<TABLE> <S> <C>

<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM PEOPLE'S
BANCSHARES, INC. AND SUBSIDIARIES QUARTERLY FINANCIAL STATEMENTS FOR THE THREE
MONTHS ENDED MARCH 31, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS CONTAINED IN SUCH FORM 10-Q.
</LEGEND>
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               MAR-31-1998
<EXCHANGE-RATE>                                      1
<CASH>                                          11,989
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                22,871
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                    231,591
<INVESTMENTS-CARRYING>                          79,435
<INVESTMENTS-MARKET>                            79,097
<LOANS>                                        453,335
<ALLOWANCE>                                      4,316
<TOTAL-ASSETS>                                 862,000
<DEPOSITS>                                     386,199
<SHORT-TERM>                                   217,350
<LIABILITIES-OTHER>                              6,529
<LONG-TERM>                                    219,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           366
<OTHER-SE>                                      31,259
<TOTAL-LIABILITIES-AND-EQUITY>                 862,000
<INTEREST-LOAN>                                  7,976
<INTEREST-INVEST>                                5,649
<INTEREST-OTHER>                                   108
<INTEREST-TOTAL>                                13,733
<INTEREST-DEPOSIT>                               3,328
<INTEREST-EXPENSE>                               8,905
<INTEREST-INCOME-NET>                            4,828
<LOAN-LOSSES>                                      150
<SECURITIES-GAINS>                                (70)
<EXPENSE-OTHER>                                  4,100
<INCOME-PRETAX>                                  2,265
<INCOME-PRE-EXTRAORDINARY>                           0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,440
<EPS-PRIMARY>                                     0.44
<EPS-DILUTED>                                     0.43
<YIELD-ACTUAL>                                    2.56
<LOANS-NON>                                      3,491
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                 4,291
<CHARGE-OFFS>                                      213
<RECOVERIES>                                        88
<ALLOWANCE-CLOSE>                                4,316
<ALLOWANCE-DOMESTIC>                             3,688
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                            628
        

</TABLE>