WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>


<ARTICLE>                                            9
<RESTATED>
[LEGEND]
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONDENSED
CONSOLIDATED  FINANCIAL STATEMENTS OF STATE FINANCIAL SERVICES CORPORATION AS OF
AND FOR THE 3 MONTHS  ENDED MARCH 31, 1998 AND IS  QUALIFIED  IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.     
[/LEGEND]
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                              DEC-31-1998
<PERIOD-START>                                 JAN-01-1998
<PERIOD-END>                                   MAR-31-1998
<CASH>                                         26,725,870
<INT-BEARING-DEPOSITS>                         49,646,530
<FED-FUNDS-SOLD>                               11,231,546
<TRADING-ASSETS>                               0
<INVESTMENTS-HELD-FOR-SALE>                    79,087,540
<INVESTMENTS-CARRYING>                         20,371,916
<INVESTMENTS-MARKET>                           20,579,000
<LOANS>                                        566,784,160
<ALLOWANCE>                                    4,427,957
<TOTAL-ASSETS>                                 786,652,054
<DEPOSITS>                                     631,914,835
<SHORT-TERM>                                   11,714,000
<LIABILITIES-OTHER>                            7,284,389
<LONG-TERM>                                    900,000
<PREFERRED-MANDATORY>                          1,027,919
<PREFERRED>                                    0
<COMMON>                                       0
<OTHER-SE>                                     133,810,911
<TOTAL-LIABILITIES-AND-EQUITY>                 786,652,054
<INTEREST-LOAN>                                11,964,555
<INTEREST-INVEST>                              2,041,755
<INTEREST-OTHER>                               236,240
<INTEREST-TOTAL>                               14,242,550
<INTEREST-DEPOSIT>                             6,193,649
<INTEREST-EXPENSE>                             6,357,337
<INTEREST-INCOME-NET>                          7,885,213
<LOAN-LOSSES>                                  172,500
<SECURITIES-GAINS>                             202,058
<EXPENSE-OTHER>                                6,850,816
<INCOME-PRETAX>                                2,481,875
<INCOME-PRE-EXTRAORDINARY>                     1,600,239
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                                   1,600,239
<EPS-PRIMARY>                                  0.17
<EPS-DILUTED>                                  0.16
<YIELD-ACTUAL>                                 8.02
<LOANS-NON>                                    3,287,000
<LOANS-PAST>                                   68,000
<LOANS-TROUBLED>                               0
<LOANS-PROBLEM>                                900,000
<ALLOWANCE-OPEN>                               4,370,000
<CHARGE-OFFS>                                  155,000
<RECOVERIES>                                   40,000
<ALLOWANCE-CLOSE>                              4,428,000
<ALLOWANCE-DOMESTIC>                           4,428,000
<ALLOWANCE-FOREIGN>                            0
<ALLOWANCE-UNALLOCATED>                        4,428,000
        


</TABLE>