<ARTICLE> 9 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FORM THE SEPTEMBER 30, 1997 10-Q OF HILLS BANCORPORATION 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> 16,236 <INT-BEARING-DEPOSITS> 0 <FED-FUNDS-SOLD> 207 <TRADING-ASSETS> 0 <INVESTMENTS-HELD-FOR-SALE> 111,441 <INVESTMENTS-CARRYING> 25,424 <INVESTMENTS-MARKET> 25,770 <LOANS> 422,783 <ALLOWANCE> 7,854 <TOTAL-ASSETS> 592,085 <DEPOSITS> 468,852 <SHORT-TERM> 31,104 <LIABILITIES-OTHER> 4,172 <LONG-TERM> 40,764 <PREFERRED-MANDATORY> 7,058 <PREFERRED> 0 <COMMON> 9,042 <OTHER-SE> 41,093 <TOTAL-LIABILITIES-AND-EQUITY> 592,085 <INTEREST-LOAN> 25,460 <INTEREST-INVEST> 5,944 <INTEREST-OTHER> 134 <INTEREST-TOTAL> 31,538 <INTEREST-DEPOSIT> 14,264 <INTEREST-EXPENSE> 16,559 <INTEREST-INCOME-NET> 14,979 <LOAN-LOSSES> 785 <SECURITIES-GAINS> 992 <EXPENSE-OTHER> 11,539 <INCOME-PRETAX> 7,128 <INCOME-PRE-EXTRAORDINARY> 5,299 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 5,299 <EPS-PRIMARY> 3.58 <EPS-DILUTED> 3.58 <YIELD-ACTUAL> 0 <LOANS-NON> 0 <LOANS-PAST> 963 <LOANS-TROUBLED> 0 <LOANS-PROBLEM> 0 <ALLOWANCE-OPEN> 7,311 <CHARGE-OFFS> 242 <RECOVERIES> 0 <ALLOWANCE-CLOSE> 7,854 <ALLOWANCE-DOMESTIC> 7,854 <ALLOWANCE-FOREIGN> 0 <ALLOWANCE-UNALLOCATED> 0