<ARTICLE> 9 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE MARCH 31, 1998 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-31-1998 <PERIOD-END> MAR-31-1998 <CASH> 14,304 <INT-BEARING-DEPOSITS> 0 <FED-FUNDS-SOLD> 18,262 <TRADING-ASSETS> 0 <INVESTMENTS-HELD-FOR-SALE> 111,258 <INVESTMENTS-CARRYING> 23,542 <INVESTMENTS-MARKET> 23,947 <LOANS> 439,049 <ALLOWANCE> 8,055 <TOTAL-ASSETS> 627,475 <DEPOSITS> 480,657 <SHORT-TERM> 21,917 <LIABILITIES-OTHER> 4,757 <LONG-TERM> 60,764 <PREFERRED-MANDATORY> 7,842 <PREFERRED> 0 <COMMON> 9,070 <OTHER-SE> 42,468 <TOTAL-LIABILITIES-AND-EQUITY> 627,475 <INTEREST-LOAN> 9,175 <INTEREST-INVEST> 2,015 <INTEREST-OTHER> 247 <INTEREST-TOTAL> 11,437 <INTEREST-DEPOSIT> 5,026 <INTEREST-EXPENSE> 6,139 <INTEREST-INCOME-NET> 5,298 <LOAN-LOSSES> 204 <SECURITIES-GAINS> 0 <EXPENSE-OTHER> 3,900 <INCOME-PRETAX> 2,610 <INCOME-PRE-EXTRAORDINARY> 1,844 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,844 <EPS-PRIMARY> 1.26 <EPS-DILUTED> 1.24 <YIELD-ACTUAL> 0 <LOANS-NON> 0 <LOANS-PAST> 1,259 <LOANS-TROUBLED> 0 <LOANS-PROBLEM> 0 <ALLOWANCE-OPEN> 8,010 <CHARGE-OFFS> 159 <RECOVERIES> 0 <ALLOWANCE-CLOSE> 8,055 <ALLOWANCE-DOMESTIC> 8,055 <ALLOWANCE-FOREIGN> 0 <ALLOWANCE-UNALLOCATED> 0