<ARTICLE>         5
<LEGEND>
                THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
                FROM THE MARCH 31, 2000 QUARTERLY REPORT ON FORM 10-Q AND IS
                QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH QUARTERLY
                REPORT ON FORM 10-Q.
</LEGEND>
<MULTIPLIER>                                                  1,000

                                                   
<PERIOD-TYPE>                                                 3-MOS
<FISCAL-YEAR-END>                                       MAR-31-2000
<PERIOD-START>                                          JAN-01-2000
<PERIOD-END>                                            MAR-31-2000
<CASH>                                                       17,391
<SECURITIES>                                                658,190
<RECEIVABLES>                                                 9,699
<ALLOWANCES>                                                      0
<INVENTORY>                                                       0
<CURRENT-ASSETS>                                                  0
<PP&E>                                                            0
<DEPRECIATION>                                                    0
<TOTAL-ASSETS>                                              685,279
<CURRENT-LIABILITIES>                                       484,414
<BONDS>                                                           0
<PREFERRED-MANDATORY>                                             0
<PREFERRED>                                                  30,100
<COMMON>                                                    303,562
<OTHER-SE>                                                (132,819)
<TOTAL-LIABILITY-AND-EQUITY>                                685,279
<SALES>                                                           0
<TOTAL-REVENUES>                                             16,970
<CGS>                                                             0
<TOTAL-COSTS>                                                     0
<OTHER-EXPENSES>                                              2,177
<LOSS-PROVISION>                                                  0
<INTEREST-EXPENSE>                                            8,333
<INCOME-PRETAX>                                               6,460
<INCOME-TAX>                                                      0
<INCOME-CONTINUING>                                           6,460
<DISCONTINUED>                                                    0
<EXTRAORDINARY>                                                   0
<CHANGES>                                                         0
<NET-INCOME>                                                  6,460
<EPS-BASIC>                                                  0.31
<EPS-DILUTED>                                                  0.29