<TABLE> <S> <C>

<PAGE>
<ARTICLE> 9
<LEGEND>
This schedule contains summary financial information extracted from the
consolidated statement of financial position for PALFED, Inc. and Subsidiaries
as of March 31, and the related consolidated state of income for the three 
months then ended and is qualified in its entirety by reference to such 
financial statements.
</LEGEND>
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                          11,808
<INT-BEARING-DEPOSITS>                           3,607
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                     24,804
<INVESTMENTS-CARRYING>                          54,143
<INVESTMENTS-MARKET>                            53,723
<LOANS>                                        539,354
<ALLOWANCE>                                      6,961
<TOTAL-ASSETS>                                 655,707
<DEPOSITS>                                     551,437
<SHORT-TERM>                                    41,900
<LIABILITIES-OTHER>                              3,709
<LONG-TERM>                                      5,500
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        53,161
<OTHER-SE>                                           0
<TOTAL-LIABILITIES-AND-EQUITY>                 655,707
<INTEREST-LOAN>                                 11,727
<INTEREST-INVEST>                                1,420
<INTEREST-OTHER>                                    65
<INTEREST-TOTAL>                                13,212
<INTEREST-DEPOSIT>                               6,387
<INTEREST-EXPENSE>                               7,178
<INTEREST-INCOME-NET>                            6,034
<LOAN-LOSSES>                                      337
<SECURITIES-GAINS>                                 119
<EXPENSE-OTHER>                                  4,655
<INCOME-PRETAX>                                  2,164
<INCOME-PRE-EXTRAORDINARY>                       1,350
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,350
<EPS-PRIMARY>                                      .25
<EPS-DILUTED>                                      .25
<YIELD-ACTUAL>                                    3.89
<LOANS-NON>                                      3,308
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                 6,211
<LOANS-PROBLEM>                                 14,678
<ALLOWANCE-OPEN>                                 6,983
<CHARGE-OFFS>                                      545
<RECOVERIES>                                       186
<ALLOWANCE-CLOSE>                                6,961
<ALLOWANCE-DOMESTIC>                             6,961
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                          6,757
        

</TABLE>