<TABLE> <S> <C>

<ARTICLE> 9
<LEGEND>
This schedule contains summary financial information extracted from the
consolidated statement of financial condition and the consolidated statement of
operations and notes thereto found on pages 1 through 12 of the Company's Form
10-Q for year-to-date and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                          24,336
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                    181,645
<INVESTMENTS-CARRYING>                       1,337,588
<INVESTMENTS-MARKET>                         1,299,087
<LOANS>                                      1,226,687
<ALLOWANCE>                                      6,906
<TOTAL-ASSETS>                               2,852,767
<DEPOSITS>                                   1,315,751
<SHORT-TERM>                                 1,167,612
<LIABILITIES-OTHER>                             51,648
<LONG-TERM>                                    220,153
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                            50
<OTHER-SE>                                      97,553
<TOTAL-LIABILITIES-AND-EQUITY>               2,852,767
<INTEREST-LOAN>                                 26,015
<INTEREST-INVEST>                               23,192
<INTEREST-OTHER>                                   397
<INTEREST-TOTAL>                                49,604
<INTEREST-DEPOSIT>                              15,166
<INTEREST-EXPENSE>                              34,956
<INTEREST-INCOME-NET>                           14,648
<LOAN-LOSSES>                                      450
<SECURITIES-GAINS>                                   0
<EXPENSE-OTHER>                                 10,204
<INCOME-PRETAX>                                  5,463
<INCOME-PRE-EXTRAORDINARY>                       5,463
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     3,238
<EPS-PRIMARY>                                     0.64
<EPS-DILUTED>                                     0.64
<YIELD-ACTUAL>                                       0
<LOANS-NON>                                          0
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                     0
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                                 6,880
<CHARGE-OFFS>                                      442
<RECOVERIES>                                        18
<ALLOWANCE-CLOSE>                                6,906
<ALLOWANCE-DOMESTIC>                             6,906
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0
        

</TABLE>