<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 SIX
MONTHS ENDED JUNE 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>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<EXCHANGE-RATE>                                      1
<CASH>                                          13,598
<INT-BEARING-DEPOSITS>                           9,018
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                    269,610
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                        254,557
<ALLOWANCE>                                      4,355
<TOTAL-ASSETS>                                 585,678
<DEPOSITS>                                     335,568
<SHORT-TERM>                                    63,200
<LIABILITIES-OTHER>                              5,940
<LONG-TERM>                                    147,500
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           360
<OTHER-SE>                                      33,110
<TOTAL-LIABILITIES-AND-EQUITY>                 585,678
<INTEREST-LOAN>                                 11,150
<INTEREST-INVEST>                                8,808
<INTEREST-OTHER>                                    58
<INTEREST-TOTAL>                                20,016
<INTEREST-DEPOSIT>                               5,709
<INTEREST-EXPENSE>                              10,983
<INTEREST-INCOME-NET>                            9,033
<LOAN-LOSSES>                                        0
<SECURITIES-GAINS>                                  (3)
<EXPENSE-OTHER>                                  7,587
<INCOME-PRETAX>                                  4,063
<INCOME-PRE-EXTRAORDINARY>                       4,063
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     2,584
<EPS-PRIMARY>                                      .72
<EPS-DILUTED>                                      .71
<YIELD-ACTUAL>                                    3.47
<LOANS-NON>                                      3,991
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                   197
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                 4,716
<CHARGE-OFFS>                                      481
<RECOVERIES>                                       120
<ALLOWANCE-CLOSE>                                4,355
<ALLOWANCE-DOMESTIC>                             3,443
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                            892


</TABLE>