<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 SEPTEMBER 30, 1996 AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>

<S>                                      <C>
<PERIOD-TYPE>                 9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                      22,476,604
<INT-BEARING-DEPOSITS>                      12,925,000
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                 84,657,835
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                    246,880,693
<ALLOWANCE>                                  2,504,970
<TOTAL-ASSETS>                             386,522,759
<DEPOSITS>                                 322,579,860
<SHORT-TERM>                                11,205,757
<LIABILITIES-OTHER>                          3,712,668
<LONG-TERM>                                 17,324,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                    10,367,162
<OTHER-SE>                                  21,333,312
<TOTAL-LIABILITIES-AND-EQUITY>             386,522,759
<INTEREST-LOAN>                             18,872,009
<INTEREST-INVEST>                            3,743,115
<INTEREST-OTHER>                               453,674
<INTEREST-TOTAL>                            23,068,798
<INTEREST-DEPOSIT>                           6,841,053
<INTEREST-EXPENSE>                           8,116,358
<INTEREST-INCOME-NET>                       14,952,440
<LOAN-LOSSES>                                  585,000
<SECURITIES-GAINS>                               6,595
<EXPENSE-OTHER>                              9,014,150
<INCOME-PRETAX>                              6,931,366
<INCOME-PRE-EXTRAORDINARY>                   4,678,666
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 4,678,666
<EPS-PRIMARY>                                      .38<F1>
<EPS-DILUTED>                                      .34<F1>
<YIELD-ACTUAL>                                       0
<LOANS-NON>                                  1,463,000
<LOANS-PAST>                                 1,182,000
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                             1,928,372
<CHARGE-OFFS>                                   48,082
<RECOVERIES>                                    39,680
<ALLOWANCE-CLOSE>                            2,504,970
<ALLOWANCE-DOMESTIC>                         2,504,970
<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>