<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM UNAUDITED
CONSOLIDATED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1998
AND IS QUALIFIED IN ITS ENITRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               SEP-30-1998
<CASH>                                           3,773
<SECURITIES>                                   261,518
<RECEIVABLES>                                   28,781
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                14,549
<PP&E>                                          40,890
<DEPRECIATION>                                   9,103
<TOTAL-ASSETS>                                 340,408
<CURRENT-LIABILITIES>                           40,448
<BONDS>                                        139,379
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                      5,529
<COMMON>                                        24,556
<OTHER-SE>                                     130,496
<TOTAL-LIABILITY-AND-EQUITY>                   340,408
<SALES>                                          4,946
<TOTAL-REVENUES>                                21,857
<CGS>                                                0
<TOTAL-COSTS>                                    6,298
<OTHER-EXPENSES>                                 6,916
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               7,924
<INCOME-PRETAX>                                    719
<INCOME-TAX>                                     1,534
<INCOME-CONTINUING>                              (815)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     (815)
<EPS-PRIMARY>                                    (.03)
<EPS-DILUTED>                                    (.04)