<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM UNAUDITED
CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 1999 AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               MAR-31-1999
<CASH>                                          11,900
<SECURITIES>                                   253,834
<RECEIVABLES>                                   26,166
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                15,415
<PP&E>                                          42,942
<DEPRECIATION>                                   9,537
<TOTAL-ASSETS>                                 340,720
<CURRENT-LIABILITIES>                           47,816
<BONDS>                                        124,990
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                      5,452
<COMMON>                                        24,710
<OTHER-SE>                                     137,752
<TOTAL-LIABILITY-AND-EQUITY>                   340,720
<SALES>                                          1,844
<TOTAL-REVENUES>                                15,701
<CGS>                                                0
<TOTAL-COSTS>                                    2,278
<OTHER-EXPENSES>                                 2,448
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               2,052
<INCOME-PRETAX>                                  8,923
<INCOME-TAX>                                     3,371
<INCOME-CONTINUING>                              5,552
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     5,552
<EPS-PRIMARY>                                      .23
<EPS-DILUTED>                                      .20