<TABLE> <S> <C>

<ARTICLE>           9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
MAGNA GROUP, INC. QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTERLY PERIOD
ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH REPORT.
</LEGEND>
<MULTIPLIER>        1,000
       
<S>                             <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                         157,076
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                83,543
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                  1,454,618
<INVESTMENTS-CARRYING>                         141,848
<INVESTMENTS-MARKET>                           142,110
<LOANS>                                      3,367,661
<ALLOWANCE>                                     45,093
<TOTAL-ASSETS>                               5,384,481
<DEPOSITS>                                   4,164,860
<SHORT-TERM>                                   620,110
<LIABILITIES-OTHER>                             60,492
<LONG-TERM>                                     79,117
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                         40
<COMMON>                                        57,595
<OTHER-SE>                                     402,267
<TOTAL-LIABILITIES-AND-EQUITY>               5,384,481
<INTEREST-LOAN>                                212,503
<INTEREST-INVEST>                               74,455
<INTEREST-OTHER>                                 1,316
<INTEREST-TOTAL>                               288,274
<INTEREST-DEPOSIT>                             116,785
<INTEREST-EXPENSE>                             143,141
<INTEREST-INCOME-NET>                          145,133
<LOAN-LOSSES>                                    7,781
<SECURITIES-GAINS>                                 779
<EXPENSE-OTHER>                                104,169
<INCOME-PRETAX>                                 70,499
<INCOME-PRE-EXTRAORDINARY>                      70,499
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    46,228
<EPS-PRIMARY>                                     1.63
<EPS-DILUTED>                                     1.59
<YIELD-ACTUAL>                                    4.04
<LOANS-NON>                                     16,680
<LOANS-PAST>                                     9,627
<LOANS-TROUBLED>                                    44
<LOANS-PROBLEM>                                      0<F1>
<ALLOWANCE-OPEN>                                42,623
<CHARGE-OFFS>                                   10,053
<RECOVERIES>                                     3,852
<ALLOWANCE-CLOSE>                               45,093
<ALLOWANCE-DOMESTIC>                            45,093
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0<F1>
<FN>
<F1>Information not currently available; is reported
on an annual basis only.
        

</TABLE>