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

<S>                                       <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               JUN-30-1996
<CASH>                                      19,364,011
<INT-BEARING-DEPOSITS>                       2,910,000
<FED-FUNDS-SOLD>                               245,000
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                 78,789,825
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                    226,137,142
<ALLOWANCE>                                  2,209,008
<TOTAL-ASSETS>                             347,063,713
<DEPOSITS>                                 288,273,209
<SHORT-TERM>                                18,894,671
<LIABILITIES-OTHER>                          3,376,342
<LONG-TERM>                                  7,721,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                     9,760,704
<OTHER-SE>                                  19,037,787
<TOTAL-LIABILITIES-AND-EQUITY>             347,063,713
<INTEREST-LOAN>                             11,982,880
<INTEREST-INVEST>                            2,495,795
<INTEREST-OTHER>                               228,784
<INTEREST-TOTAL>                            14,707,459
<INTEREST-DEPOSIT>                           4,264,389
<INTEREST-EXPENSE>                           5,101,944
<INTEREST-INCOME-NET>                        9,605,515
<LOAN-LOSSES>                                  285,000
<SECURITIES-GAINS>                               6,595
<EXPENSE-OTHER>                              5,861,882
<INCOME-PRETAX>                              4,472,210
<INCOME-PRE-EXTRAORDINARY>                   3,018,810
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 3,018,810
<EPS-PRIMARY>                                      .25<F1>
<EPS-DILUTED>                                      .22<F1>
<YIELD-ACTUAL>                                       0
<LOANS-NON>                                  1,099,000
<LOANS-PAST>                                   379,000
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                             1,928,372
<CHARGE-OFFS>                                    9,086
<RECOVERIES>                                     4,722
<ALLOWANCE-CLOSE>                            2,209,008
<ALLOWANCE-DOMESTIC>                         2,209,008
<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>