<ARTICLE>    5
<LEGEND>
          THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
          FROM THE DECEMBER 31, 1999 ANNUAL REPORT ON FORM 10-K AND IS
          QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ANNUAL REPORT ON
          FORM 10-K.
</LEGEND>
<MULTIPLIER>      1,000

                                       
<PERIOD-TYPE>                                12-MOS
<FISCAL-YEAR-END>                                          DEC-31-1999
<PERIOD-START>                                              JAN-1-1999
<PERIOD-END>                                               DEC-31-1999
<CASH>                                                          22,265
<SECURITIES>                                                   646,806
<RECEIVABLES>                                                   10,591
<ALLOWANCES>                                                         0
<INVENTORY>                                                          0
<CURRENT-ASSETS>                                                     0
<PP&E>                                                               0
<DEPRECIATION>                                                       0
<TOTAL-ASSETS>                                                 679,662
<CURRENT-LIABILITIES>                                          481,401
<BONDS>                                                              0
<PREFERRED-MANDATORY>                                                0
<PREFERRED>                                                     30,000
<COMMON>                                                       303,584
<OTHER-SE>                                                   (135,323)
<TOTAL-LIABILITY-AND-EQUITY>                                   679,662
<SALES>                                                              0
<TOTAL-REVENUES>                                                57,511
<CGS>                                                                0
<TOTAL-COSTS>                                                        0
<OTHER-EXPENSES>                                                 7,688
<LOSS-PROVISION>                                                 2,442
<INTEREST-EXPENSE>                                              25,876
<INCOME-PRETAX>                                                 26,389
<INCOME-TAX>                                                         0
<INCOME-CONTINUING>                                             26,389
<DISCONTINUED>                                                       0
<EXTRAORDINARY>                                                      0
<CHANGES>                                                            0
<NET-INCOME>                                                    26,389
<EPS-BASIC>                                                     1.27
<EPS-DILUTED>                                                     1.25