<TABLE> <S> <C>

<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM PEOPLE'S
BANCSHARES, INC. AND SUBSIDIARY QUARTERLY FINANCIAL STATEMENTS FOR THE 6 MONTHS
ENDED JUNE 30, 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>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-31-1996
<PERIOD-END>                               JUN-30-1996
<EXCHANGE-RATE>                                      1
<CASH>                                          21,465
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                 5,031
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                    223,118
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                        250,244
<ALLOWANCE>                                      4,922
<TOTAL-ASSETS>                                 524,443
<DEPOSITS>                                     330,399
<SHORT-TERM>                                    41,200
<LIABILITIES-OTHER>                                979
<LONG-TERM>                                    120,370
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           337
<OTHER-SE>                                      27,435
<TOTAL-LIABILITIES-AND-EQUITY>                 524,443
<INTEREST-LOAN>                                  8,809
<INTEREST-INVEST>                                6,391
<INTEREST-OTHER>                                    64
<INTEREST-TOTAL>                                15,264
<INTEREST-DEPOSIT>                               4,531
<INTEREST-EXPENSE>                               8,587
<INTEREST-INCOME-NET>                            6,677
<LOAN-LOSSES>                                       75
<SECURITIES-GAINS>                                 (24)
<EXPENSE-OTHER>                                  6,157
<INCOME-PRETAX>                                  2,624
<INCOME-PRE-EXTRAORDINARY>                       2,624
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,654
<EPS-PRIMARY>                                      .55
<EPS-DILUTED>                                      .53
<YIELD-ACTUAL>                                    2.87
<LOANS-NON>                                      4,811
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                   726
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                 3,813
<CHARGE-OFFS>                                      740
<RECOVERIES>                                       122
<ALLOWANCE-CLOSE>                                4,922
<ALLOWANCE-DOMESTIC>                             3,634
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                          1,288
<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>