<ARTICLE> 5

<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S QUARTERLY REPORT ON FORM 10Q AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO THE FINANCIAL STATEMENTS IN SUCH REPORT.
</LEGEND>

<MULTIPLIER> 1000

       
                                                  
<PERIOD-TYPE>                                              6-MOS
<FISCAL-YEAR-END>                                    DEC-31-1998
<PERIOD-START>                                       JAN-01-1998
<PERIOD-END>                                         JUN-30-1998
<CASH>                                                     5,071
<SECURITIES>                                              77,402
<RECEIVABLES>                                              2,900
<ALLOWANCES>                                                   0
<INVENTORY>                                                    0
<CURRENT-ASSETS>                                          85,373
<PP&E>                                                     1,057
<DEPRECIATION>                                             (331)
<TOTAL-ASSETS>                                            87,057
<CURRENT-LIABILITIES>                                      6,838
<BONDS>                                                        0
<PREFERRED-MANDATORY>                                          0
<PREFERRED>                                                    0
<COMMON>                                                      96
<OTHER-SE>                                                80,123
<TOTAL-LIABILITY-AND-EQUITY>                              87,057
<SALES>                                                    8,955
<TOTAL-REVENUES>                                          13,297
<CGS>                                                          0
<TOTAL-COSTS>                                              6,818
<OTHER-EXPENSES>                                               0
<LOSS-PROVISION>                                               0
<INTEREST-EXPENSE>                                            29
<INCOME-PRETAX>                                            6,450
<INCOME-TAX>                                               2,776
<INCOME-CONTINUING>                                        3,674
<DISCONTINUED>                                                 0
<EXTRAORDINARY>                                                0
<CHANGES>                                                      0
<NET-INCOME>                                               3,674
<EPS-PRIMARY>                                               0.38
<EPS-DILUTED>                                               0.38