<TABLE> <S> <C>

<PAGE>

<ARTICLE> 9
<LEGEND>
The Schedule contains summary financial information extracted from the quarterly
report on Form 10QSB for qtr ended Sept. 30, 1996 and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<RESTATED> 
<CIK> 0000930540
<NAME> GILMER FINANCIAL SERV
<MULTIPLIER> 1
<CURRENCY> US DOLLARS
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          JUN-30-1996
<PERIOD-START>                             JUL-01-1996
<PERIOD-END>                               SEP-30-1996
<EXCHANGE-RATE>                                      1
<CASH>                                         265,231
<INT-BEARING-DEPOSITS>                         428,932
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                  4,855,556
<INVESTMENTS-CARRYING>                      11,212,263
<INVESTMENTS-MARKET>                        10,891,373
<LOANS>                                     21,999,631
<ALLOWANCE>                                    199,084
<TOTAL-ASSETS>                              39,224,860
<DEPOSITS>                                  25,623,875
<SHORT-TERM>                                 6,220,000
<LIABILITIES-OTHER>                            270,998
<LONG-TERM>                                  2,650,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         2,001
<OTHER-SE>                                   3,811,776
<TOTAL-LIABILITIES-AND-EQUITY>              39,224,860
<INTEREST-LOAN>                                463,373
<INTEREST-INVEST>                                5,979
<INTEREST-OTHER>                                15,820
<INTEREST-TOTAL>                               729,168
<INTEREST-DEPOSIT>                             311,733
<INTEREST-EXPENSE>                             127,764
<INTEREST-INCOME-NET>                          289,671
<LOAN-LOSSES>                                    6,000
<SECURITIES-GAINS>                               1,071
<EXPENSE-OTHER>                                403,923
<INCOME-PRETAX>                               (62,865)
<INCOME-PRE-EXTRAORDINARY>                    (62,865)
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (42,935)
<EPS-PRIMARY>                                    (.21)
<EPS-DILUTED>                                        0
<YIELD-ACTUAL>                                    3.01
<LOANS-NON>                                    468,548
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                               214,724
<CHARGE-OFFS>                                   21,640
<RECOVERIES>                                         0
<ALLOWANCE-CLOSE>                              199,084
<ALLOWANCE-DOMESTIC>                           199,084
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                        181,337
        



</TABLE>