<ARTICLE> 9 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FORM THE MARCH 31, 1997 FORM 10-Q OF HILLS BANCORPORATION 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> 12,250 <INT-BEARING-DEPOSITS> 0 <FED-FUNDS-SOLD> 207 <TRADING-ASSETS> 0 <INVESTMENTS-HELD-FOR-SALE> 114,558 <INVESTMENTS-CARRYING> 23,256 <INVESTMENTS-MARKET> 23,348 <LOANS> 390,167 <ALLOWANCE> 7,296 <TOTAL-ASSETS> 555,623 <DEPOSITS> 448,926 <SHORT-TERM> 17,977 <LIABILITIES-OTHER> 4,277 <LONG-TERM> 30,765 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 8,990 <OTHER-SE> 38,112 <TOTAL-LIABILITIES-AND-EQUITY> 555,623 <INTEREST-LOAN> 8,041 <INTEREST-INVEST> 1,967 <INTEREST-OTHER> 41 <INTEREST-TOTAL> 10,049 <INTEREST-DEPOSIT> 4,603 <INTEREST-EXPENSE> 5,222 <INTEREST-INCOME-NET> 4,827 <LOAN-LOSSES> 195 <SECURITIES-GAINS> 0 <EXPENSE-OTHER> 3,460 <INCOME-PRETAX> 2,297 <INCOME-PRE-EXTRAORDINARY> 1,611 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,611 <EPS-PRIMARY> 1.09 <EPS-DILUTED> 1.09 <YIELD-ACTUAL> 0 <LOANS-NON> 376 <LOANS-PAST> 929 <LOANS-TROUBLED> 0 <LOANS-PROBLEM> 6,435 <ALLOWANCE-OPEN> 7,311 <CHARGE-OFFS> 210 <RECOVERIES> 0 <ALLOWANCE-CLOSE> 7,296 <ALLOWANCE-DOMESTIC> 7,296 <ALLOWANCE-FOREIGN> 0 <ALLOWANCE-UNALLOCATED> 0