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                                                                    EXHIBIT 23.1











                         CONSENT OF INDEPENDENT AUDITORS


The Board of Directors
Mahaska Investment Company:

We consent to the inclusion and incorporation by reference in the Registration
Statement on Form S-4 of Mahaska Investment Company of our report dated February
12, 1999, relating to the consolidated balance sheets of Mahaska Investment
Company and subsidiaries as of December 31, 1998 and 1997, and the related
consolidated statements of income, changes in shareholders' equity and
comprehensive income, and cash flows for each of the years in the three-year
period ended December 31, 1998, and to the reference to our firm under the
headings "The Merger Agreement-Federal Income Tax Consequences", "The Merger
Agreement-Accounting Treatment of the Merger", and "Experts" in the joint proxy
statement/prospectus.


KPMG LLP
Des Moines, Iowa
May 24, 1999