<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE MARCH
31, 1998 FORM 10-Q FOR IOWA FIRST BANCSHARES CORP AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                          12,852
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                21,980
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                     61,893
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                        222,592
<ALLOWANCE>                                      2,616
<TOTAL-ASSETS>                                 325,931
<DEPOSITS>                                     254,310
<SHORT-TERM>                                     5,379
<LIABILITIES-OTHER>                              3,976
<LONG-TERM>                                     33,335
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           200
<OTHER-SE>                                      28,731
<TOTAL-LIABILITIES-AND-EQUITY>                 325,931
<INTEREST-LOAN>                                  4,425
<INTEREST-INVEST>                                  920
<INTEREST-OTHER>                                   226
<INTEREST-TOTAL>                                 5,571
<INTEREST-DEPOSIT>                               2,340
<INTEREST-EXPENSE>                               2,899
<INTEREST-INCOME-NET>                            2,672
<LOAN-LOSSES>                                       18
<SECURITIES-GAINS>                                   4
<EXPENSE-OTHER>                                  1,833
<INCOME-PRETAX>                                  1,237
<INCOME-PRE-EXTRAORDINARY>                         840
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       840
<EPS-PRIMARY>                                      .46
<EPS-DILUTED>                                      .46
<YIELD-ACTUAL>                                       0
<LOANS-NON>                                          0
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                 2,604
<CHARGE-OFFS>                                        6
<RECOVERIES>                                         0
<ALLOWANCE-CLOSE>                                2,616
<ALLOWANCE-DOMESTIC>                             2,616
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0