<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 MARCH 31, 1998, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH REPORT.
</LEGEND>
<MULTIPLIER>        1,000
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                         220,317
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                95,126
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                  2,109,808
<INVESTMENTS-CARRYING>                         129,305
<INVESTMENTS-MARKET>                           133,082
<LOANS>                                      4,378,928
<ALLOWANCE>                                     59,928
<TOTAL-ASSETS>                               7,250,618
<DEPOSITS>                                   5,546,688
<SHORT-TERM>                                   891,706
<LIABILITIES-OTHER>                             85,363
<LONG-TERM>                                    115,883
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                         40
<COMMON>                                        68,075
<OTHER-SE>                                     542,863
<TOTAL-LIABILITIES-AND-EQUITY>               7,250,618
<INTEREST-LOAN>                                 96,165
<INTEREST-INVEST>                               32,165
<INTEREST-OTHER>                                 2,173
<INTEREST-TOTAL>                               130,503
<INTEREST-DEPOSIT>                              55,464
<INTEREST-EXPENSE>                              68,294
<INTEREST-INCOME-NET>                           62,209
<LOAN-LOSSES>                                    3,550
<SECURITIES-GAINS>                                 596
<EXPENSE-OTHER>                                 50,030
<INCOME-PRETAX>                                 32,608
<INCOME-PRE-EXTRAORDINARY>                      32,608
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    20,511
<EPS-PRIMARY>                                      .63
<EPS-DILUTED>                                      .61
<YIELD-ACTUAL>                                    3.86
<LOANS-NON>                                     34,239
<LOANS-PAST>                                    15,241
<LOANS-TROUBLED>                                   224
<LOANS-PROBLEM>                                      0<F1>
<ALLOWANCE-OPEN>                                59,439
<CHARGE-OFFS>                                    4,517
<RECOVERIES>                                     1,456
<ALLOWANCE-CLOSE>                               59,928
<ALLOWANCE-DOMESTIC>                            59,928
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0<F1>
<FN>
<F1>Information not currently available; is reported
on an annual basis only.
        

</TABLE>