<ARTICLE> 9 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE SEPTEMBER 30, 1999 FORM 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-31-1999 <PERIOD-END> SEP-30-1999 <CASH> 17,344 <INT-BEARING-DEPOSITS> 0 <FED-FUNDS-SOLD> 206 <TRADING-ASSETS> 0 <INVESTMENTS-HELD-FOR-SALE> 131,036 <INVESTMENTS-CARRYING> 24,045 <INVESTMENTS-MARKET> 24,204 <LOANS> 545,624 <ALLOWANCE> 9,227 <TOTAL-ASSETS> 738,568 <DEPOSITS> 548,843 <SHORT-TERM> 26,689 <LIABILITIES-OTHER> 4,888 <LONG-TERM> 88,700 <PREFERRED-MANDATORY> 10,911 <PREFERRED> 0 <COMMON> 9,785 <OTHER-SE> 48,772 <TOTAL-LIABILITIES-AND-EQUITY> 738,568 <INTEREST-LOAN> 30,624 <INTEREST-INVEST> 6,472 <INTEREST-OTHER> 435 <INTEREST-TOTAL> 37,531 <INTEREST-DEPOSIT> 15,498 <INTEREST-EXPENSE> 19,221 <INTEREST-INCOME-NET> 18,310 <LOAN-LOSSES> 612 <SECURITIES-GAINS> (214) <EXPENSE-OTHER> 13,391 <INCOME-PRETAX> 9,072 <INCOME-PRE-EXTRAORDINARY> 6,278 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 6,278 <EPS-BASIC> 4.20 <EPS-DILUTED> 4.17 <YIELD-ACTUAL> 0 <LOANS-NON> 0 <LOANS-PAST> 1,083 <LOANS-TROUBLED> 0 <LOANS-PROBLEM> 9,343 <ALLOWANCE-OPEN> 8,856 <CHARGE-OFFS> 241 <RECOVERIES> 0 <ALLOWANCE-CLOSE> 9,227 <ALLOWANCE-DOMESTIC> 9,227 <ALLOWANCE-FOREIGN> 0 <ALLOWANCE-UNALLOCATED> 0