<TABLE> <S> <C>

<ARTICLE>           9
<LEGEND>
This schedule contains summary financial information extracted from the Magna
Group Inc. quarterly report on Form 10Q for the quarterly period ended September
30, 1997, 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-31-1996
<PERIOD-START>                             Jan-01-1997
<PERIOD-END>                               Sep-30-1997
<CASH>                                         225,775
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                21,619
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                  1,800,730
<INVESTMENTS-CARRYING>                         143,715
<INVESTMENTS-MARKET>                           146,316
<LOANS>                                      4,542,381
<ALLOWANCE>                                     56,207
<TOTAL-ASSETS>                               7,044,480
<DEPOSITS>                                   5,365,771
<SHORT-TERM>                                   918,748
<LIABILITIES-OTHER>                             76,839
<LONG-TERM>                                     57,047
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                         40
<COMMON>                                        67,277
<OTHER-SE>                                     558,758
<TOTAL-LIABILITIES-AND-EQUITY>               7,044,480
<INTEREST-LOAN>                                272,434
<INTEREST-INVEST>                               84,325
<INTEREST-OTHER>                                 3,107
<INTEREST-TOTAL>                               359,866
<INTEREST-DEPOSIT>                             149,181
<INTEREST-EXPENSE>                             183,355
<INTEREST-INCOME-NET>                          176,511
<LOAN-LOSSES>                                   22,906
<SECURITIES-GAINS>                               1,974
<EXPENSE-OTHER>                                128,314
<INCOME-PRETAX>                                 75,690
<INCOME-PRE-EXTRAORDINARY>                      75,690
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    50,500
<EPS-PRIMARY>                                     1.56
<EPS-DILUTED>                                     1.54
<YIELD-ACTUAL>                                    3.98
<LOANS-NON>                                     29,239
<LOANS-PAST>                                    14,605
<LOANS-TROUBLED>                                   236
<LOANS-PROBLEM>                                      0<F1>
<ALLOWANCE-OPEN>                                45,382<F2>
<CHARGE-OFFS>                                   28,257
<RECOVERIES>                                     3,030
<ALLOWANCE-CLOSE>                               56,207
<ALLOWANCE-DOMESTIC>                            56,207
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0<F1>
<FN>
<F1>Information not currently available; is reported on an annual basis only.
<F2>Information does not include the March 1, 1997 balance of $13,146 in the
allowance for loan losses attributable to Homeland Bankshares Corporation
which was acquired by Magna Group, Inc. on that date in a transaction
accounted for under the purchase method.
        

</TABLE>