<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED FINANCIAL STATEMENTS OF PALFED, INC. AND SUBSIDIARIES AS OF
DECEMBER 31, 1996 AND THE RELATED CONSOLIDATED STATE OF INCOME FOR THE YEAR THEN
ENDED AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                  12-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<CASH>                                          16,942
<INT-BEARING-DEPOSITS>                           3,465
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                     24,007
<INVESTMENTS-CARRYING>                          58,700
<INVESTMENTS-MARKET>                            59,222
<LOANS>                                        531,103
<ALLOWANCE>                                      6,983
<TOTAL-ASSETS>                                 665,257
<DEPOSITS>                                     540,128
<SHORT-TERM>                                    57,900
<LIABILITIES-OTHER>                              4,906
<LONG-TERM>                                     10,500
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        51,823
<OTHER-SE>                                           0
<TOTAL-LIABILITIES-AND-EQUITY>                 665,257
<INTEREST-LOAN>                                 43,756
<INTEREST-INVEST>                                6,746
<INTEREST-OTHER>                                   233
<INTEREST-TOTAL>                                50,735
<INTEREST-DEPOSIT>                              24,412
<INTEREST-EXPENSE>                              28,517
<INTEREST-INCOME-NET>                           22,218
<LOAN-LOSSES>                                    1,154
<SECURITIES-GAINS>                                 574
<EXPENSE-OTHER>                                 24,095
<INCOME-PRETAX>                                  1,461
<INCOME-PRE-EXTRAORDINARY>                         112
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       112
<EPS-PRIMARY>                                    0.021
<EPS-DILUTED>                                    0.021
<YIELD-ACTUAL>                                    3.70
<LOANS-NON>                                      3,971
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                 6,533
<LOANS-PROBLEM>                                 14,500
<ALLOWANCE-OPEN>                                 8,417
<CHARGE-OFFS>                                    3,044
<RECOVERIES>                                       456
<ALLOWANCE-CLOSE>                                6,983
<ALLOWANCE-DOMESTIC>                             6,983
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                          6,517