<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from the Form 10-Q for the period ending March 31, 1997 and is qualified in its entirety by reference to such 10-Q. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> MAR-31-1997 <CASH> 3,520 <SECURITIES> 27,559 <RECEIVABLES> 0<F1> <ALLOWANCES> 0<F1> <INVENTORY> 0 <CURRENT-ASSETS> 86,394 <PP&E> 0<F1> <DEPRECIATION> 0<F1> <TOTAL-ASSETS> 232,371 <CURRENT-LIABILITIES> 18,431 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 7,500 <OTHER-SE> 114,363 <TOTAL-LIABILITY-AND-EQUITY> 232,371 <SALES> 0 <TOTAL-REVENUES> 42,105 <CGS> 0 <TOTAL-COSTS> 39,849 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0<F1> <INTEREST-EXPENSE> 837 <INCOME-PRETAX> 5,519 <INCOME-TAX> 6,942 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (2,217) <EPS-PRIMARY> (.34) <EPS-DILUTED> 0<F2> <FN> <F1>Disclosure not required on interim financial statements <F2>Computation not applicable </FN>