<TABLE> <S> <C>

<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
PEOPLE'S BANCSHARES INC. AND SUBSIDIARIES ANNUAL FINANCIAL STATEMENTS FOR THE
YEAR ENDED DECEMBER 31, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS CONTAINED IN FORM 10-K.
</LEGEND>
<MULTIPLIER> 1,000
<CURRENCY> US$
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<EXCHANGE-RATE>                                      1
<CASH>                                          19,794
<INT-BEARING-DEPOSITS>                           2,084
<FED-FUNDS-SOLD>                                16,016
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                    189,739
<INVESTMENTS-CARRYING>                         186,559
<INVESTMENTS-MARKET>                           186,125
<LOANS>                                        492,562
<ALLOWANCE>                                      4,866
<TOTAL-ASSETS>                                 944,640
<DEPOSITS>                                     470,887
<SHORT-TERM>                                    10,700
<LIABILITIES-OTHER>                              8,386
<LONG-TERM>                                    420,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           368
<OTHER-SE>                                      34,299
<TOTAL-LIABILITIES-AND-EQUITY>                 944,640
<INTEREST-LOAN>                                 36,377
<INTEREST-INVEST>                               25,112
<INTEREST-OTHER>                                   303
<INTEREST-TOTAL>                                61,792
<INTEREST-DEPOSIT>                              15,239
<INTEREST-EXPENSE>                              39,241
<INTEREST-INCOME-NET>                           22,551
<LOAN-LOSSES>                                      600
<SECURITIES-GAINS>                               1,440
<EXPENSE-OTHER>                                 19,238
<INCOME-PRETAX>                                 12,170
<INCOME-PRE-EXTRAORDINARY>                      12,170
<EXTRAORDINARY>                                      0
<CHANGES>                                        (186)
<NET-INCOME>                                     7,614
<EPS-PRIMARY>                                     2.30
<EPS-DILUTED>                                     2.25
<YIELD-ACTUAL>                                    2.74
<LOANS-NON>                                      1,517
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                 4,291
<CHARGE-OFFS>                                      575
<RECOVERIES>                                       550
<ALLOWANCE-CLOSE>                                4,866
<ALLOWANCE-DOMESTIC>                             3,702
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                          1,164
        

</TABLE>