<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 NINE
MONTHS ENDED SEPTEMBER 30, 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>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               SEP-30-1998
<EXCHANGE-RATE>                                      1
<CASH>                                          13,676
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                12,512
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                    262,922
<INVESTMENTS-CARRYING>                          90,671
<INVESTMENTS-MARKET>                            91,402
<LOANS>                                        494,609
<ALLOWANCE>                                      4,561
<TOTAL-ASSETS>                                 891,758
<DEPOSITS>                                     420,713
<SHORT-TERM>                                    20,300
<LIABILITIES-OTHER>                             11,019
<LONG-TERM>                                    407,000
<PREFERRED-MANDATORY>                              367
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                      32,359
<TOTAL-LIABILITIES-AND-EQUITY>                 891,758
<INTEREST-LOAN>                                 26,741
<INTEREST-INVEST>                               17,461
<INTEREST-OTHER>                                   291
<INTEREST-TOTAL>                                44,493
<INTEREST-DEPOSIT>                              11,073
<INTEREST-EXPENSE>                              28,501
<INTEREST-INCOME-NET>                           15,992
<LOAN-LOSSES>                                      450
<SECURITIES-GAINS>                                 949
<EXPENSE-OTHER>                                 14,147
<INCOME-PRETAX>                                  8,092
<INCOME-PRE-EXTRAORDINARY>                       5,182
<EXTRAORDINARY>                                      0
<CHANGES>                                          186
<NET-INCOME>                                     4,996
<EPS-PRIMARY>                                     1.51
<EPS-DILUTED>                                     1.47
<YIELD-ACTUAL>                                    2.68
<LOANS-NON>                                      1,905
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                 4,291
<CHARGE-OFFS>                                      480
<RECOVERIES>                                       300
<ALLOWANCE-CLOSE>                                4,561
<ALLOWANCE-DOMESTIC>                             3,824
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                            737
        

</TABLE>