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

<S>                                       <C>
<PERIOD-TYPE>                 6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<CASH>                                      29,662,215
<INT-BEARING-DEPOSITS>                      13,653,000
<FED-FUNDS-SOLD>                            10,330,000
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                 74,994,042
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                    281,967,827
<ALLOWANCE>                                  3,119,703
<TOTAL-ASSETS>                             430,901,743
<DEPOSITS>                                 368,500,043
<SHORT-TERM>                                 3,843,754
<LIABILITIES-OTHER>                          2,660,190
<LONG-TERM>                                 10,000,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                    14,424,618
<OTHER-SE>                                  31,473,138
<TOTAL-LIABILITIES-AND-EQUITY>             430,901,743
<INTEREST-LOAN>                             15,803,979
<INTEREST-INVEST>                            2,380,160
<INTEREST-OTHER>                               341,556
<INTEREST-TOTAL>                            18,525,695
<INTEREST-DEPOSIT>                           5,677,681
<INTEREST-EXPENSE>                           6,327,920
<INTEREST-INCOME-NET>                       12,197,775
<LOAN-LOSSES>                                  950,000
<SECURITIES-GAINS>                              29,309
<EXPENSE-OTHER>                              6,752,713
<INCOME-PRETAX>                              6,312,232
<INCOME-PRE-EXTRAORDINARY>                   4,260,732
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 4,260,732
<EPS-PRIMARY>                                      .29<F1>
<EPS-DILUTED>                                      .29<F1>
<YIELD-ACTUAL>                                       0
<LOANS-NON>                                    795,000
<LOANS-PAST>                                   351,000
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                             2,599,653
<CHARGE-OFFS>                                  443,149
<RECOVERIES>                                    13,199
<ALLOWANCE-CLOSE>                            3,119,703
<ALLOWANCE-DOMESTIC>                         3,119,703
<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>