<TABLE> <S> <C>

<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM PEOPLE'S
BANCSHARES, INC. AND SUBSIDIARIES QUARTERLY FINANCIAL STATEMENTS FOR THE NINE
MONTHS ENDED SEPTEMBER 30, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS CONTAINED IN SUCH FORM 10-Q.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS

<S>                             <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               SEP-30-1997
<EXCHANGE-RATE>                                      1
<CASH>                                          10,868
<INT-BEARING-DEPOSITS>                          10,508
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                    266,058
<INVESTMENTS-CARRYING>                          22,712
<INVESTMENTS-MARKET>                            22,552
<LOANS>                                        391,694
<ALLOWANCE>                                      4,235
<TOTAL-ASSETS>                                 717,451
<DEPOSITS>                                     348,706
<SHORT-TERM>                                    44,250
<LIABILITIES-OTHER>                             17,080
<LONG-TERM>                                    278,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           364
<OTHER-SE>                                      29,051
<TOTAL-LIABILITIES-AND-EQUITY>                 717,451
<INTEREST-LOAN>                                 17,688
<INTEREST-INVEST>                               13,514
<INTEREST-OTHER>                                   208
<INTEREST-TOTAL>                                31,410
<INTEREST-DEPOSIT>                               8,619
<INTEREST-EXPENSE>                              17,747
<INTEREST-INCOME-NET>                           13,663
<LOAN-LOSSES>                                        0
<SECURITIES-GAINS>                                   2
<EXPENSE-OTHER>                                 11,827
<INCOME-PRETAX>                                  5,979
<INCOME-PRE-EXTRAORDINARY>                       5,979
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     3,803
<EPS-PRIMARY>                                     1.09
<EPS-DILUTED>                                     1.07
<YIELD-ACTUAL>                                    3.32
<LOANS-NON>                                      3,519
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                   187
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                 4,716
<CHARGE-OFFS>                                      638
<RECOVERIES>                                       157
<ALLOWANCE-CLOSE>                                4,235
<ALLOWANCE-DOMESTIC>                             3,583
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                            652


</TABLE>