<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM CONSOLIDATED
FINANCIAL STATEMENTS AS REPORTED IN THE QUARTERLY REPORT ON FORM 10-Q FOR THE
QUARTER ENDED MARCH 31, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                         120,551
<SECURITIES>                                    46,607
<RECEIVABLES>                                   20,223
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               191,821
<PP&E>                                          12,358
<DEPRECIATION>                                  10,032
<TOTAL-ASSETS>                                 334,734
<CURRENT-LIABILITIES>                           81,902
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           665
<OTHER-SE>                                     239,906
<TOTAL-LIABILITY-AND-EQUITY>                   334,734
<SALES>                                         63,660
<TOTAL-REVENUES>                                67,049
<CGS>                                                0
<TOTAL-COSTS>                                   29,915
<OTHER-EXPENSES>                                   726
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               8,604
<INCOME-PRETAX>                                 27,804
<INCOME-TAX>                                    11,057
<INCOME-CONTINUING>                             16,747
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    16,747
<EPS-PRIMARY>                                      .25
<EPS-DILUTED>                                      .25