<TABLE> <S> <C>

<PAGE>
 
<ARTICLE> 9
<MULTIPLIER> 1,000
       
<S>                             <C>                     <C>
<PERIOD-TYPE>                   3-MOS                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996             DEC-31-1996
<PERIOD-START>                             OCT-01-1996             JAN-01-1996
<PERIOD-END>                               DEC-31-1996             DEC-31-1996
<CASH>                                               0                  62,146
<INT-BEARING-DEPOSITS>                               0                   7,980
<FED-FUNDS-SOLD>                                     0                  29,000
<TRADING-ASSETS>                                     0                  14,121
<INVESTMENTS-HELD-FOR-SALE>                          0                 335,654
<INVESTMENTS-CARRYING>                               0                  87,532
<INVESTMENTS-MARKET>                                 0                  84,697
<LOANS>                                              0               2,749,439
<ALLOWANCE>                                          0                  57,508
<TOTAL-ASSETS>                                       0               3,330,290
<DEPOSITS>                                           0               2,495,933
<SHORT-TERM>                                         0                 469,851
<LIABILITIES-OTHER>                                  0                  31,099
<LONG-TERM>                                          0                 120,000
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                             0                     182
<OTHER-SE>                                           0                 213,407<F1>
<TOTAL-LIABILITIES-AND-EQUITY>                       0               3,330,290
<INTEREST-LOAN>                                 50,595                 213,013
<INTEREST-INVEST>                                7,795                  21,828
<INTEREST-OTHER>                                   893                   3,072
<INTEREST-TOTAL>                                59,283                 237,913
<INTEREST-DEPOSIT>                              29,635                 120,265
<INTEREST-EXPENSE>                               9,207                  32,358
<INTEREST-INCOME-NET>                           20,441                  85,290
<LOAN-LOSSES>                                    3,900                  15,610
<SECURITIES-GAINS>                                 574                   1,336
<EXPENSE-OTHER>                                 17,918<F2>              96,015<F2>
<INCOME-PRETAX>                                  3,186                (10,525)
<INCOME-PRE-EXTRAORDINARY>                       3,186                (10,525)
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                     1,634                (14,089)
<EPS-PRIMARY>                                     0.09                  (0.86)
<EPS-DILUTED>                                     0.09                  (0.86)
<YIELD-ACTUAL>                                    2.51                    2.63
<LOANS-NON>                                     36,125                  36,125
<LOANS-PAST>                                         0                       0
<LOANS-TROUBLED>                                45,196                  45,196
<LOANS-PROBLEM>                                111,248                 111,248
<ALLOWANCE-OPEN>                                62,832                  89,435
<CHARGE-OFFS>                                   10,627                  50,841
<RECOVERIES>                                     1,403                   3,304
<ALLOWANCE-CLOSE>                               57,508                  57,508
<ALLOWANCE-DOMESTIC>                            57,508                  57,508
<ALLOWANCE-FOREIGN>                                  0                       0
<ALLOWANCE-UNALLOCATED>                         25,308                  25,308
<FN>
<F1>INCLUDES $51,750 MINORITY INTEREST: PREFERRED STOCK OF CONSOLIDATED SUBSIDIARY
<F2>INCLUDES G & A, PROVISION FOR ESTIMATED REAL ESTATE LOSSES AND DIRECT COSTS OF
REAL ESTATE, NET, PLUS MINORITY INTEREST IN EARNINGS OF SUBSIDIARY (DIVIDENDS
ON SUBSIDIARY PREFERRED STOCK) OF $4,657 FOR THE YEAR AND $1,552 FOR THE
QUARTER.
</FN>
        

</TABLE>