<ARTICLE> 5 <MULTIPLIER> 1,000 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> JUN-30-1996 <EXCHANGE-RATE> 1 <CASH> 1865 <SECURITIES> 8988 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 19752 <CURRENT-LIABILITIES> 0 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 99 <OTHER-SE> 18581 <TOTAL-LIABILITY-AND-EQUITY> 19752 <SALES> 0 <TOTAL-REVENUES> 1270 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 651 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 238 <INCOME-PRETAX> 381 <INCOME-TAX> 0 <INCOME-CONTINUING> 381 <DISCONTINUED> 0 <EXTRAORDINARY> 149 <CHANGES> 0 <NET-INCOME> 232 <EPS-PRIMARY> 0.02 <EPS-DILUTED> 0.02