<TABLE> <S> <C>


<ARTICLE>                                            9
<LEGEND>
This schedule is a compilation of information appearing in the financial
statements that are included in the Annual Report on Form 10-K of Merchants New
York Bancorp for the year ended March 31, 1998. It is qualified in its entirety
by reference to those financial statements.
</LEGEND>

       
<S>                              <C>                     <C>
<PERIOD-TYPE>                    3-MOS                   12-MOS
<FISCAL-YEAR-END>                            DEC-31-1998             DEC-31-1997
<PERIOD-END>                                 MAR-31-1998             MAR-31-1997
<CASH>                                        62,253,034              45,304,926    
<INT-BEARING-DEPOSITS>                           407,568                 469,656    
<FED-FUNDS-SOLD>                                       0              10,000,000    
<TRADING-ASSETS>                                       0                       0    
<INVESTMENTS-HELD-FOR-SALE>                  581,438,004             624,083,845    
<INVESTMENTS-CARRYING>                       205,413,436             160,698,901    
<INVESTMENTS-MARKET>                         210,101,375             161,861,457    
<LOANS>                                      309,941,713             280,003,312    
<ALLOWANCE>                                    6,817,083               6,000,033    
<TOTAL-ASSETS>                             1,189,233,254           1,154,838,316    
<DEPOSITS>                                   870,563,044             855,158,109    
<SHORT-TERM>                                 175,424,890             167,527,809    
<LIABILITIES-OTHER>                           36,119,479              30,604,791    
<LONG-TERM>                                            0                       0    
<PREFERRED-MANDATORY>                                  0                       0    
<PREFERRED>                                            0                       0    
<COMMON>                                           9,989                   4,994    
<OTHER-SE>                                   107,115,852             101,542,613    
<TOTAL-LIABILITIES-AND-EQUITY>             1,189,233,254           1,154,838,316    
<INTEREST-LOAN>                                7,141,745               6,204,420    
<INTEREST-INVEST>                             13,068,962              13,264,086    
<INTEREST-OTHER>                                 367,551                 109,204    
<INTEREST-TOTAL>                              20,578,258              19,577,710    
<INTEREST-DEPOSIT>                             7,110,153               7,151,029    
<INTEREST-EXPENSE>                             9,500,657               8,866,746    
<INTEREST-INCOME-NET>                         11,077,601              10,710,964    
<LOAN-LOSSES>                                    400,000                 250,000    
<SECURITIES-GAINS>                                     0                       0    
<EXPENSE-OTHER>                                6,210,740               5,657,961    
<INCOME-PRETAX>                                5,730,134               5,992,615    
<INCOME-PRE-EXTRAORDINARY>                             0                       0    
<EXTRAORDINARY>                                        0                       0    
<CHANGES>                                              0                       0    
<NET-INCOME>                                   3,687,453               3,391,083    
<EPS-PRIMARY>                                       0.38                    0.34 
<EPS-DILUTED>                                       0.37                    0.34 
<YIELD-ACTUAL>                                      4.33                    4.41 
<LOANS-NON>                                      158,000               1,000,000
<LOANS-PAST>                                   1,763,000               1,215,000 
<LOANS-TROUBLED>                                       0                       0    
<LOANS-PROBLEM>                                        0                       0    
<ALLOWANCE-OPEN>                               6,167,000               5,617,000    
<CHARGE-OFFS>                                          0                       0    
<RECOVERIES>                                     249,926                 133,000    
<ALLOWANCE-CLOSE>                              6,817,083               6,000,000    
<ALLOWANCE-DOMESTIC>                             101,000                 520,000    
<ALLOWANCE-FOREIGN>                                    0                       0    
<ALLOWANCE-UNALLOCATED>                        6,716,083               5,480,000    
                                                       
                                             

</TABLE>