Exhibit 23

                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS


The Board of Directors
Mahaska Investment Company:

We consent to the incorporation by reference in the Mahaska  Investment  Company
Form 8-K dated October 14, 1999,  our report dated January 22, 1999,  except for
note 16 which is as of February 2, 1999,  relating to the  consolidated  balance
sheets of Midwest Bancshares,  Inc. and Subsidiaries as of December 31, 1998 and
1997,  and the related  consolidated  statements  of  operations,  stockholders'
equity  and  comprehensive  income,  and cash flows for each of the years in the
three-year period ended December 31, 1998.


Des Moines, Iowa
October 14, 1999