<ARTICLE>                     5
<LEGEND>
This schedule contains summary financial information extracted from unaudited
consolidated financial statements for the six months ended June 30, 1997.
</LEGEND>
<MULTIPLIER>                                   1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                              DEC-31-1997
<PERIOD-START>                                 JAN-01-1997
<PERIOD-END>                                   JUN-30-1997
<CASH>                                         17,808
<SECURITIES>                                   125,495
<RECEIVABLES>                                  58,012
<ALLOWANCES>                                   0
<INVENTORY>                                    0
<CURRENT-ASSETS>                               18,912
<PP&E>                                         39,167
<DEPRECIATION>                                 7,882
<TOTAL-ASSETS>                                 251,512
<CURRENT-LIABILITIES>                          30,078
<BONDS>                                        66,417
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    5,821
<COMMON>                                       24,354
<OTHER-SE>                                     124,842
<TOTAL-LIABILITY-AND-EQUITY>                   251,512
<SALES>                                        6,286  
<TOTAL-REVENUES>                               29,840 
<CGS>                                          0      
<TOTAL-COSTS>                                  6,375  
<OTHER-EXPENSES>                               6,244  
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                             5,057
<INCOME-PRETAX>                                11,804
<INCOME-TAX>                                   4,514
<INCOME-CONTINUING>                            7,290
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                                   7,290
<EPS-PRIMARY>                                  .26
<EPS-DILUTED>                                  .26