<TABLE> <S> <C>

<ARTICLE> 9
<LEGEND>
THIS SHCEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM PEOPLE'S
BANCSHARES, INC. AND SUBSIDIARY QUARTERLY FINANCIAL STATEMENTS FOR THE 3 MONTHS
ENDED MARCH 31, 1996 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>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAR-31-1996
<EXCHANGE-RATE>                                      1
<CASH>                                          19,182
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                    26
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                    223,458
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                        251,160
<ALLOWANCE>                                      5,166
<TOTAL-ASSETS>                                 533,134
<DEPOSITS>                                     322,261
<SHORT-TERM>                                    37,367
<LIABILITIES-OTHER>                             30,154
<LONG-TERM>                                    115,970
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           334
<OTHER-SE>                                      27,048
<TOTAL-LIABILITIES-AND-EQUITY>                 533,134
<INTEREST-LOAN>                                  3,674
<INTEREST-INVEST>                                2,902
<INTEREST-OTHER>                                    32
<INTEREST-TOTAL>                                 6,609
<INTEREST-DEPOSIT>                               1,752
<INTEREST-EXPENSE>                               3,655
<INTEREST-INCOME-NET>                            2,954
<LOAN-LOSSES>                                       75
<SECURITIES-GAINS>                                 (24)
<EXPENSE-OTHER>                                  2,680
<INCOME-PRETAX>                                  1,094
<INCOME-PRE-EXTRAORDINARY>                       1,094
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       687
<EPS-PRIMARY>                                      .26
<EPS-DILUTED>                                      .25
<YIELD-ACTUAL>                                    3.38
<LOANS-NON>                                      5,491
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                   603
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                 3,813
<CHARGE-OFFS>                                      437
<RECOVERIES>                                        63
<ALLOWANCE-CLOSE>                                5,166
<ALLOWANCE-DOMESTIC>                             3,745
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                          1,421
<FN>
The Company recorded $1.7 million in loan loss allowance from the acquisition
of five branches from subsidiaries of Fleet Financial Group, Inc. on March 8,
1996.
</FN>


</TABLE>