<ARTICLE> 9 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE QUARTERLY REPORT ON FORM 10-Q FOR THE FISCAL QUARTER ENDED MARCH 31, 1998 OF MAHASKA INVESTMENT COMPANY AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS 3-MOS <FISCAL-YEAR-END> DEC-31-1998 DEC-31-1997 <PERIOD-START> JAN-01-1998 JAN-01-1997 <PERIOD-END> MAR-31-1998 MAR-31-1997 <CASH> 9,254 9,635 <INT-BEARING-DEPOSITS> 4,429 1,284 <FED-FUNDS-SOLD> 12,273 0 <TRADING-ASSETS> 0 0 <INVESTMENTS-HELD-FOR-SALE> 0 0 <INVESTMENTS-CARRYING> 18,321 26,427 <INVESTMENTS-MARKET> 18,387 26,280 <LOANS> 146,999 124,052 <ALLOWANCE> (1,872) (1,578) <TOTAL-ASSETS> 276,013 254,946 <DEPOSITS> 218,529 207,686 <SHORT-TERM> 16,550 9,810 <LIABILITIES-OTHER> 3,140 2,657 <LONG-TERM> 0 0 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 0 0 <COMMON> 19,038 11,423 <OTHER-SE> 18,756 23,370 <TOTAL-LIABILITIES-AND-EQUITY> 276,013 254,946 <INTEREST-LOAN> 3,400 2,721 <INTEREST-INVEST> 622 786 <INTEREST-OTHER> 2,612 2,531 <INTEREST-TOTAL> 6,634 6,038 <INTEREST-DEPOSIT> 2,169 2,029 <INTEREST-EXPENSE> 2,512 2,193 <INTEREST-INCOME-NET> 4,122 3,845 <LOAN-LOSSES> 110 128 <SECURITIES-GAINS> 26 0 <EXPENSE-OTHER> 2,207 2,002 <INCOME-PRETAX> 2,246 2,144 <INCOME-PRE-EXTRAORDINARY> 1,430 1,378 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> 1,430 1,378 <EPS-PRIMARY> .39 .37 <EPS-DILUTED> .37 .36 <YIELD-ACTUAL> 10.80 10.77 <LOANS-NON> 972 1,031 <LOANS-PAST> 519 199 <LOANS-TROUBLED> 351 356 <LOANS-PROBLEM> 0 0 <ALLOWANCE-OPEN> 1,816 1,491 <CHARGE-OFFS> 64 64 <RECOVERIES> 10 23 <ALLOWANCE-CLOSE> 1,872 1,578 <ALLOWANCE-DOMESTIC> 1,872 1,578 <ALLOWANCE-FOREIGN> 0 0 <ALLOWANCE-UNALLOCATED> 1,872 1,578