<ARTICLE> 5
<MULTIPLIER> 1
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> MAR-31-1998
<CASH> 1,962,512
<SECURITIES> 130,590,166
<RECEIVABLES> 6,826,170
<ALLOWANCES> (309,746)
<INVENTORY> 0
<CURRENT-ASSETS> 148,769,734
<PP&E> 17,444,404
<DEPRECIATION> 4,391,692
<TOTAL-ASSETS> 171,330,607
<CURRENT-LIABILITIES> 85,361,302
<BONDS> 45,995,099
<PREFERRED-MANDATORY> 0
<PREFERRED> 0
<COMMON> 3,281,631
<OTHER-SE> 36,692,575
<TOTAL-LIABILITY-AND-EQUITY> 171,330,607
<SALES> 5,024,017
<TOTAL-REVENUES> 7,402,497
<CGS> 3,461,061
<TOTAL-COSTS> 3,461,061
<OTHER-EXPENSES> 1,333,192
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 1,241,134
<INCOME-PRETAX> 1,367,110
<INCOME-TAX> 363,584
<INCOME-CONTINUING> 1,003,526
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 1,003,526
<EPS-PRIMARY> .30
<EPS-DILUTED> .27
<FN>
Note: The Company has restated earnings per share to comply with the provisions
of SFAS No. 128. Basic earnings per share for the quarter ended March 31, 1997
was restated to $.31. Diluted earnings per share for the quarter ended March 31,
1997 was restated to $.27.
</FN>