<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  JUNE 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>
<FISCAL-YEAR-END>                               DEC-31-1998  DEC-31-1997
<PERIOD-TYPE>                                   3-MOS        3-MOS
<PERIOD-END>                                    JUN-30-1998  JUN-30-1997
<CASH>                                               13,616        9,972
<INT-BEARING-DEPOSITS>                                  225          748
<FED-FUNDS-SOLD>                                        817          675
<TRADING-ASSETS>                                          0            0
<INVESTMENTS-HELD-FOR-SALE>                               0            0
<INVESTMENTS-CARRYING>                               16,879       23,157
<INVESTMENTS-MARKET>                                 16,934       23,099
<LOANS>                                             159,031      132,496
<ALLOWANCE>                                          (1,736)      (1,619)
<TOTAL-ASSETS>                                      276,533      254,447
<DEPOSITS>                                          217,163      205,659
<SHORT-TERM>                                         18,300       11,350
<LIABILITIES-OTHER>                                   2,568        2,653
<LONG-TERM>                                               0            0
<COMMON>                                             19,038       11,423
<PREFERRED-MANDATORY>                                     0            0
<PREFERRED>                                               0            0
<OTHER-SE>                                           19,464       23,362
<TOTAL-LIABILITIES-AND-EQUITY>                      276,533      254,447
<INTEREST-LOAN>                                       3,652        7,052 
<INTEREST-INVEST>                                       632        1,254 
<INTEREST-OTHER>                                      2,354        4,966 
<INTEREST-TOTAL>                                      6,638       13,272 
<INTEREST-DEPOSIT>                                    2,217        4,386 
<INTEREST-EXPENSE>                                    2,533        5,045 
<INTEREST-INCOME-NET>                                 4,105        8,227 
<LOAN-LOSSES>                                           177          287 
<SECURITIES-GAINS>                                        0           26 
<EXPENSE-OTHER>                                       2,228        4,435 
<INCOME-PRETAX>                                       2,142        4,388 
<INCOME-PRE-EXTRAORDINARY>                            1,374        2,804 
<EXTRAORDINARY>                                           0            0
<CHANGES>                                                 0            0
<NET-INCOME>                                          1,374        2,804 
<EPS-PRIMARY>                                          0.37         0.76 
<EPS-DILUTED>                                          0.35         0.72 
<YIELD-ACTUAL>                                        10.47        10.63
<LOANS-NON>                                             533            0 
<LOANS-PAST>                                            856            0
<LOANS-TROUBLED>                                        160            0
<LOANS-PROBLEM>                                           0            0
<ALLOWANCE-OPEN>                                     (1,872)      (1,816)
<CHARGE-OFFS>                                           316          381 
<RECOVERIES>                                             (3)         (14)
<ALLOWANCE-CLOSE>                                    (1,736)      (1,736)
<ALLOWANCE-DOMESTIC>                                 (1,736)      (1,736)
<ALLOWANCE-FOREIGN>                                       0            0
<ALLOWANCE-UNALLOCATED>                              (1,736)      (1,736)
        

</TABLE>