<TABLE> <S> <C>

<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
QUARTERLY REPORT ON FORM 10QSB FOR THE QUARTER ENDED DECEMBER 31, 1997
</LEGEND>
<CIK> 0000930540
<NAME> GILMER FINANCIAL SERVICES, INC.
<MULTIPLIER> 1
<CURRENCY> US DOLLARS
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          JUN-30-1997
<PERIOD-START>                             OCT-01-1997
<PERIOD-END>                               DEC-31-1997
<EXCHANGE-RATE>                                      1
<CASH>                                         439,007
<INT-BEARING-DEPOSITS>                       1,194,385
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                  5,577,974
<INVESTMENTS-CARRYING>                       9,974,160
<INVESTMENTS-MARKET>                         9,890,732
<LOANS>                                     23,854,061
<ALLOWANCE>                                    283,653
<TOTAL-ASSETS>                              42,298,916
<DEPOSITS>                                  29,587,127
<SHORT-TERM>                                 5,935,000
<LIABILITIES-OTHER>                            270,103
<LONG-TERM>                                  2,650,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         1,958
<OTHER-SE>                                   3,854,728
<TOTAL-LIABILITIES-AND-EQUITY>              42,298,916
<INTEREST-LOAN>                                536,519
<INTEREST-INVEST>                              230,651
<INTEREST-OTHER>                                23,539
<INTEREST-TOTAL>                               790,709
<INTEREST-DEPOSIT>                             395,437
<INTEREST-EXPENSE>                             123,468
<INTEREST-INCOME-NET>                          271,804
<LOAN-LOSSES>                                  161,500
<SECURITIES-GAINS>                                 318
<EXPENSE-OTHER>                                244,020
<INCOME-PRETAX>                               (78,730)
<INCOME-PRE-EXTRAORDINARY>                    (78,730)
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (51,351)
<EPS-PRIMARY>                                    (.28)
<EPS-DILUTED>                                    (.27)
<YIELD-ACTUAL>                                     .66
<LOANS-NON>                                    230,619
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                               299,145
<CHARGE-OFFS>                                  176,992
<RECOVERIES>                                         0
<ALLOWANCE-CLOSE>                              283,653
<ALLOWANCE-DOMESTIC>                           283,653
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                        270,405
        

</TABLE>