<ARTICLE> 5
<RESTATED> 
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<CASH>                                      11,325,361
<SECURITIES>                                58,594,853
<RECEIVABLES>                                1,329,513
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            72,090,689
<PP&E>                                       3,546,420
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                              77,956,582
<CURRENT-LIABILITIES>                        4,067,514
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                    83,251,404
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                77,956,582
<SALES>                                              0
<TOTAL-REVENUES>                            19,215,662
<CGS>                                                0
<TOTAL-COSTS>                               16,265,629
<OTHER-EXPENSES>                             (573,627)
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             272,464
<INCOME-PRETAX>                              6,121,603
<INCOME-TAX>                                   247,683
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 5,873,920
<EPS-PRIMARY>                                     0.39
<EPS-DILUTED>                                     0.36