<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FORM
10-Q'S OF IOWA FIRST BANCSHARES CORP. AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATMENTS
</LEGEND>
<RESTATED> 
<MULTIPLIER> 1,000
       
                                                                       
<PERIOD-TYPE>                   3-MOS                   6-MOS                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1997             DEC-31-1997             DEC-31-1997
<PERIOD-END>                               MAR-31-1997             JUN-30-1997             SEP-30-1997
<CASH>                                          12,344                  13,799                  12,303
<INT-BEARING-DEPOSITS>                               0                       0                       0
<FED-FUNDS-SOLD>                                12,130                   8,100                   3,540
<TRADING-ASSETS>                                     0                       0                       0
<INVESTMENTS-HELD-FOR-SALE>                     68,259                  69,326                  69,222
<INVESTMENTS-CARRYING>                               0                       0                       0
<INVESTMENTS-MARKET>                                 0                       0                       0
<LOANS>                                        189,577                 194,426                 205,249
<ALLOWANCE>                                      2,821                   2,739                   2,647
<TOTAL-ASSETS>                                 287,046                 291,310                 296,879
<DEPOSITS>                                     240,902                 240,153                 239,795
<SHORT-TERM>                                     5,917                  22,671                  27,707
<LIABILITIES-OTHER>                              1,929                   2,305                   2,121
<LONG-TERM>                                     12,577                       0                       0
<PREFERRED-MANDATORY>                                0                       0                       0
<PREFERRED>                                          0                       0                       0
<COMMON>                                           200                     200                     200
<OTHER-SE>                                      25,541                  26,251                  27,056
<TOTAL-LIABILITIES-AND-EQUITY>                 287,046                 291,310                 296,879
<INTEREST-LOAN>                                  3,913                   7,989                  12,250
<INTEREST-INVEST>                                  973                   1,990                   3,013
<INTEREST-OTHER>                                    96                     250                     314
<INTEREST-TOTAL>                                 4,982                  10,229                  15,577
<INTEREST-DEPOSIT>                               2,137                   4,410                   6,701
<INTEREST-EXPENSE>                               2,383                   4,975                   7,658
<INTEREST-INCOME-NET>                            2,599                   5,254                   7,919
<LOAN-LOSSES>                                        3                       4                       4
<SECURITIES-GAINS>                                  11                     (4)                     (1)
<EXPENSE-OTHER>                                  1,721                   3,561                   5,581
<INCOME-PRETAX>                                  1,280                   2,516                   3,592
<INCOME-PRE-EXTRAORDINARY>                         874                   1,711                   2,446
<EXTRAORDINARY>                                      0                       0                       0
<CHANGES>                                            0                       0                       0
<NET-INCOME>                                       874                   1,711                   2,446
<EPS-PRIMARY>                                      .50                     .97                    1.39
<EPS-DILUTED>                                      .49                     .95                    1.36
<YIELD-ACTUAL>                                       0                       0                       0
<LOANS-NON>                                      1,443                   1,034                       0
<LOANS-PAST>                                       263                     483                       0
<LOANS-TROUBLED>                                     0                       0                       0
<LOANS-PROBLEM>                                      0                       0                       0
<ALLOWANCE-OPEN>                                 2,803                   2,803                   2,803
<CHARGE-OFFS>                                        0                      68                     160
<RECOVERIES>                                        15                       0                       0
<ALLOWANCE-CLOSE>                                2,821                   2,739                   2,647
<ALLOWANCE-DOMESTIC>                             2,821                   2,739                   2,647
<ALLOWANCE-FOREIGN>                                  0                       0                       0
<ALLOWANCE-UNALLOCATED>                              0                       0                       0