<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, 1997 AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>

<S>                                      <C>
<PERIOD-TYPE>                 9-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               SEP-30-1997
<CASH>                                      30,470,873
<INT-BEARING-DEPOSITS>                       3,500,000
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                 84,430,094
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                    330,120,139
<ALLOWANCE>                                  3,179,472
<TOTAL-ASSETS>                             471,997,983
<DEPOSITS>                                 401,938,204
<SHORT-TERM>                                 8,203,543
<LIABILITIES-OTHER>                          3,010,721
<LONG-TERM>                                 10,000,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                    14,456,446
<OTHER-SE>                                  34,389,069
<TOTAL-LIABILITIES-AND-EQUITY>             471,997,983
<INTEREST-LOAN>                             24,573,993
<INTEREST-INVEST>                            3,544,781
<INTEREST-OTHER>                               740,536
<INTEREST-TOTAL>                            28,859,310
<INTEREST-DEPOSIT>                           9,040,636
<INTEREST-EXPENSE>                           9,924,411
<INTEREST-INCOME-NET>                       18,934,899
<LOAN-LOSSES>                                1,100,000
<SECURITIES-GAINS>                              34,324
<EXPENSE-OTHER>                             10,422,084
<INCOME-PRETAX>                              9,922,879
<INCOME-PRE-EXTRAORDINARY>                   6,697,479
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 6,697,479
<EPS-PRIMARY>                                      .46<F1>
<EPS-DILUTED>                                      .45<F1>
<YIELD-ACTUAL>                                       0
<LOANS-NON>                                    777,000
<LOANS-PAST>                                 1,248,000
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                             2,599,653
<CHARGE-OFFS>                                  557,533
<RECOVERIES>                                    37,352
<ALLOWANCE-CLOSE>                            3,179,472
<ALLOWANCE-DOMESTIC>                         3,179,472
<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>