<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE MARCH
31, 1996 10-Q OF IOWA FIRST BANCSHARES AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                          12,410
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                23,365
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                     65,093
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                        171,781
<ALLOWANCE>                                      2,383
<TOTAL-ASSETS>                                 277,278
<DEPOSITS>                                     240,510
<SHORT-TERM>                                    11,370
<LIABILITIES-OTHER>                              2,087
<LONG-TERM>                                          0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           200
<OTHER-SE>                                      23,111
<TOTAL-LIABILITIES-AND-EQUITY>                 277,278
<INTEREST-LOAN>                                  3,690
<INTEREST-INVEST>                                  919
<INTEREST-OTHER>                                   293
<INTEREST-TOTAL>                                 4,902
<INTEREST-DEPOSIT>                               2,274
<INTEREST-EXPENSE>                               2,429
<INTEREST-INCOME-NET>                            2,473
<LOAN-LOSSES>                                       15
<SECURITIES-GAINS>                                   0
<EXPENSE-OTHER>                                  1,671
<INCOME-PRETAX>                                  1,174
<INCOME-PRE-EXTRAORDINARY>                         792
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       792
<EPS-PRIMARY>                                     1.34
<EPS-DILUTED>                                     1.34
<YIELD-ACTUAL>                                       0
<LOANS-NON>                                          0
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                 2,309
<CHARGE-OFFS>                                        0
<RECOVERIES>                                         0
<ALLOWANCE-CLOSE>                                2,383
<ALLOWANCE-DOMESTIC>                             2,383
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0