<TABLE> <S> <C>

<PAGE>
 
<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
COMPANY'S BALANCE SHEET AS OF MARCH 31, 1998 AND STATEMENT OF EARNINGS FOR THE
THREE 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>                                          45,914     
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                20,674
<INVESTMENTS-HELD-FOR-SALE>                    331,301
<INVESTMENTS-CARRYING>                          23,543
<INVESTMENTS-MARKET>                            23,687
<LOANS>                                      1,050,444
<ALLOWANCE>                                    350,297
<TOTAL-ASSETS>                               1,778,046
<DEPOSITS>                                     368,990      
<SHORT-TERM>                                 1,068,091
<LIABILITIES-OTHER>                             25,414
<LONG-TERM>                                    184,245
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       118,335
<OTHER-SE>                                      12,971
<TOTAL-LIABILITIES-AND-EQUITY>               1,778,046
<INTEREST-LOAN>                                 24,889
<INTEREST-INVEST>                                9,929
<INTEREST-OTHER>                                     0
<INTEREST-TOTAL>                                34,818
<INTEREST-DEPOSIT>                               5,386
<INTEREST-EXPENSE>                              30,460
<INTEREST-INCOME-NET>                            4,398
<LOAN-LOSSES>                                  (1,500)
<SECURITIES-GAINS>                               3,543
<EXPENSE-OTHER>                                 19,797   
<INCOME-PRETAX>                                (7,801)
<INCOME-PRE-EXTRAORDINARY>                     (4,665)
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (4,665)
<EPS-PRIMARY>                                   (0.52)
<EPS-DILUTED>                                   (0.52)
<YIELD-ACTUAL>                                       0
<LOANS-NON>                                          0
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                38,281
<LOANS-PROBLEM>                                  5,829
<ALLOWANCE-OPEN>                               118,275
<CHARGE-OFFS>                                    4,802
<RECOVERIES>                                     2,100    
<ALLOWANCE-CLOSE>                              350,297
<ALLOWANCE-DOMESTIC>                           350,297
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0
        

</TABLE>