<TABLE> <S> <C>


<ARTICLE>                     9
<LEGEND>
     THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 
     QUARTERLY REPORT ON FORM 10-Q FOR THE FISCAL QUARTER ENDED MARCH 31, 1999 
     OF MAHASKA INVESTMENT COMPANY AND IS QUALIFIED IN ITS ENTIRETY BY 
     REFERENCE TO SUCH FINANCIAL STATEMENTS
</LEGEND>
<CIK>                         0000741390
<NAME>                        MAHASKA INVESTMENT COMPANY
<MULTIPLIER>                  1,000
       
<S>                                   <C>           <C>
<PERIOD-TYPE>                         3-MOS         3-MOS
<FISCAL-YEAR-END>                     DEC-31-1999   DEC-31-1998
<PERIOD-START>                        JAN-01-1999   JAN-01-1998
<PERIOD-END>                          MAR-31-1999   MAR-31-1998
<CASH>                                      7,510         9,254
<INT-BEARING-DEPOSITS>                      1,892         4,429
<FED-FUNDS-SOLD>                            8,734        12,273
<TRADING-ASSETS>                                0             0
<INVESTMENTS-HELD-FOR-SALE>                     0             0
<INVESTMENTS-CARRYING>                     14,851        18,321
<INVESTMENTS-MARKET>                       14,965        18,387
<LOANS>                                   172,198       146,999
<ALLOWANCE>                                (2,037)       (1,872)
<TOTAL-ASSETS>                            299,255       276,013
<DEPOSITS>                                233,529       218,529
<SHORT-TERM>                               23,788        16,550
<LIABILITIES-OTHER>                         3,194         3,140
<LONG-TERM>                                     0             0
<PREFERRED-MANDATORY>                           0             0
<PREFERRED>                                     0             0
<COMMON>                                   19,038        19,038
<OTHER-SE>                                 19,706        18,756
<TOTAL-LIABILITIES-AND-EQUITY>            299,255       276,013
<INTEREST-LOAN>                             3,774         3,400
<INTEREST-INVEST>                             633           622
<INTEREST-OTHER>                            2,342         2,612
<INTEREST-TOTAL>                            6,749         6,634
<INTEREST-DEPOSIT>                          2,288         2,169
<INTEREST-EXPENSE>                          2,701         2,512
<INTEREST-INCOME-NET>                       4,048         4,122
<LOAN-LOSSES>                                 167           110
<SECURITIES-GAINS>                              0            26
<EXPENSE-OTHER>                             2,555         2,207
<INCOME-PRETAX>                             1,818         2,246
<INCOME-PRE-EXTRAORDINARY>                  1,157         1,430
<EXTRAORDINARY>                                 0             0
<CHANGES>                                       0             0
<NET-INCOME>                                1,157         1,430
<EPS-PRIMARY>                                   0.32          0.39
<EPS-DILUTED>                                   0.31          0.37
<YIELD-ACTUAL>                              10.02         10.80
<LOANS-NON>                                 1,852           972
<LOANS-PAST>                                  637           519
<LOANS-TROUBLED>                                0           351
<LOANS-PROBLEM>                                 0             0
<ALLOWANCE-OPEN>                           (2,177)       (1,816)
<CHARGE-OFFS>                                 339            64
<RECOVERIES>                                  (32)          (10)
<ALLOWANCE-CLOSE>                          (2,037)       (1,872)
<ALLOWANCE-DOMESTIC>                       (2,037)       (1,872)
<ALLOWANCE-FOREIGN>                             0             0
<ALLOWANCE-UNALLOCATED>                    (2,037)       (1,872)
        


</TABLE>