<ARTICLE>                     5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM REGISTRANTS
ANNUAL REPORT ON FORM 10K AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO    
THE FINANCIAL STATEMENTS IN SUCH REPORT.                                      
</LEGEND>
       
                             
<PERIOD-TYPE>                         12-MOS 
<FISCAL-YEAR-END>                DEC-31-1997 
<PERIOD-START>                   JAN-01-1997 
<PERIOD-END>                     DEC-31-1997 
<CASH>                                 3,805 
<SECURITIES>                          63,040 
<RECEIVABLES>                          4,679 
<ALLOWANCES>                               0 
<INVENTORY>                                0 
<CURRENT-ASSETS>                      71,524 
<PP&E>                                 1,028 
<DEPRECIATION>                         (238) 
<TOTAL-ASSETS>                        75,413 
<CURRENT-LIABILITIES>                  4,857 
<BONDS>                                    0 
<PREFERRED-MANDATORY>                      0 
<PREFERRED>                                0 
<COMMON>                                  96 
<OTHER-SE>                            70,460 
<TOTAL-LIABILITY-AND-EQUITY>          75,413 
<SALES>                               18,829 
<TOTAL-REVENUES>                      31,714 
<CGS>                                      0 
<TOTAL-COSTS>                         13,707 
<OTHER-EXPENSES>                           0 
<LOSS-PROVISION>                           0 
<INTEREST-EXPENSE>                        34 
<INCOME-PRETAX>                       17,973 
<INCOME-TAX>                           8,124 
<INCOME-CONTINUING>                    9,849 
<DISCONTINUED>                             0 
<EXTRAORDINARY>                            0 
<CHANGES>                                  0 
<NET-INCOME>                           9,849 
<EPS-PRIMARY>                           1.09 
<EPS-DILUTED>                           1.08