<TABLE> <S> <C>


<ARTICLE> 9
<LEGEND>
The schedule contains summary financial information extracted from the quarterly
report on Form 10QSB for the quarter ended December 31, 1996.
</LEGEND>
<RESTATED> 
<CIK> 0000930540
<NAME> GILMER FINANCIAL SERVICES, INC.
<MULTIPLIER> 1
<CURRENCY> US DOLLARS
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          JUN-30-1996
<PERIOD-START>                             OCT-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<CASH>                                         528,774
<INT-BEARING-DEPOSITS>                         650,742
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                  4,875,526
<INVESTMENTS-CARRYING>                      11,046,140
<INVESTMENTS-MARKET>                        10,793,210
<LOANS>                                     22,967,059
<ALLOWANCE>                                    212,801
<TOTAL-ASSETS>                              40,540,371
<DEPOSITS>                                  27,556,688
<SHORT-TERM>                                 6,460,000
<LIABILITIES-OTHER>                            107,770
<LONG-TERM>                                  2,650,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         1,958
<OTHER-SE>                                   3,763,955
<TOTAL-LIABILITIES-AND-EQUITY>              40,540,371
<INTEREST-LOAN>                                489,330
<INTEREST-INVEST>                              219,190
<INTEREST-OTHER>                                16,888
<INTEREST-TOTAL>                               725,408
<INTEREST-DEPOSIT>                             321,126
<INTEREST-EXPENSE>                             127,236
<INTEREST-INCOME-NET>                          277,046
<LOAN-LOSSES>                                   16,000
<SECURITIES-GAINS>                             (4,300)
<EXPENSE-OTHER>                                243,778
<INCOME-PRETAX>                                 67,894
<INCOME-PRE-EXTRAORDINARY>                      67,894
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    46,254
<EPS-PRIMARY>                                      .23
<EPS-DILUTED>                                        0
<YIELD-ACTUAL>                                    2.83
<LOANS-NON>                                    661,298
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                               199,084
<CHARGE-OFFS>                                    2,283
<RECOVERIES>                                         0
<ALLOWANCE-CLOSE>                              212,801
<ALLOWANCE-DOMESTIC>                           212,801
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                        195,953
        


</TABLE>