<ARTICLE> 9 <MULTIPLIER> 1,000 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1994 <PERIOD-END> SEP-30-1994 <CASH> 87,659 <INT-BEARING-DEPOSITS> 714 <FED-FUNDS-SOLD> 20,000 <TRADING-ASSETS> 0 <INVESTMENTS-HELD-FOR-SALE> 0 <INVESTMENTS-CARRYING> 31,209 <INVESTMENTS-MARKET> 30,536 <LOANS> 221,030 <ALLOWANCE> 15,061 <TOTAL-ASSETS> 385,697 <DEPOSITS> 365,821 <SHORT-TERM> 0 <LIABILITIES-OTHER> 2,125 <LONG-TERM> 3,000 <COMMON> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 33,734 <OTHER-SE> (18,983) <TOTAL-LIABILITIES-AND-EQUITY> 385,697 <INTEREST-LOAN> 16,404 <INTEREST-INVEST> 1,436 <INTEREST-OTHER> 1,004 <INTEREST-TOTAL> 18,804 <INTEREST-DEPOSIT> 4,149 <INTEREST-EXPENSE> 4,572 <INTEREST-INCOME-NET> 14,272 <LOAN-LOSSES> 21,450 <SECURITIES-GAINS> 0 <EXPENSE-OTHER> 20,201 <INCOME-PRETAX> (26,148) <INCOME-PRE-EXTRAORDINARY> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (24,448) <EPS-PRIMARY> (2.12) <EPS-DILUTED> (2.12) <YIELD-ACTUAL> 6.81 <LOANS-NON> 25,535 <LOANS-PAST> 2,404 <LOANS-TROUBLED> 2,242 <LOANS-PROBLEM> 0 <ALLOWANCE-OPEN> 18,200 <CHARGE-OFFS> 24,780 <RECOVERIES> 191 <ALLOWANCE-CLOSE> 15,061 <ALLOWANCE-DOMESTIC> 15,061 <ALLOWANCE-FOREIGN> 0 <ALLOWANCE-UNALLOCATED> 0