<ARTICLE> 9 <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> JUL-31-1997 <PERIOD-END> OCT-31-1996 <CASH> 2,947 <INT-BEARING-DEPOSITS> 1,993 <FED-FUNDS-SOLD> 295 <TRADING-ASSETS> 0 <INVESTMENTS-HELD-FOR-SALE> 36,986 <INVESTMENTS-CARRYING> 131,278 <INVESTMENTS-MARKET> 130,039 <LOANS> 298,261 <ALLOWANCE> 4,814 <TOTAL-ASSETS> 486,639 <DEPOSITS> 314,365 <SHORT-TERM> 90,906 <LIABILITIES-OTHER> 6,765 <LONG-TERM> 30,070 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 40 <OTHER-SE> 44,493 <TOTAL-LIABILITIES-AND-EQUITY> 486,639 <INTEREST-LOAN> 6,038 <INTEREST-INVEST> 2,695 <INTEREST-OTHER> 177 <INTEREST-TOTAL> 8,910 <INTEREST-DEPOSIT> 3,828 <INTEREST-EXPENSE> 5,394 <INTEREST-INCOME-NET> 3,516 <LOAN-LOSSES> 210 <SECURITIES-GAINS> (64) <EXPENSE-OTHER> 4,521 <INCOME-PRETAX> (1,042) <INCOME-PRE-EXTRAORDINARY> (688) <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (688) <EPS-PRIMARY> (.19) <EPS-DILUTED> (.19) <YIELD-ACTUAL> 3.02 <LOANS-NON> 2,237 <LOANS-PAST> 33 <LOANS-TROUBLED> 947 <LOANS-PROBLEM> 5,652 <ALLOWANCE-OPEN> 4,412 <CHARGE-OFFS> 2 <RECOVERIES> 194 <ALLOWANCE-CLOSE> 4,814 <ALLOWANCE-DOMESTIC> 4,814 <ALLOWANCE-FOREIGN> 0 <ALLOWANCE-UNALLOCATED> 0