<ARTICLE>                        5
<LEGEND>
This schedule contains summary financial information extracted from unaudited
consolidated financial statements for the six months ended June 30, 1998 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER>                     1,000      
       
                              
<PERIOD-TYPE>                    6-MOS      
<FISCAL-YEAR-END>                               DEC-31-1998
<PERIOD-START>                                  JAN-01-1998
<PERIOD-END>                                    JUN-30-1998
<CASH>                                               16,573
<SECURITIES>                                        246,080
<RECEIVABLES>                                        30,071
<ALLOWANCES>                                              0
<INVENTORY>                                               0
<CURRENT-ASSETS>                                     13,937
<PP&E>                                               41,475
<DEPRECIATION>                                        8,984
<TOTAL-ASSETS>                                      339,152
<CURRENT-LIABILITIES>                                42,466
<BONDS>                                             129,439
<PREFERRED-MANDATORY>                                     0
<PREFERRED>                                           5,563
<COMMON>                                             24,531
<OTHER-SE>                                          137,153
<TOTAL-LIABILITY-AND-EQUITY>                        339,152
<SALES>                                               3,317
<TOTAL-REVENUES>                                     17,065
<CGS>                                                     0
<TOTAL-COSTS>                                         4,259
<OTHER-EXPENSES>                                      4,849
<LOSS-PROVISION>                                          0
<INTEREST-EXPENSE>                                    5,136
<INCOME-PRETAX>                                       2,821
<INCOME-TAX>                                          1,734
<INCOME-CONTINUING>                                   1,087
<DISCONTINUED>                                            0
<EXTRAORDINARY>                                           0
<CHANGES>                                                 0
<NET-INCOME>                                          1,087
<EPS-PRIMARY>                                           .05
<EPS-DILUTED>                                           .03