<TABLE> <S> <C>

<PAGE>
 
<ARTICLE> 9
<LEGEND> This schedule contains summary financial information extracted from 
Financial Statements as of and for the Years Ended December 31, 1997 and 1996
and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
<S>                             <C>                    <C> 
<PERIOD-TYPE>                   12-MOS                 12-MOS   
<FISCAL-YEAR-END>                        DEC-31-1997            DEC-31-1996
<PERIOD-START>                           JAN-01-1997            JAN-01-1996
<PERIOD-END>                             DEC-31-1997            DEC-31-1996
<CASH>                                         6,630                  8,334
<INT-BEARING-DEPOSITS>                           891                    740   
<FED-FUNDS-SOLD>                              60,000                      0
<TRADING-ASSETS>                                   0                      0  
<INVESTMENTS-HELD-FOR-SALE>                  126,994                172,319
<INVESTMENTS-CARRYING>                        53,719                 67,936
<INVESTMENTS-MARKET>                          53,451                 67,875 
<LOANS>                                      246,245                324,508
<ALLOWANCE>                                    6,303                  7,208
<TOTAL-ASSETS>                               541,458                595,571
<DEPOSITS>                                   397,110                330,655
<SHORT-TERM>                                  90,000                136,146
<LIABILITIES-OTHER>                            7,582                 12,078
<LONG-TERM>                                      803                 55,803    
<PREFERRED-MANDATORY>                              0                      0  
<PREFERRED>                                        0                      0  
<COMMON>                                      45,963                 60,889
<OTHER-SE>                                         0                      0
<TOTAL-LIABILITIES-AND-EQUITY>               541,458                595,571 
<INTEREST-LOAN>                               39,234                 24,842
<INTEREST-INVEST>                             13,908                 20,487
<INTEREST-OTHER>                                 866                    552
<INTEREST-TOTAL>                              54,008                 45,881
<INTEREST-DEPOSIT>                            18,776                 14,595
<INTEREST-EXPENSE>                            28,327                 25,917
<INTEREST-INCOME-NET>                         25,681                 19,964
<LOAN-LOSSES>                                 26,527                  4,293
<SECURITIES-GAINS>                             1,200                  2,529
<EXPENSE-OTHER>                               22,739                 19,506
<INCOME-PRETAX>                             (19,677)                  6,568
<INCOME-PRE-EXTRAORDINARY>                   (7,195)                  2,352
<EXTRAORDINARY>                                    0                      0
<CHANGES>                                          0                      0
<NET-INCOME>                                (12,482)                  4,216
<EPS-PRIMARY>                                 (3.59)                   1.13
<EPS-DILUTED>                                 (3.59)                   1.13 
<YIELD-ACTUAL>                                 11.38                   9.35
<LOANS-NON>                                    6,195                  5,294
<LOANS-PAST>                                       0                      0
<LOANS-TROUBLED>                                   0                      0
<LOANS-PROBLEM>                                    0                      0
<ALLOWANCE-OPEN>                               7,208                  3,460
<CHARGE-OFFS>                                 27,946                    754
<RECOVERIES>                                   1,699                    209
<ALLOWANCE-CLOSE>                              6,303                  7,208
<ALLOWANCE-DOMESTIC>                           5,610                  4,266
<ALLOWANCE-FOREIGN>                                0                      0
<ALLOWANCE-UNALLOCATED>                          693                  2,942 
        
 

</TABLE>