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

<S>                                      <C>
<PERIOD-TYPE>                 3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                      24,197,925
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                            11,500,000
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                 70,037,757
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                    285,665,907
<ALLOWANCE>                                  3,370,625
<TOTAL-ASSETS>                             410,439,377
<DEPOSITS>                                 340,204,278
<SHORT-TERM>                                13,180,486
<LIABILITIES-OTHER>                          3,982,268
<LONG-TERM>                                 10,000,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                    13,102,836
<OTHER-SE>                                  29,969,509
<TOTAL-LIABILITIES-AND-EQUITY>             410,439,377
<INTEREST-LOAN>                              7,638,396
<INTEREST-INVEST>                            1,207,776
<INTEREST-OTHER>                                94,368
<INTEREST-TOTAL>                             8,940,540
<INTEREST-DEPOSIT>                           2,702,020
<INTEREST-EXPENSE>                           3,054,067
<INTEREST-INCOME-NET>                        5,886,473
<LOAN-LOSSES>                                  800,000
<SECURITIES-GAINS>                              29,309
<EXPENSE-OTHER>                              3,137,630
<INCOME-PRETAX>                              3,113,270
<INCOME-PRE-EXTRAORDINARY>                   2,101,470
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 2,101,470
<EPS-PRIMARY>                                      .14<F1>
<EPS-DILUTED>                                      .14<F1>
<YIELD-ACTUAL>                                       0
<LOANS-NON>                                  1,238,000
<LOANS-PAST>                                   680,000
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                             2,599,653
<CHARGE-OFFS>                                   30,351
<RECOVERIES>                                     1,323
<ALLOWANCE-CLOSE>                            3,370,625
<ALLOWANCE-DOMESTIC>                         3,370,625
<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>