<ARTICLE> 9
<LEGEND>
The schedule contains summary financial information extracted from the quarterly
report of Form 10-Q for the  fiscal  quarter  ended  September  30,  1996 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAR-31-1997
<PERIOD-END>                               SEP-30-1996
<CASH>                                       2,896,504
<INT-BEARING-DEPOSITS>                         857,123
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                158,533,614
<INVESTMENTS-CARRYING>                      29,343,873
<INVESTMENTS-MARKET>                        29,209,747
<LOANS>                                    211,889,617
<ALLOWANCE>                                  2,274,585
<TOTAL-ASSETS>                             421,657,637
<DEPOSITS>                                 271,731,184
<SHORT-TERM>                                61,954,624
<LIABILITIES-OTHER>                          5,223,994
<LONG-TERM>                                 42,841,308
<PREFERRED-MANDATORY>                           24,598
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                  39,881,929
<TOTAL-LIABILITIES-AND-EQUITY>             421,657,637
<INTEREST-LOAN>                              8,314,320
<INTEREST-INVEST>                            6,112,954
<INTEREST-OTHER>                               235,083
<INTEREST-TOTAL>                            14,662,357
<INTEREST-DEPOSIT>                           6,696,363
<INTEREST-EXPENSE>                           9,282,577
<INTEREST-INCOME-NET>                        5,379,780
<LOAN-LOSSES>                                  148,486
<SECURITIES-GAINS>                               2,366
<EXPENSE-OTHER>                              5,952,787
<INCOME-PRETAX>                                 74,887
<INCOME-PRE-EXTRAORDINARY>                    (56,091)
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (56,091)
<EPS-PRIMARY>                                   (0.03)
<EPS-DILUTED>                                   (0.03)
<YIELD-ACTUAL>                                    7.51
<LOANS-NON>                                  4,916,000
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                             2,147,000
<LOANS-PROBLEM>                                267,650
<ALLOWANCE-OPEN>                             2,251,907
<CHARGE-OFFS>                                   77,608
<RECOVERIES>                                    19,832
<ALLOWANCE-CLOSE>                            2,274,585
<ALLOWANCE-DOMESTIC>                           529,236
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                      1,745,349