAL-ASSETS> 293,949 256,790
<DEPOSITS> 220,557 205,151
<SHORT-TERM> 32,824 13,100
<LIABILITIES-OTHER> 2,635 3,060
<LONG-TERM> 0 0
<COMMON> 19,038 11,423
<PREFERRED-MANDATORY> 0 0
<PREFERRED> 0 0
<OTHER-SE> 18,895 24,056
<TOTAL-LIABILITIES-AND-EQUITY> 293,949 256,790
<INTEREST-LOAN> 3,986 11,038
<INTEREST-INVEST> 635 1,889
<INTEREST-OTHER> 1,563 6,529
<INTEREST-TOTAL> 6,184 19,456
<INTEREST-DEPOSIT> 2,247 6,633
<INTEREST-EXPENSE> 2,629 7,674
<INTEREST-INCOME-NET> 3,555 11,782
<LOAN-LOSSES> 307 594
<SECURITIES-GAINS> 0 26
<EXPENSE-OTHER> 2,245 6,680
<INCOME-PRETAX> 1,518 5,906
<INCOME-PRE-EXTRAORDINARY> 977 3,781
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> 977 3,781
<EPS-PRIMARY> 0.27 1.03
<EPS-DILUTED> 0.26 0.98
<YIELD-ACTUAL> 9.58 10.29
<LOANS-NON> 1,147 719
<LOANS-PAST> 367 309
<LOANS-TROUBLED> 165 384
<LOANS-PROBLEM> 0 0
<ALLOWANCE-OPEN> (1,736) (1,816)
<CHARGE-OFFS> 171 552
<RECOVERIES> (1) (15)
<ALLOWANCE-CLOSE> (1,873) (1,873)
<ALLOWANCE-DOMESTIC> (1,873) (1,873)
<ALLOWANCE-FOREIGN> 0 0
<ALLOWANCE-UNALLOCATED> (1,873) (1,873)