<ARTICLE> 9
<LEGEND>
THIS  SCHEDULE  CONTAINS  SUMMARY  FINANCIAL   INFORMATION  EXTRACTED  FROM  THE
CONSOLIDATED  FINANCIAL  STATEMENTS OF EAST TEXAS FINANCIAL  SERVICES,  INC., AT
DECEMBER  31,  1997,  AND IS  QUALIFIED  IN ITS  ENTIRETY BY  REFERENCE  TO SUCH
FINANCIAL STATEMENTS. 
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
<PERIOD-END>                               DEC-31-1997
<CASH>                                         586,802
<INT-BEARING-DEPOSITS>                       4,012,628
<FED-FUNDS-SOLD>                             2,671,416
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                  6,029,082
<INVESTMENTS-CARRYING>                      42,380,963
<INVESTMENTS-MARKET>                        42,940,031
<LOANS>                                     60,522,314
<ALLOWANCE>                                    272,851
<TOTAL-ASSETS>                             120,093,053
<DEPOSITS>                                  91,056,096
<SHORT-TERM>                                 6,142,000
<LIABILITIES-OTHER>                          1,380,000
<LONG-TERM>                                          0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        12,564
<OTHER-SE>                                  20,968,412
<TOTAL-LIABILITIES-AND-EQUITY>             120,093,053
<INTEREST-LOAN>                              1,164,138
<INTEREST-INVEST>                              865,172
<INTEREST-OTHER>                                     0
<INTEREST-TOTAL>                             2,029,310
<INTEREST-DEPOSIT>                           1,123,670
<INTEREST-EXPENSE>                           1,185,843
<INTEREST-INCOME-NET>                          843,467
<LOAN-LOSSES>                                        0
<SECURITIES-GAINS>                                   0
<EXPENSE-OTHER>                                694,169
<INCOME-PRETAX>                                226,713
<INCOME-PRE-EXTRAORDINARY>                     144,304
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   144,304
<EPS-PRIMARY>                                     0.15
<EPS-DILUTED>                                     0.15
<YIELD-ACTUAL>                                    7.09
<LOANS-NON>                                    142,462
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                200,582
<ALLOWANCE-OPEN>                               272,851
<CHARGE-OFFS>                                        0
<RECOVERIES>                                         0
<ALLOWANCE-CLOSE>                              272,851
<ALLOWANCE-DOMESTIC>                            84,043
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                        188,808