<TABLE> <S> <C>

<ARTICLE>                      9
<LEGEND>

THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM CENTENNIAL
BANCORP'S CONSOLIDATED FINANCIAL STATEMENTS INCORPORATED INTO ITS QUARTERLY
REPORT ON FORM 10-Q FOR THE PERIOD ENDED MARCH 31, 1996 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>

<S>                                      <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                      19,206,393
<INT-BEARING-DEPOSITS>                       9,940,000
<FED-FUNDS-SOLD>                            10,860,000
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                 87,930,955
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                    199,294,678
<ALLOWANCE>                                  2,076,058
<TOTAL-ASSETS>                             345,280,449
<DEPOSITS>                                 286,569,732
<SHORT-TERM>                                19,789,524
<LIABILITIES-OTHER>                          3,096,910
<LONG-TERM>                                  8,905,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                     9,432,604
<OTHER-SE>                                  17,486,679
<TOTAL-LIABILITIES-AND-EQUITY>             345,280,449
<INTEREST-LOAN>                              5,717,286
<INTEREST-INVEST>                            1,205,873
<INTEREST-OTHER>                               156,497
<INTEREST-TOTAL>                             7,079,656
<INTEREST-DEPOSIT>                           2,061,156
<INTEREST-EXPENSE>                           2,456,348
<INTEREST-INCOME-NET>                        4,623,308
<LOAN-LOSSES>                                  150,000
<SECURITIES-GAINS>                                   0
<EXPENSE-OTHER>                              2,818,542
<INCOME-PRETAX>                              2,152,518
<INCOME-PRE-EXTRAORDINARY>                   2,152,518
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 1,452,918
<EPS-PRIMARY>                                      .12<F1>
<EPS-DILUTED>                                      .11<F1>
<YIELD-ACTUAL>                                       0
<LOANS-NON>                                    454,000
<LOANS-PAST>                                 1,174,000
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                             1,928,372
<CHARGE-OFFS>                                    5,208
<RECOVERIES>                                     2,894
<ALLOWANCE-CLOSE>                            2,076,058
<ALLOWANCE-DOMESTIC>                         2,076,058
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0
<FN>
<F1>REFLECTS STOCK SPLIT PAID FEB 20, 1998 IN FORM OF 100% STOCK DIVIDEND AND
THE ADOPTION IN FOURTH QUARTER 1997 OF FAS 128, A NEW STANDARD OF COMPUTING AND
PRESENTING BOTH BASIC AND DILUTED NET INCOME PER SHARE.
</FN>


</TABLE>