<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 June
30, 1997, and is qualified in its entirety by reference to such report.
</LEGEND>
<MULTIPLIER>        1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          Dec-31-1996
<PERIOD-START>                             Jan-01-1997
<PERIOD-END>                               Jun-30-1997
<CASH>                                         219,608
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                87,487
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                  1,725,963
<INVESTMENTS-CARRYING>                         148,035
<INVESTMENTS-MARKET>                           151,225
<LOANS>                                      4,437,047
<ALLOWANCE>                                     55,726
<TOTAL-ASSETS>                               6,931,641
<DEPOSITS>                                   5,266,127
<SHORT-TERM>                                   900,519
<LIABILITIES-OTHER>                             74,956
<LONG-TERM>                                     82,419
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                         40
<COMMON>                                        67,056
<OTHER-SE>                                     540,524
<TOTAL-LIABILITIES-AND-EQUITY>               6,931,641
<INTEREST-LOAN>                                174,385
<INTEREST-INVEST>                               55,346
<INTEREST-OTHER>                                 2,042
<INTEREST-TOTAL>                               231,773
<INTEREST-DEPOSIT>                              94,768
<INTEREST-EXPENSE>                             117,201
<INTEREST-INCOME-NET>                          114,572
<LOAN-LOSSES>                                   18,429
<SECURITIES-GAINS>                                 851
<EXPENSE-OTHER>                                 83,581
<INCOME-PRETAX>                                 43,724
<INCOME-PRE-EXTRAORDINARY>                      43,724
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    29,257
<EPS-PRIMARY>                                      .92
<EPS-DILUTED>                                      .91
<YIELD-ACTUAL>                                    3.99
<LOANS-NON>                                     29,710
<LOANS-PAST>                                    12,409
<LOANS-TROUBLED>                                   242
<LOANS-PROBLEM>                                      0<F1>
<ALLOWANCE-OPEN>                                45,382
<CHARGE-OFFS>                                   23,362
<RECOVERIES>                                     2,131
<ALLOWANCE-CLOSE>                               55,726
<ALLOWANCE-DOMESTIC>                            55,726
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0<F1>
<FN>
<F1>Information not currently available; is reported on an annual basis only.
        

</TABLE>