<TABLE> <S> <C>

<PAGE>

<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
COMPANY'S BALANCE SHEET AS OF DECEMBER 31, 1998 AND STATEMENT OF EARNINGS FOR
THE YEAR ENDED DECEMBER 31, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<CASH>                                          23,468
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                    114,463
<INVESTMENTS-CARRYING>                          19,542
<INVESTMENTS-MARKET>                            19,753
<LOANS>                                        792,222
<ALLOWANCE>                                    288,868
<TOTAL-ASSETS>                               1,084,253
<DEPOSITS>                                     510,430
<SHORT-TERM>                                   420,816
<LIABILITIES-OTHER>                             61,557
<LONG-TERM>                                    184,245
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       117,708
<OTHER-SE>                                   (210,503)
<TOTAL-LIABILITIES-AND-EQUITY>               1,084,253
<INTEREST-LOAN>                                119,444
<INTEREST-INVEST>                               25,676
<INTEREST-OTHER>                                 3,396
<INTEREST-TOTAL>                               140,516
<INTEREST-DEPOSIT>                              25,566
<INTEREST-EXPENSE>                             125,458
<INTEREST-INCOME-NET>                           15,058
<LOAN-LOSSES>                                   13,338
<SECURITIES-GAINS>                               4,024
<EXPENSE-OTHER>                                113,412
<INCOME-PRETAX>                              (205,715)
<INCOME-PRE-EXTRAORDINARY>                           0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (201,659)
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                  (18.93)
<YIELD-ACTUAL>                                       0
<LOANS-NON>                                          0
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                               118,275
<CHARGE-OFFS>                                        0
<RECOVERIES>                                     2,818
<ALLOWANCE-CLOSE>                              288,868
<ALLOWANCE-DOMESTIC>                                 0
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0
        

</TABLE>