<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 SEPTEMBER 30, 
     1998 OF MAHASKA INVESTMENT COMPANY AND IS QUALIFIED IN ITS ENTIRETY BY 
     REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER>  1,000
       
<S>                                      <C>           <C>
<PERIOD-TYPE>                            3-MOS         3-MOS
<FISCAL-YEAR-END>                        DEC-31-1998   DEC-31-1997
<PERIOD-END>                             SEP-30-1998   SEP-30-1997
<CASH>                                        11,951         8,187
<INT-BEARING-DEPOSITS>                            76         1,873
<FED-FUNDS-SOLD>                               1,955             0
<TRADING-ASSETS>                                   0             0
<INVESTMENTS-HELD-FOR-SALE>                        0             0
<INVESTMENTS-CARRYING>                        16,698        22,320
<INVESTMENTS-MARKET>                          16,851        22,328
<LOANS>                                      166,250       138,550
<ALLOWANCE>                                   (1,873)       (1,740)
<TOTAL-ASSETS>                               293,949       256,790
<DEPOSITS>                                   220,557       205,151
<SHORT-TERM>                                  32,824        13,100
<LIABILITIES-OTHER>                            2,635         3,060
<LONG-TERM>                                        0             0
<COMMON>                                      19,038        11,423
<PREFERRED-MANDATORY>                              0             0
<PREFERRED>                                        0             0
<OTHER-SE>                                    18,895        24,056
<TOTAL-LIABILITIES-AND-EQUITY>               293,949       256,790
<INTEREST-LOAN>                                3,986        11,038
<INTEREST-INVEST>                                635         1,889
<INTEREST-OTHER>                               1,563         6,529  
<INTEREST-TOTAL>                               6,184        19,456 
<INTEREST-DEPOSIT>                             2,247         6,633
<INTEREST-EXPENSE>                             2,629         7,674
<INTEREST-INCOME-NET>                          3,555        11,782
<LOAN-LOSSES>                                    307           594
<SECURITIES-GAINS>                                 0            26
<EXPENSE-OTHER>                                2,245         6,680
<INCOME-PRETAX>                                1,518         5,906
<INCOME-PRE-EXTRAORDINARY>                       977         3,781
<EXTRAORDINARY>                                    0             0
<CHANGES>                                          0             0
<NET-INCOME>                                     977         3,781
<EPS-PRIMARY>                                   0.27          1.03
<EPS-DILUTED>                                   0.26          0.98
<YIELD-ACTUAL>                                  9.58         10.29
<LOANS-NON>                                    1,147           719
<LOANS-PAST>                                     367           309
<LOANS-TROUBLED>                                 165           384
<LOANS-PROBLEM>                                    0             0
<ALLOWANCE-OPEN>                              (1,736)       (1,816)
<CHARGE-OFFS>                                    171           552
<RECOVERIES>                                      (1)          (15)
<ALLOWANCE-CLOSE>                             (1,873)       (1,873)
<ALLOWANCE-DOMESTIC>                          (1,873)       (1,873)
<ALLOWANCE-FOREIGN>                                0             0  
<ALLOWANCE-UNALLOCATED>                       (1,873)       (1,873)

        

</TABLE>