<ARTICLE>                                            9
<LEGEND>
This schedule contains summary financial information extracted from Medford
Bancorp, Inc. year-to-date financial information for the twelve months ended
December 31, 1997 and is qualified in its entirety by reference to such Form
10-K.
</LEGEND>
<MULTIPLIER>                                     1000
       
                                             
<PERIOD-TYPE>                                         YEAR
<FISCAL-YEAR-END>                               DEC-31-1997
<PERIOD-START>                                  JAN-01-1997
<PERIOD-END>                                    DEC-31-1997
<CASH>                                               13,376
<INT-BEARING-DEPOSITS>                                    2
<FED-FUNDS-SOLD>                                      2,802
<TRADING-ASSETS>                                          0
<INVESTMENTS-HELD-FOR-SALE>                         402,723
<INVESTMENTS-CARRYING>                              103,823
<INVESTMENTS-MARKET>                                      0
<LOANS>                                             577,577
<ALLOWANCE>                                          (6,733)
<TOTAL-ASSETS>                                    1,135,572
<DEPOSITS>                                          821,706
<SHORT-TERM>                                         95,670
<LIABILITIES-OTHER>                                   6,577
<LONG-TERM>                                         110,109
<PREFERRED-MANDATORY>                                     0
<PREFERRED>                                               0
<COMMON>                                              2,271
<OTHER-SE>                                           99,239
<TOTAL-LIABILITIES-AND-EQUITY>                    1,135,572
<INTEREST-LOAN>                                      46,213
<INTEREST-INVEST>                                    28,914
<INTEREST-OTHER>                                        205
<INTEREST-TOTAL>                                     75,332
<INTEREST-DEPOSIT>                                   31,328
<INTEREST-EXPENSE>                                   41,349
<INTEREST-INCOME-NET>                                33,983
<LOAN-LOSSES>                                           125
<SECURITIES-GAINS>                                      835
<EXPENSE-OTHER>                                      19,054
<INCOME-PRETAX>                                      18,646
<INCOME-PRE-EXTRAORDINARY>                           18,646
<EXTRAORDINARY>                                           0
<CHANGES>                                                 0
<NET-INCOME>                                         11,390
<EPS-PRIMARY>                                          2.51
<EPS-DILUTED>                                          2.39
<YIELD-ACTUAL>                                         7.23
<LOANS-NON>                                           1,726
<LOANS-PAST>                                              0
<LOANS-TROUBLED>                                          0
<LOANS-PROBLEM>                                           0
<ALLOWANCE-OPEN>                                      7,231
<CHARGE-OFFS>                                           831
<RECOVERIES>                                            208
<ALLOWANCE-CLOSE>                                     6,733
<ALLOWANCE-DOMESTIC>                                      0
<ALLOWANCE-FOREIGN>                                       0
<ALLOWANCE-UNALLOCATED>                                   0