<TABLE> <S> <C>

<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
UNAUDITED FINANCIAL STATEMENTS FOR INDEPENDENT BANKSHARES, INC. FOR THE THREE
MONTHS ENDED MARCH 31, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                      16,256,000
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                            35,700,000
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                 19,374,000
<INVESTMENTS-CARRYING>                      63,137,000
<INVESTMENTS-MARKET>                        63,332,000
<LOANS>                                    140,047,000<F1>
<ALLOWANCE>                                  1,121,000
<TOTAL-ASSETS>                             269,039,000
<DEPOSITS>                                 246,810,000
<SHORT-TERM>                                     5,000
<LIABILITIES-OTHER>                          1,325,000
<LONG-TERM>                                          0
<PREFERRED-MANDATORY>                           55,000
<PREFERRED>                                     55,000
<COMMON>                                       494,000
<OTHER-SE>                                  20,350,000
<TOTAL-LIABILITIES-AND-EQUITY>             269,039,000
<INTEREST-LOAN>                              3,144,000
<INTEREST-INVEST>                            1,017,000
<INTEREST-OTHER>                               414,000
<INTEREST-TOTAL>                             4,575,000
<INTEREST-DEPOSIT>                           2,152,000
<INTEREST-EXPENSE>                           2,153,000
<INTEREST-INCOME-NET>                        2,422,000
<LOAN-LOSSES>                                  175,000
<SECURITIES-GAINS>                                   0
<EXPENSE-OTHER>                              2,183,000
<INCOME-PRETAX>                                723,000
<INCOME-PRE-EXTRAORDINARY>                     723,000
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   455,000
<EPS-PRIMARY>                                     0.23
<EPS-DILUTED>                                     0.22
<YIELD-ACTUAL>                                    4.10
<LOANS-NON>                                     63,000
<LOANS-PAST>                                    53,000
<LOANS-TROUBLED>                                98,000
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                             1,173,000
<CHARGE-OFFS>                                  240,000
<RECOVERIES>                                    13,000
<ALLOWANCE-CLOSE>                            1,121,000
<ALLOWANCE-DOMESTIC>                         1,121,000
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                        283,000
<FN>
<F1>Net of unearned income on installment loans of $1,157,000.
</FN>
        

</TABLE>