<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM UNAUDITED
CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 1999.
</LEGEND>
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               JUN-30-1999
<CASH>                                          21,032
<SECURITIES>                                   261,289
<RECEIVABLES>                                   23,466
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                16,544
<PP&E>                                          43,096
<DEPRECIATION>                                   9,808
<TOTAL-ASSETS>                                 355,619
<CURRENT-LIABILITIES>                           38,040
<BONDS>                                        140,321
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                      5,419
<COMMON>                                        24,733
<OTHER-SE>                                     147,106
<TOTAL-LIABILITY-AND-EQUITY>                   355,619
<SALES>                                          3,414
<TOTAL-REVENUES>                                48,259
<CGS>                                                0
<TOTAL-COSTS>                                    4,097
<OTHER-EXPENSES>                                 7,493
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               4,690
<INCOME-PRETAX>                                 31,979
<INCOME-TAX>                                    11,676
<INCOME-CONTINUING>                             20,303
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    20,303
<EPS-BASIC>                                        .84
<EPS-DILUTED>                                      .73