ARMADA FUNDS
NSAR-B, 1996-07-23
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<PAGE>      PAGE  1
000 B000000 05/31/96
000 C000000 778202
000 D000000 N
000 E000000 F
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 ARMADA FUNDS
001 B000000 811-4416
001 C000000 3027912919
002 A000000 290 DONALD LYNCH BOULEVARD
002 B000000 MARLBOROUGH
002 C000000 MA
002 D010000 01752
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000 11
007 C010100  1
007 C020100 MONEY MARKET FUND
007 C030100 N
007 C010200  2
007 C020200 GOVERNMENT FUND
007 C030200 N
007 C010300  3
007 C020300 TREASURY FUND
007 C030300 N
007 C010400  4
007 C020400 TAX-EXEMPT FUND
007 C030400 N
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C020800 EQUITY FUND
007 C030800 N
007 C010900  9
007 C020900 FIXED INCOME FUND
007 C030900 N
007 C011000 10
007 C021000 OHIO TAX EXEMPT FUND
007 C031000 N
007 C011100 11
007 C021100 EQUITY INCOME FUND
007 C031100 N
007 C011200 12
007 C021200 MID CAP REGIONAL EQUITY FUND
<PAGE>      PAGE  2
007 C031200 N
007 C011300 13
007 C021300 ENHANCED INCOME FUND
007 C031300 N
007 C011400 14
007 C021400 TOTAL RETURN ADVANTAGE FUND
007 C031400 N
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
008 A00AA01 NATIONAL CITY BANK
008 B00AA01 A
008 C00AA01 801-0000
008 D01AA01 CLEVELAND
008 D02AA01 OH
008 D03AA01 44114
008 A00AA02 NATIONAL CITY BANK, COLUMBUS
008 B00AA02 A
008 C00AA02 801-0000
008 D01AA02 COLUMBUS
008 D02AA02 OH
008 D03AA02 43251
008 A00AA03 NATIONAL CITY BANK, KENTUCKY
008 B00AA03 A
008 C00AA03 801-0000
008 D01AA03 LOUISVILLE
008 D02AA03 KY
008 D03AA03 40202
008 A00AA04 NATIONAL ASSET MANAGEMENT CORPORATION
008 B00AA04 A
008 C00AA04 801-0000
008 D01AA04 LOUISVILLE
008 D02AA04 KY
008 D03AA04 40202
010 A00AA01 PFPC INC.
010 B00AA01 85-1196
010 C01AA01 WILMINGTON
010 C02AA01 DE
010 C03AA01 19809
011 A00AA01 440 FINANCIAL DISTRIBUTORS, INC.
011 B00AA01 8-8-33488
011 C01AA01 MARLBOROUGH
011 C02AA01 MA
011 C03AA01 01752
012 A00AA01 FIRST DATA INVESTOR SERVICES GROUP
012 B00AA01 85-33488
012 C01AA01 WORCESTER
012 C02AA01 MA
<PAGE>      PAGE  3
012 C03AA01 01653
013 A00AA01 ERNST AND YOUNG L.L.P.
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19103
018  00AA00 Y
019 A00AA00 N
019 B00AA00    0
020 A000001 INSTINET
020 B000001 13-3443395
020 C000001     78
020 A000002 BRIDGE TRADING
020 B000002 43-1450530
020 C000002     63
020 A000003 DONALDSON, LUFKIN & JENRETTE
020 B000003 13-2638130
020 C000003     58
020 A000004 PAINE WEBBER JACKSON CURTIS
020 B000004 13-2638106
020 C000004     44
020 A000005 MORGAN STANLEY & CO., INC.
020 B000005 13-2655998
020 C000005     44
020 A000006 MERRILL LYNCH, PIERCE, FENNER
020 B000006 13-5674085
020 C000006     38
020 A000007 CS FIRST BOSTON CORP.
020 B000007 13-5659485
020 C000007     35
020 A000008 SMITH BARNEY SHEARSON
020 B000008 13-1912900
020 C000008     32
020 A000009 BEAR STEARNS & CO., INC.
020 B000009 13-3299429
020 C000009     30
020 A000010 STANDARD & POOR'S
020 B000010 13-2671951
020 C000010     29
021  000000      737
022 A000001 CS FIRST BOSTON
022 B000001 13-5659485
022 C000001  30279726
022 D000001     15596
022 A000002 LEHMAN BROTHERS
022 B000002 13-2518466
022 C000002  19514034
022 D000002     27288
022 A000003 PRUDENTIAL SECURITIES
022 B000003 22-2347336
022 C000003  17596237
022 D000003     44222
<PAGE>      PAGE  4
022 A000004 DEAN WITTER REYNOLDS
022 B000004 94-1671384
022 C000004   5870650
022 D000004         0
022 A000005 GOLDMAN SACHS
022 B000005 13-5108880
022 C000005   4435252
022 D000005   1322948
022 A000006 FUJI BANK & TRUST
022 B000006 36-2880742
022 C000006   5366278
022 D000006         0
022 A000007 MERRILL LYNCH, PIERCE, FENNER
022 B000007 13-5674085
022 C000007   2525035
022 D000007    318489
022 A000008 PAINE WEBBER JACKSON CURTIS
022 B000008 13-2638106
022 C000008   2293982
022 D000008     96934
022 A000009 SMITH BARNEY SHEARSON
022 B000009 13-1912900
022 C000009    894042
022 D000009     90460
022 A000010 BT SECURITIES
022 B000010 13-4941247
022 C000010    583726
022 D000010         0
023 C000000   92891814
023 D000000    3502285
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
049  00AA00 N
050  00AA00 N
051  00AA00 N
052  00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
<PAGE>      PAGE  5
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078  000000 N
080 A00AA00 NATIONAL UNION FIRE INSURANCE CO.
080 C00AA00     2500
081 A00AA00 N
081 B00AA00   0
082 A00AA00 N
082 B00AA00        0
083 A00AA00 N
083 B00AA00        0
084 A00AA00 N
084 B00AA00        0
085 A00AA00 Y
085 B00AA00 N
086 A010000      0
086 A020000      0
086 B010000      0
086 B020000      0
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
<PAGE>      PAGE  6
086 E010000      0
086 E020000      0
086 F010000      0
086 F020000      0
015 A000101 NATIONAL CITY BANK
015 B000101 C
015 C010101 CLEVELAND
015 C020101 OH
015 C030101 44135
015 E030101 X
024  000100 Y
025 A000101 CS FIRST BOSTON
025 B000101 13-5659485
025 C000101 D
025 D000101   75171
025 A000102 GOLDMAN SACHS
025 B000102 13-5108880
025 C000102 E
025 D000102   19920
025 D000103       0
025 D000104       0
025 D000105       0
025 D000106       0
025 D000107       0
025 D000108       0
028 A010100    489381
028 A020100       960
028 A030100         0
028 A040100    456460
028 B010100    354030
028 B020100      1010
028 B030100         0
028 B040100    369013
028 C010100    384788
028 C020100       981
028 C030100         0
028 C040100    291542
028 D010100    301409
028 D020100       944
028 D030100         0
028 D040100    344152
028 E010100    379619
028 E020100      1143
028 E030100         0
028 E040100    356922
028 F010100    543854
028 F020100      1079
028 F030100         0
028 F040100    403652
028 G010100   2453081
028 G020100      6117
<PAGE>      PAGE  7
028 G030100         0
028 G040100   2221741
028 H000100         0
029  000100 N
030 A000100      0
030 B000100  0.00
030 C000100  0.00
031 A000100      0
031 B000100      0
032  000100      0
033  000100      0
034  000100 N
035  000100      0
036 B000100      0
037  000100 N
038  000100      0
039  000100 N
040  000100 Y
041  000100 Y
042 A000100   0
042 B000100   0
042 C000100   0
042 D000100   0
042 E000100   0
042 F000100   0
042 G000100   0
042 H000100 100
043  000100    467
044  000100      0
045  000100 Y
046  000100 Y
047  000100 Y
048  000100  0.350
048 A010100        0
048 A020100 0.000
048 B010100        0
048 B020100 0.000
048 C010100        0
048 C020100 0.000
048 D010100        0
048 D020100 0.000
048 E010100        0
048 E020100 0.000
048 F010100        0
048 F020100 0.000
048 G010100        0
048 G020100 0.000
048 H010100        0
048 H020100 0.000
048 I010100        0
048 I020100 0.000
<PAGE>      PAGE  8
048 J010100        0
048 J020100 0.000
048 K010100        0
048 K020100 0.000
055 A000100 N
055 B000100 N
056  000100 Y
057  000100 N
058 A000100 N
059  000100 Y
060 A000100 Y
060 B000100 Y
061  000100        0
062 A000100 Y
062 B000100   0.0
062 C000100  14.5
062 D000100   4.4
062 E000100   0.0
062 F000100   0.0
062 G000100   0.0
062 H000100   0.0
062 I000100  77.2
062 J000100   0.0
062 K000100   0.0
062 L000100   0.0
062 M000100   0.0
062 N000100   0.0
062 O000100   0.0
062 P000100   0.0
062 Q000100   0.0
062 R000100   3.9
063 A000100  44
063 B000100  0.0
064 A000100 N
064 B000100 N
066 A000100 N
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
<PAGE>      PAGE  9
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100         0
071 B000100         0
071 C000100         0
071 D000100    0
072 A000100 12
072 B000100    83412
072 C000100        0
072 D000100        0
072 E000100        0
072 F000100     3687
072 G000100      421
072 H000100        0
072 I000100      270
072 J000100       38
072 K000100        0
072 L000100       29
072 M000100       48
072 N000100      167
072 O000100        0
072 P000100        0
072 Q000100        0
072 R000100       57
072 S000100      190
072 T000100      697
072 U000100        0
072 V000100        0
<PAGE>      PAGE  10
072 W000100       38
072 X000100     5642
072 Y000100        0
072 Z000100    77770
072AA000100        0
072BB000100        0
072CC010100        0
072CC020100        0
072DD010100    65690
072DD020100    12080
072EE000100        0
073 A010100   0.0532
073 A020100   0.0522
073 B000100   0.0000
073 C000100   0.0000
074 A000100        0
074 B000100    75171
074 C000100  1599623
074 D000100        0
074 E000100        0
074 F000100        0
074 G000100        0
074 H000100        0
074 I000100    19920
074 J000100        0
074 K000100        0
074 L000100      488
074 M000100       58
074 N000100  1695260
074 O000100        0
074 P000100      339
074 Q000100        0
074 R010100        0
074 R020100        0
074 R030100        0
074 R040100     7420
074 S000100        0
074 T000100  1687501
074 U010100  1344419
074 U020100   343090
074 V010100     1.00
074 V020100     1.00
074 W000100   0.9999
074 X000100    40208
074 Y000100        0
075 A000100  1469372
075 B000100        0
076  000100     0.00
015 A000201 NATIONAL CITY BANK
015 B000201 C
015 C010201 CLEVELAND
<PAGE>      PAGE  11
015 C020201 OH
015 C030201 44135
015 E030201 X
024  000200 Y
025 A000201 PRUDENTIAL-BACHE
025 B000201 22-2347336
025 C000201 D
025 D000201   80000
025 A000202 SMITH BARNEY SHEARSON
025 B000202 13-1912900
025 C000202 D
025 D000202   45000
025 A000203 GOLDMAN SACHS
025 B000203 13-5108880
025 C000203 E
025 D000203    5736
025 D000204       0
025 D000205       0
025 D000206       0
025 D000207       0
025 D000208       0
028 A010200    270882
028 A020200       124
028 A030200         0
028 A040200    286697
028 B010200    225127
028 B020200       111
028 B030200         0
028 B040200    147951
028 C010200    246440
028 C020200       103
028 C030200         0
028 C040200    277768
028 D010200    178266
028 D020200       107
028 D030200         0
028 D040200    219967
028 E010200    294559
028 E020200       105
028 E030200         0
028 E040200    225858
028 F010200    458597
028 F020200       102
028 F030200         0
028 F040200    258186
028 G010200   1673871
028 G020200       652
028 G030200         0
028 G040200   1416427
028 H000200         0
029  000200 N
<PAGE>      PAGE  12
030 A000200      0
030 B000200  0.00
030 C000200  0.00
031 A000200      0
031 B000200      0
032  000200      0
033  000200      0
034  000200 N
035  000200      0
036 B000200      0
037  000200 N
038  000200      0
039  000200 N
040  000200 Y
041  000200 Y
042 A000200   0
042 B000200   0
042 C000200   0
042 D000200   0
042 E000200   0
042 F000200   0
042 G000200   0
042 H000200 100
043  000200    203
044  000200      0
045  000200 Y
046  000200 Y
047  000200 Y
048  000200  0.350
048 A010200        0
048 A020200 0.000
048 B010200        0
048 B020200 0.000
048 C010200        0
048 C020200 0.000
048 D010200        0
048 D020200 0.000
048 E010200        0
048 E020200 0.000
048 F010200        0
048 F020200 0.000
048 G010200        0
048 G020200 0.000
048 H010200        0
048 H020200 0.000
048 I010200        0
048 I020200 0.000
048 J010200        0
048 J020200 0.000
048 K010200        0
048 K020200 0.000
<PAGE>      PAGE  13
055 A000200 N
055 B000200 N
056  000200 Y
057  000200 N
058 A000200 N
059  000200 Y
060 A000200 Y
060 B000200 Y
061  000200        0
062 A000200 Y
062 B000200   0.0
062 C000200  85.1
062 D000200  14.2
062 E000200   0.0
062 F000200   0.0
062 G000200   0.0
062 H000200   0.0
062 I000200   0.0
062 J000200   0.0
062 K000200   0.0
062 L000200   0.0
062 M000200   0.0
062 N000200   0.0
062 O000200   0.0
062 P000200   0.0
062 Q000200   0.0
062 R000200   0.7
063 A000200  49
063 B000200  0.0
064 A000200 N
064 B000200 N
066 A000200 N
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
<PAGE>      PAGE  14
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 Y
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200         0
071 B000200         0
071 C000200         0
071 D000200    0
072 A000200 12
072 B000200    37222
072 C000200        0
072 D000200        0
072 E000200        0
072 F000200     1655
072 G000200      187
072 H000200        0
072 I000200       71
072 J000200       20
072 K000200        0
072 L000200       11
072 M000200       22
072 N000200       11
072 O000200        0
072 P000200        0
072 Q000200        0
072 R000200       23
072 S000200       79
072 T000200      312
072 U000200        0
072 V000200        0
072 W000200       30
072 X000200     2421
072 Y000200        0
072 Z000200    34801
<PAGE>      PAGE  15
072AA000200        1
072BB000200        0
072CC010200        0
072CC020200        0
072DD010200    33725
072DD020200     1076
072EE000200        0
073 A010200   0.0528
073 A020200   0.0518
073 B000200   0.0000
073 C000200   0.0000
074 A000200        0
074 B000200   125000
074 C000200   745709
074 D000200        0
074 E000200        0
074 F000200        0
074 G000200        0
074 H000200        0
074 I000200     5736
074 J000200        0
074 K000200        0
074 L000200      313
074 M000200        9
074 N000200   876767
074 O000200        0
074 P000200      160
074 Q000200        0
074 R010200        0
074 R020200        0
074 R030200        0
074 R040200     3519
074 S000200        0
074 T000200   873088
074 U010200   741895
074 U020200   131194
074 V010200     1.00
074 V020200     1.00
074 W000200   0.9998
074 X000200     3312
074 Y000200        0
075 A000200   659485
075 B000200        0
076  000200     0.00
015 A000301 NATIONAL CITY BANK
015 B000301 C
015 C010301 CLEVELAND
015 C020301 OH
015 C030301 44135
015 E030301 X
024  000300 Y
<PAGE>      PAGE  16
025 A000301 GOLDMAN SACHS
025 B000301 13-5108880
025 C000301 E
025 D000301   14222
025 D000302       0
025 D000303       0
025 D000304       0
025 D000305       0
025 D000306       0
025 D000307       0
025 D000308       0
028 A010300    146929
028 A020300         4
028 A030300         0
028 A040300     83884
028 B010300    107980
028 B020300         5
028 B030300         0
028 B040300     81992
028 C010300    121638
028 C020300         8
028 C030300         0
028 C040300    158737
028 D010300     73454
028 D020300         7
028 D030300         0
028 D040300     56042
028 E010300     99605
028 E020300         7
028 E030300         0
028 E040300     65860
028 F010300    108948
028 F020300         5
028 F030300         0
028 F040300     84204
028 G010300    658554
028 G020300        36
028 G030300         0
028 G040300    530719
028 H000300         0
029  000300 N
030 A000300      0
030 B000300  0.00
030 C000300  0.00
031 A000300      0
031 B000300      0
032  000300      0
033  000300      0
034  000300 N
035  000300      0
036 B000300      0
<PAGE>      PAGE  17
037  000300 N
038  000300      0
039  000300 N
040  000300 Y
041  000300 Y
042 A000300   0
042 B000300   0
042 C000300   0
042 D000300   0
042 E000300   0
042 F000300   0
042 G000300   0
042 H000300 100
043  000300     57
044  000300      0
045  000300 Y
046  000300 Y
047  000300 Y
048  000300  0.300
048 A010300        0
048 A020300 0.000
048 B010300        0
048 B020300 0.000
048 C010300        0
048 C020300 0.000
048 D010300        0
048 D020300 0.000
048 E010300        0
048 E020300 0.000
048 F010300        0
048 F020300 0.000
048 G010300        0
048 G020300 0.000
048 H010300        0
048 H020300 0.000
048 I010300        0
048 I020300 0.000
048 J010300        0
048 J020300 0.000
048 K010300        0
048 K020300 0.000
055 A000300 N
055 B000300 N
056  000300 Y
057  000300 N
058 A000300 N
059  000300 Y
060 A000300 Y
060 B000300 Y
061  000300        0
062 A000300 Y
<PAGE>      PAGE  18
062 B000300  91.2
062 C000300   0.0
062 D000300   0.0
062 E000300   0.0
062 F000300   0.0
062 G000300   0.0
062 H000300   0.0
062 I000300   0.0
062 J000300   0.0
062 K000300   0.0
062 L000300   0.0
062 M000300   0.0
062 N000300   0.0
062 O000300   0.0
062 P000300   0.0
062 Q000300   0.0
062 R000300   8.8
063 A000300  45
063 B000300  0.0
064 A000300 N
064 B000300 N
066 A000300 N
067  000300 N
068 A000300 N
068 B000300 N
069  000300 N
070 A010300 N
070 A020300 N
070 B010300 N
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 Y
070 L010300 N
070 L020300 N
070 M010300 N
<PAGE>      PAGE  19
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
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<PAGE>      PAGE  20
073 C000300   0.0000
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015 A000401 NATIONAL CITY BANK
015 B000401 C
015 C010401 CLEVELAND
015 C020401 OH
015 C030401 44135
015 E030401 X
024  000400 Y
025 A000401 GOLDMAN SACHS
025 B000401 13-5108880
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025 B000402 04-2653569
025 C000402 E
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<PAGE>      PAGE  21
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031 A000400      0
031 B000400      0
032  000400      0
033  000400      0
034  000400 N
035  000400      0
036 B000400      0
037  000400 N
038  000400      0
039  000400 N
040  000400 Y
041  000400 Y
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042 B000400   0
<PAGE>      PAGE  22
042 C000400   0
042 D000400   0
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043  000400     96
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045  000400 Y
046  000400 Y
047  000400 Y
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048 J020400 0.000
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048 K020400 0.000
055 A000400 N
055 B000400 N
056  000400 Y
057  000400 N
058 A000400 N
059  000400 Y
060 A000400 Y
060 B000400 Y
061  000400        0
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<PAGE>      PAGE  23
062 I000400   0.0
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062 P000400   0.0
062 Q000400   0.0
062 R000400   2.2
063 A000400  31
063 B000400  0.0
064 A000400 Y
064 B000400 N
066 A000400 N
067  000400 N
068 A000400 N
068 B000400 N
069  000400 N
070 A010400 N
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 Y
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 N
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
<PAGE>      PAGE  24
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
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<PAGE>      PAGE  25
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074 W000400   0.9999
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075 A000400   295458
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015 A000801 NATIONAL CITY BANK
015 B000801 C
015 C010801 CLEVELAND
015 C020801 OH
015 C030801 44135
015 E030801 X
024  000800 Y
025 A000801 STATE STREET BOSTON CORP.
025 B000801 04-1867445
025 C000801 E
025 D000801    1877
025 A000802 FIDELITY
025 B000802 04-2653569
025 C000802 E
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<PAGE>      PAGE  26
028 A040800      3140
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033  000800      0
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036 B000800      0
037  000800 N
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039  000800 N
040  000800 Y
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<PAGE>      PAGE  27
044  000800      0
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046  000800 Y
047  000800 Y
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055 A000800 N
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056  000800 Y
057  000800 N
058 A000800 N
059  000800 Y
060 A000800 Y
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<PAGE>      PAGE  28
062 P000800   0.0
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066 C000800 N
066 D000800 N
066 E000800 N
066 F000800 N
066 G000800 Y
067  000800 N
068 A000800 N
068 B000800 N
069  000800 N
070 A010800 Y
070 A020800 N
070 B010800 N
070 B020800 N
070 C010800 N
070 C020800 N
070 D010800 N
070 D020800 N
070 E010800 N
070 E020800 N
070 F010800 N
070 F020800 N
070 G010800 N
070 G020800 N
070 H010800 N
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 Y
070 J020800 N
070 K010800 Y
070 K020800 Y
070 L010800 Y
070 L020800 Y
070 M010800 N
070 M020800 N
070 N010800 Y
070 N020800 N
070 O010800 Y
070 O020800 N
070 P010800 Y
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 N
<PAGE>      PAGE  29
070 R020800 N
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<PAGE>      PAGE  30
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015 A000901 NATIONAL CITY BANK
015 B000901 C
015 C010901 CLEVELAND
015 C020901 OH
015 C030901 44135
015 E030901 X
024  000900 Y
025 A000901 FIDELITY
025 B000901 04-2653569
025 C000901 E
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<PAGE>      PAGE  31
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035  000900      0
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039  000900 N
040  000900 Y
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047  000900 Y
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<PAGE>      PAGE  32
048 A020900 0.000
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055 A000900 N
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056  000900 Y
057  000900 N
058 A000900 N
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060 A000900 Y
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062 M000900  39.2
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062 R000900   2.8
063 A000900   0
063 B000900  4.2
064 A000900 N
<PAGE>      PAGE  33
064 B000900 N
066 A000900 N
067  000900 N
068 A000900 N
068 B000900 N
069  000900 N
070 A010900 Y
070 A020900 N
070 B010900 N
070 B020900 N
070 C010900 N
070 C020900 N
070 D010900 N
070 D020900 N
070 E010900 N
070 E020900 N
070 F010900 N
070 F020900 N
070 G010900 N
070 G020900 N
070 H010900 N
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
070 K020900 Y
070 L010900 Y
070 L020900 Y
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070 M020900 N
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070 N020900 N
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070 O020900 N
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070 Q020900 N
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070 R020900 N
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<PAGE>      PAGE  34
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<PAGE>      PAGE  35
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015 A001001 NATIONAL CITY BANK
015 B001001 C
015 C011001 CLEVELAND
015 C021001 OH
015 C031001 44135
015 E031001 X
024  001000 N
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<PAGE>      PAGE  36
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<PAGE>      PAGE  37
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057  001000 N
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063 B001000  7.2
064 A001000 N
064 B001000 N
066 A001000 N
067  001000 N
068 A001000 N
068 B001000 N
069  001000 N
070 A011000 Y
070 A021000 N
070 B011000 N
070 B021000 N
070 C011000 N
070 C021000 N
070 D011000 N
<PAGE>      PAGE  38
070 D021000 N
070 E011000 N
070 E021000 N
070 F011000 N
070 F021000 N
070 G011000 N
070 G021000 N
070 H011000 N
070 H021000 N
070 I011000 N
070 I021000 N
070 J011000 Y
070 J021000 N
070 K011000 Y
070 K021000 Y
070 L011000 N
070 L021000 N
070 M011000 N
070 M021000 N
070 N011000 Y
070 N021000 N
070 O011000 Y
070 O021000 N
070 P011000 Y
070 P021000 N
070 Q011000 N
070 Q021000 N
070 R011000 N
070 R021000 N
071 A001000     20982
071 B001000      7613
071 C001000     77545
071 D001000   10
072 A001000 12
072 B001000     3998
072 C001000        0
072 D001000        0
072 E001000        0
072 F001000        0
072 G001000       82
072 H001000        0
072 I001000       24
072 J001000        4
072 K001000        0
072 L001000       14
072 M001000        2
072 N001000        6
072 O001000        0
072 P001000        0
072 Q001000        0
072 R001000        3
<PAGE>      PAGE  39
072 S001000       10
072 T001000       38
072 U001000        0
072 V001000        0
072 W001000       28
072 X001000      211
072 Y001000        0
072 Z001000     3787
072AA001000      120
072BB001000       37
072CC011000        0
072CC021000      648
072DD011000     3637
072DD021000      150
072EE001000        0
073 A011000   0.5048
073 A021000   0.5027
073 B001000   0.0000
073 C001000   0.0000
074 A001000        0
074 B001000        0
074 C001000        0
074 D001000    83955
074 E001000        0
074 F001000        0
074 G001000        0
074 H001000        0
074 I001000      575
074 J001000        0
074 K001000        0
074 L001000     1589
074 M001000        2
074 N001000    86121
074 O001000        0
074 P001000        0
074 Q001000        0
074 R011000        0
074 R021000        0
074 R031000        0
074 R041000      366
074 S001000        0
074 T001000    85755
074 U011000     7750
074 U021000      269
074 V011000    10.70
074 V021000    10.66
074 W001000   0.0000
074 X001000      914
074 Y001000        0
075 A001000        0
075 B001000    80567
<PAGE>      PAGE  40
076  001000     0.00
015 A001101 NATIONAL CITY BANK
015 B001101 C
015 C011101 CLEVELAND
015 C021101 OH
015 C031101 44135
015 E031101 X
015 A001102 BANK OF CALIFORNIA, NA
015 B001102 S
015 C011102 SAN FRANCISCO
015 C021102 CA
015 C031102 94111
015 E041102 X
024  001100 Y
025 A001101 BANC ONE CORP.
025 B001101 31-4148768
025 C001101 E
025 D001101     611
025 A001102 J.P. MORGAN
025 B001102 13-3224016
025 C001102 E
025 D001102     886
025 A001103 FIDELITY
025 B001103 04-2653569
025 C001103 E
025 D001103    1826
025 D001104       0
025 D001105       0
025 D001106       0
025 D001107       0
025 D001108       0
028 A011100      1038
028 A021100         0
028 A031100         0
028 A041100        73
028 B011100      3565
028 B021100       502
028 B031100         0
028 B041100       579
028 C011100      2399
028 C021100         0
028 C031100         0
028 C041100       469
028 D011100      1600
028 D021100         0
028 D031100         0
028 D041100       192
028 E011100      1889
028 E021100       200
028 E031100         0
028 E041100       606
<PAGE>      PAGE  41
028 F011100      1306
028 F021100         0
028 F031100         0
028 F041100       233
028 G011100     11797
028 G021100       702
028 G031100         0
028 G041100      2152
028 H001100        44
029  001100 Y
030 A001100      2
030 B001100  3.75
030 C001100  0.00
031 A001100      2
031 B001100      0
032  001100      0
033  001100      0
034  001100 N
035  001100      0
036 B001100      0
037  001100 N
038  001100      0
039  001100 N
040  001100 Y
041  001100 Y
042 A001100   0
042 B001100   0
042 C001100   0
042 D001100   0
042 E001100   0
042 F001100   0
042 G001100   0
042 H001100 100
043  001100     16
044  001100      0
045  001100 Y
046  001100 Y
047  001100 Y
048  001100  0.750
048 A011100        0
048 A021100 0.000
048 B011100        0
048 B021100 0.000
048 C011100        0
048 C021100 0.000
048 D011100        0
048 D021100 0.000
048 E011100        0
048 E021100 0.000
048 F011100        0
048 F021100 0.000
<PAGE>      PAGE  42
048 G011100        0
048 G021100 0.000
048 H011100        0
048 H021100 0.000
048 I011100        0
048 I021100 0.000
048 J011100        0
048 J021100 0.000
048 K011100        0
048 K021100 0.000
055 A001100 N
055 B001100 N
056  001100 Y
057  001100 N
058 A001100 N
059  001100 Y
060 A001100 Y
060 B001100 Y
061  001100        0
062 A001100 N
062 B001100   0.0
062 C001100   0.0
062 D001100   0.0
062 E001100   0.0
062 F001100   0.0
062 G001100   0.0
062 H001100   0.0
062 I001100   0.0
062 J001100   0.0
062 K001100   0.0
062 L001100   0.0
062 M001100   0.0
062 N001100   0.0
062 O001100   0.0
062 P001100   0.0
062 Q001100   0.0
062 R001100   0.0
063 A001100   0
063 B001100  0.0
066 A001100 Y
066 B001100 N
066 C001100 N
066 D001100 N
066 E001100 N
066 F001100 N
066 G001100 Y
067  001100 Y
068 A001100 N
068 B001100 N
069  001100 N
070 A011100 Y
<PAGE>      PAGE  43
070 A021100 N
070 B011100 N
070 B021100 N
070 C011100 N
070 C021100 N
070 D011100 N
070 D021100 N
070 E011100 N
070 E021100 N
070 F011100 N
070 F021100 N
070 G011100 N
070 G021100 N
070 H011100 N
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 Y
070 J021100 N
070 K011100 Y
070 K021100 Y
070 L011100 Y
070 L021100 Y
070 M011100 Y
070 M021100 N
070 N011100 Y
070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 Y
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100     42844
071 B001100     25316
071 C001100     47967
071 D001100   53
072 A001100 12
072 B001100      132
072 C001100     1885
072 D001100        0
072 E001100        0
072 F001100      371
072 G001100       50
072 H001100        0
072 I001100       49
072 I001100        3
072 I001100        0
072 J001100        4
<PAGE>      PAGE  44
072 J001100        1
072 J001100       13
072 K001100        0
072 K001100        0
072 K001100        0
072 L001100        1
072 L001100        6
072 L001100       23
072 M001100        4
072 M001100        0
072 M001100        2
072 N001100      527
072 N001100        9
072 N001100        0
072 O001100        0
072 O001100        0
072 O001100        0
072 P001100        0
072 P001100        0
072 P001100        0
072 Q001100        0
072 Q001100        0
072 Q001100        0
072 R001100        1
072 R001100        1
072 R001100        0
072 S001100        3
072 S001100        3
072 S001100        0
072 T001100       10
072 T001100       10
072 T001100        0
072 U001100        2
072 U001100        2
072 U001100        0
072 V001100        0
072 V001100        0
072 V001100        0
072 W001100        2
072 W001100        2
072 W001100        0
072 X001100      230
072 X001100      230
072 X001100        0
072 Y001100        0
072 Z001100     1490
072AA001100     3528
072BB001100      521
072CC011100     4208
072CC021100        0
072DD011100     1376
<PAGE>      PAGE  45
072DD021100        5
072EE001100      572
073 A011100   0.3424
073 A021100   0.3158
073 B001100   0.1388
073 C001100   0.0000
074 A001100        0
074 B001100        0
074 C001100        0
074 D001100      457
074 E001100        0
074 F001100    59693
074 G001100        0
074 H001100        0
074 I001100     1826
074 J001100        0
074 K001100        0
074 L001100      328
074 M001100       17
074 N001100    62321
074 O001100        0
074 P001100       39
074 Q001100        0
074 R011100        0
074 R021100        0
074 R031100        0
074 R041100       41
074 S001100        0
074 T001100    62241
074 U011100     4895
074 U021100       21
074 V011100    12.66
074 V021100    12.65
074 W001100   0.0000
074 X001100     1465
074 Y001100        0
075 A001100        0
075 B001100    49283
076  001100     0.00
015 A001201 NATIONAL CITY BANK
015 B001201 C
015 C011201 CLEVELAND
015 C021201 OH
015 C031201 44135
015 E031201 X
024  001200 Y
025 A001201 FIDELITY
025 B001201 04-2653569
025 C001201 E
025 D001201    3424
025 D001202       0
<PAGE>      PAGE  46
025 D001203       0
025 D001204       0
025 D001205       0
025 D001206       0
025 D001207       0
025 D001208       0
028 A011200      2395
028 A021200         0
028 A031200         0
028 A041200       577
028 B011200      5776
028 B021200      2232
028 B031200         0
028 B041200      1779
028 C011200      1682
028 C021200         0
028 C031200         0
028 C041200       819
028 D011200      2138
028 D021200         0
028 D031200         0
028 D041200       764
028 E011200      7753
028 E021200         0
028 E031200         0
028 E041200      1003
028 F011200      6034
028 F021200         0
028 F031200         0
028 F041200       825
028 G011200     25778
028 G021200      2232
028 G031200         0
028 G041200      5767
028 H001200        95
029  001200 Y
030 A001200      4
030 B001200  3.75
030 C001200  0.00
031 A001200      4
031 B001200      0
032  001200      0
033  001200      0
034  001200 N
035  001200      0
036 B001200      0
037  001200 N
038  001200      0
039  001200 N
040  001200 Y
041  001200 Y
<PAGE>      PAGE  47
042 A001200   0
042 B001200   0
042 C001200   0
042 D001200   0
042 E001200   0
042 F001200   0
042 G001200   0
042 H001200 100
043  001200     32
044  001200      0
045  001200 Y
046  001200 Y
047  001200 Y
048  001200  0.750
048 A011200        0
048 A021200 0.000
048 B011200        0
048 B021200 0.000
048 C011200        0
048 C021200 0.000
048 D011200        0
048 D021200 0.000
048 E011200        0
048 E021200 0.000
048 F011200        0
048 F021200 0.000
048 G011200        0
048 G021200 0.000
048 H011200        0
048 H021200 0.000
048 I011200        0
048 I021200 0.000
048 J011200        0
048 J021200 0.000
048 K011200        0
048 K021200 0.000
055 A001200 N
055 B001200 N
056  001200 Y
057  001200 N
058 A001200 N
059  001200 Y
060 A001200 Y
060 B001200 Y
061  001200        0
062 A001200 N
062 B001200   0.0
062 C001200   0.0
062 D001200   0.0
062 E001200   0.0
062 F001200   0.0
<PAGE>      PAGE  48
062 G001200   0.0
062 H001200   0.0
062 I001200   0.0
062 J001200   0.0
062 K001200   0.0
062 L001200   0.0
062 M001200   0.0
062 N001200   0.0
062 O001200   0.0
062 P001200   0.0
062 Q001200   0.0
062 R001200   0.0
063 A001200   0
063 B001200  0.0
066 A001200 Y
066 B001200 N
066 C001200 Y
066 D001200 N
066 E001200 N
066 F001200 N
066 G001200 N
067  001200 N
068 A001200 N
068 B001200 N
069  001200 N
070 A011200 Y
070 A021200 N
070 B011200 Y
070 B021200 N
070 C011200 Y
070 C021200 N
070 D011200 Y
070 D021200 N
070 E011200 N
070 E021200 N
070 F011200 Y
070 F021200 N
070 G011200 Y
070 G021200 N
070 H011200 Y
070 H021200 N
070 I011200 N
070 I021200 N
070 J011200 Y
070 J021200 N
070 K011200 Y
070 K021200 Y
070 L011200 Y
070 L021200 N
070 M011200 N
070 M021200 N
<PAGE>      PAGE  49
070 N011200 Y
070 N021200 N
070 O011200 Y
070 O021200 N
070 P011200 Y
070 P021200 N
070 Q011200 N
070 Q021200 N
070 R011200 N
070 R021200 N
071 A001200    110532
071 B001200     77648
071 C001200     73237
071 D001200  106
072 A001200 12
072 B001200        0
072 C001200     1439
072 D001200        0
072 E001200        0
072 F001200      572
072 G001200       76
072 H001200        0
072 I001200       46
072 J001200        5
072 K001200        0
072 L001200       12
072 M001200        1
072 N001200       18
072 O001200        0
072 P001200        0
072 Q001200        0
072 R001200        3
072 S001200        9
072 T001200       62
072 U001200        4
072 V001200        0
072 W001200        7
072 X001200      815
072 Y001200        0
072 Z001200      624
072AA001200    11210
072BB001200     4264
072CC011200     8582
072CC021200        0
072DD011200      600
072DD021200       30
072EE001200     4191
073 A011200   0.1027
073 A021200   0.0781
073 B001200   0.6737
073 C001200   0.0000
<PAGE>      PAGE  50
074 A001200        0
074 B001200        0
074 C001200        0
074 D001200        0
074 E001200        0
074 F001200    99788
074 G001200        0
074 H001200        0
074 I001200     3424
074 J001200     1097
074 K001200        0
074 L001200      246
074 M001200       16
074 N001200   104571
074 O001200      200
074 P001200       64
074 Q001200        0
074 R011200        0
074 R021200        0
074 R031200        0
074 R041200      311
074 S001200        0
074 T001200   103996
074 U011200     7579
074 U021200      363
074 V011200    13.10
074 V021200    12.94
074 W001200   0.0000
074 X001200     1883
074 Y001200        0
075 A001200        0
075 B001200    76013
076  001200     0.00
015 A001301 NATIONAL CITY BANK
015 B001301 C
015 C011301 CLEVELAND
015 C021301 OH
015 C031301 44135
015 E031301 X
015 A001302 BANK OF CALIFORNIA, NA
015 B001302 S
015 C011302 SAN FRANCISCO
015 C021302 CA
015 C031302 94111
015 E041302 X
024  001300 Y
025 A001301 MERRILL LYNCH
025 B001301 13-5674085
025 C001301 D
025 D001301    1852
025 A001302 PRUDENTIAL-BACHE
<PAGE>      PAGE  51
025 B001302 22-2347336
025 C001302 D
025 D001302     266
025 A001303 CHASE MANHATTAN
025 B001303 13-3538956
025 C001303 D
025 D001303    2075
025 A001304 FIDELITY
025 B001304 04-2653569
025 C001304 E
025 D001304    1137
025 D001305       0
025 D001306       0
025 D001307       0
025 D001308       0
028 A011300      6154
028 A021300         0
028 A031300         0
028 A041300      4383
028 B011300      6558
028 B021300       207
028 B031300         0
028 B041300      5095
028 C011300      5669
028 C021300       201
028 C031300         0
028 C041300      7030
028 D011300      3174
028 D021300       193
028 D031300         0
028 D041300      3177
028 E011300      1350
028 E021300       190
028 E031300         0
028 E041300      5235
028 F011300      9857
028 F021300       338
028 F031300         0
028 F041300      4053
028 G011300     32762
028 G021300      1129
028 G031300         0
028 G041300     28973
028 H001300       410
029  001300 Y
030 A001300      4
030 B001300  2.75
030 C001300  0.00
031 A001300      4
031 B001300      0
032  001300      0
<PAGE>      PAGE  52
033  001300      0
034  001300 N
035  001300      0
036 B001300      0
037  001300 N
038  001300      0
039  001300 N
040  001300 Y
041  001300 Y
042 A001300   0
042 B001300   0
042 C001300   0
042 D001300   0
042 E001300   0
042 F001300   0
042 G001300   0
042 H001300 100
043  001300      2
044  001300      0
045  001300 Y
046  001300 N
047  001300 Y
048  001300  0.450
048 A011300        0
048 A021300 0.000
048 B011300        0
048 B021300 0.000
048 C011300        0
048 C021300 0.000
048 D011300        0
048 D021300 0.000
048 E011300        0
048 E021300 0.000
048 F011300        0
048 F021300 0.000
048 G011300        0
048 G021300 0.000
048 H011300        0
048 H021300 0.000
048 I011300        0
048 I021300 0.000
048 J011300        0
048 J021300 0.000
048 K011300        0
048 K021300 0.000
055 A001300 N
055 B001300 N
056  001300 Y
057  001300 N
058 A001300 N
059  001300 Y
<PAGE>      PAGE  53
060 A001300 Y
060 B001300 Y
061  001300        0
062 A001300 Y
062 B001300   0.0
062 C001300  34.3
062 D001300   0.0
062 E001300   0.0
062 F001300   0.0
062 G001300   0.0
062 H001300   0.0
062 I001300   0.0
062 J001300   0.0
062 K001300   0.0
062 L001300   0.5
062 M001300  22.6
062 N001300   0.0
062 O001300   0.0
062 P001300   3.2
062 Q001300  37.7
062 R001300   1.7
063 A001300   0
063 B001300  1.9
064 A001300 N
064 B001300 N
066 A001300 N
067  001300 N
068 A001300 N
068 B001300 N
069  001300 N
070 A011300 Y
070 A021300 N
070 B011300 N
070 B021300 N
070 C011300 Y
070 C021300 N
070 D011300 N
070 D021300 N
070 E011300 Y
070 E021300 N
070 F011300 N
070 F021300 N
070 G011300 Y
070 G021300 N
070 H011300 N
070 H021300 N
070 I011300 N
070 I021300 N
070 J011300 Y
070 J021300 N
070 K011300 Y
<PAGE>      PAGE  54
070 K021300 Y
070 L011300 Y
070 L021300 Y
070 M011300 Y
070 M021300 N
070 N011300 Y
070 N021300 N
070 O011300 Y
070 O021300 N
070 P011300 Y
070 P021300 N
070 Q011300 N
070 Q021300 N
070 R011300 N
070 R021300 N
071 A001300     45817
071 B001300     32160
071 C001300     32837
071 D001300   98
072 A001300 12
072 B001300     3944
072 C001300        0
072 D001300        0
072 E001300        0
072 F001300        0
072 G001300       66
072 H001300        0
072 I001300       39
072 J001300        3
072 K001300        0
072 L001300        8
072 M001300        3
072 N001300        2
072 O001300        0
072 P001300        0
072 Q001300        0
072 R001300        3
072 S001300       13
072 T001300        8
072 U001300        7
072 V001300        0
072 W001300        5
072 X001300      157
072 Y001300        0
072 Z001300     3787
072AA001300      320
072BB001300       17
072CC011300        0
072CC021300      648
072DD011300     4177
072DD021300      200
<PAGE>      PAGE  55
072EE001300        0
073 A011300   0.6769
073 A021300   0.6663
073 B001300   0.0000
073 C001300   0.0000
074 A001300        0
074 B001300        0
074 C001300    23430
074 D001300    43799
074 E001300        0
074 F001300        0
074 G001300        0
074 H001300        0
074 I001300     1137
074 J001300        0
074 K001300        0
074 L001300      415
074 M001300       18
074 N001300    68799
074 O001300        0
074 P001300        0
074 Q001300        0
074 R011300        0
074 R021300        0
074 R031300        0
074 R041300      163
074 S001300        0
074 T001300    68636
074 U011300     6688
074 U021300      171
074 V011300    10.01
074 V021300    10.02
074 W001300   0.0000
074 X001300      243
074 Y001300        0
075 A001300        0
075 B001300    66155
076  001300     0.00
015 A001401 NATIONAL CITY BANK
015 B001401 C
015 C011401 CLEVELAND
015 C021401 OH
015 C031401 44135
015 E031401 X
015 A001402 BANK OF CALIFORNIA, NA
015 B001402 S
015 C011402 SAN FRANCISCO
015 C021402 CA
015 C031402 94111
015 E041402 X
024  001400 Y
<PAGE>      PAGE  56
025 A001401 SALOMON BROTHERS
025 B001401 13-3082694
025 C001401 D
025 D001401     264
025 A001402 FIDELITY
025 B001402 04-2653569
025 C001402 E
025 D001402    4751
025 D001403       0
025 D001404       0
025 D001405       0
025 D001406       0
025 D001407       0
025 D001408       0
028 A011400      6109
028 A021400         0
028 A031400         0
028 A041400     12314
028 B011400     10013
028 B021400      6380
028 B031400         0
028 B041400      2626
028 C011400      7513
028 C021400       878
028 C031400         0
028 C041400      1441
028 D011400      8639
028 D021400       846
028 D031400         0
028 D041400      2067
028 E011400      7315
028 E021400       885
028 E031400         0
028 E041400      4109
028 F011400      1538
028 F021400      1764
028 F031400         0
028 F041400      9805
028 G011400     41127
028 G021400     10753
028 G031400         0
028 G041400     32362
028 H001400         0
029  001400 Y
030 A001400      0
030 B001400  3.75
030 C001400  0.00
031 A001400      0
031 B001400      0
032  001400      0
033  001400      0
<PAGE>      PAGE  57
034  001400 N
035  001400      0
036 B001400      0
037  001400 N
038  001400      0
039  001400 N
040  001400 Y
041  001400 Y
042 A001400   0
042 B001400   0
042 C001400   0
042 D001400   0
042 E001400   0
042 F001400   0
042 G001400   0
042 H001400 100
043  001400     10
044  001400      0
045  001400 Y
046  001400 N
047  001400 Y
048  001400  0.550
048 A011400        0
048 A021400 0.000
048 B011400        0
048 B021400 0.000
048 C011400        0
048 C021400 0.000
048 D011400        0
048 D021400 0.000
048 E011400        0
048 E021400 0.000
048 F011400        0
048 F021400 0.000
048 G011400        0
048 G021400 0.000
048 H011400        0
048 H021400 0.000
048 I011400        0
048 I021400 0.000
048 J011400        0
048 J021400 0.000
048 K011400        0
048 K021400 0.000
055 A001400 N
055 B001400 N
056  001400 Y
057  001400 N
058 A001400 N
059  001400 Y
060 A001400 Y
<PAGE>      PAGE  58
060 B001400 Y
061  001400        0
062 A001400 Y
062 B001400   0.0
062 C001400   0.0
062 D001400   0.0
062 E001400   0.0
062 F001400   0.0
062 G001400   0.0
062 H001400   0.0
062 I001400   0.0
062 J001400   0.0
062 K001400   0.0
062 L001400   0.0
062 M001400  31.9
062 N001400   1.4
062 O001400   0.0
062 P001400  27.3
062 Q001400  37.7
062 R001400   1.7
063 A001400   0
063 B001400 10.8
064 A001400 N
064 B001400 N
066 A001400 N
067  001400 N
068 A001400 N
068 B001400 N
069  001400 N
070 A011400 Y
070 A021400 N
070 B011400 N
070 B021400 N
070 C011400 Y
070 C021400 N
070 D011400 N
070 D021400 N
070 E011400 Y
070 E021400 N
070 F011400 N
070 F021400 N
070 G011400 Y
070 G021400 N
070 H011400 N
070 H021400 N
070 I011400 N
070 I021400 N
070 J011400 Y
070 J021400 N
070 K011400 Y
070 K021400 Y
<PAGE>      PAGE  59
070 L011400 Y
070 L021400 Y
070 M011400 Y
070 M021400 N
070 N011400 Y
070 N021400 N
070 O011400 Y
070 O021400 N
070 P011400 Y
070 P021400 N
070 Q011400 N
070 Q021400 N
070 R011400 N
070 R021400 N
071 A001400    751455
071 B001400    711437
071 C001400    265718
071 D001400  268
072 A001400 12
072 B001400    18936
072 C001400      186
072 D001400        0
072 E001400        0
072 F001400        0
072 G001400      261
072 H001400        0
072 I001400       14
072 J001400       10
072 K001400        0
072 L001400        8
072 M001400        9
072 N001400        7
072 O001400        0
072 P001400        0
072 Q001400        0
072 R001400        7
072 S001400       27
072 T001400       22
072 U001400        4
072 V001400        0
072 W001400        9
072 X001400      378
072 Y001400        0
072 Z001400    18744
072AA001400    16910
072BB001400     4090
072CC011400        0
072CC021400    20509
072DD011400    21710
072DD021400       50
072EE001400     8344
<PAGE>      PAGE  60
073 A011400   0.8137
073 A021400   0.7645
073 B001400   0.3096
073 C001400   0.0000
074 A001400        0
074 B001400        0
074 C001400     2133
074 D001400   273744
074 E001400        0
074 F001400        0
074 G001400        0
074 H001400        0
074 I001400     4751
074 J001400     4414
074 K001400        0
074 L001400     2729
074 M001400       19
074 N001400   287790
074 O001400     4506
074 P001400        0
074 Q001400        0
074 R011400        0
074 R021400        0
074 R031400        0
074 R041400      843
074 S001400        0
074 T001400   282441
074 U011400    28393
074 U021400      207
074 V011400     9.88
074 V021400     9.87
074 W001400   0.0000
074 X001400      671
074 Y001400        0
075 A001400        0
075 B001400   280243
076  001400     0.00
SIGNATURE   WENDY MCGEE                                  
TITLE       LEGAL ASSISTANT     
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 011
   <NAME> ARMADA MONEY MARKET FUND - INSTITUTIONAL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
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<INVESTMENTS-AT-VALUE>                      1694714096
<RECEIVABLES>                                   487632
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<EXPENSE-RATIO>                                    .37
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 012
   <NAME> ARMADA MONEY MARKET FUND - RETAIL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                       1694714096
<INVESTMENTS-AT-VALUE>                      1694714096
<RECEIVABLES>                                   487632
<ASSETS-OTHER>                                   58086
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<SHARES-COMMON-STOCK>                        343090403
<SHARES-COMMON-PRIOR>                        175196275
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<ACCUMULATED-NET-GAINS>                         (8314)
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 021
   <NAME> ARMADA GOVERNMENT FUND - INSTITUTIONAL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
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<INVESTMENTS-AT-VALUE>                       876444932
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 022
   <NAME> ARMADA GOVERNMENT FUND - RETAIL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 031
   <NAME> ARMADA TREASURY FUND - INSTITUTIONAL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 032
   <NAME> ARMADA TREASURY FUND - RETAIL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 041
   <NAME> ARMADA TAX EXEMPT FUND - INSTITUTIONAL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
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<INVESTMENTS-AT-VALUE>                       347838562
<RECEIVABLES>                                  1972014
<ASSETS-OTHER>                                    5162
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<EXPENSE-RATIO>                                    .30
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 042
   <NAME> ARMADA TAX EXEMPT FUND - RETAIL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                        347838562
<INVESTMENTS-AT-VALUE>                       347838562
<RECEIVABLES>                                  1972014
<ASSETS-OTHER>                                    5162
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<TOTAL-ASSETS>                               349815738
<PAYABLE-FOR-SECURITIES>                       1002220
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<PAID-IN-CAPITAL-COMMON>                     347737777
<SHARES-COMMON-STOCK>                         85928082
<SHARES-COMMON-PRIOR>                         51915790
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<ACCUMULATED-NET-GAINS>                         (1459)
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<DIVIDEND-INCOME>                                    0
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<EXPENSES-NET>                                  954151
<NET-INVESTMENT-INCOME>                        9807133
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      2100109
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<NUMBER-OF-SHARES-REDEEMED>                  209162836
<SHARES-REINVESTED>                            2069874
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<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                   .032
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<PER-SHARE-DISTRIBUTIONS>                            0
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<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .40
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 081
   <NAME> ARMADA EQUITY FUND - INSTITUTIONAL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                        135610027
<INVESTMENTS-AT-VALUE>                       172572009
<RECEIVABLES>                                   322004
<ASSETS-OTHER>                                    3965
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               172897978
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       214614
<TOTAL-LIABILITIES>                             214614
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     119624085
<SHARES-COMMON-STOCK>                          9249651
<SHARES-COMMON-PRIOR>                          8102342
<ACCUMULATED-NII-CURRENT>                       189107
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       15908190
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      36961982
<NET-ASSETS>                                 166670841
<DIVIDEND-INCOME>                              2519734
<INTEREST-INCOME>                               248280
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<NET-INVESTMENT-INCOME>                        1249081
<REALIZED-GAINS-CURRENT>                      18678577
<APPREC-INCREASE-CURRENT>                     12169917
<NET-CHANGE-FROM-OPS>                         32097575
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<DISTRIBUTIONS-OF-GAINS>                       1622108
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<NUMBER-OF-SHARES-SOLD>                        2422785
<NUMBER-OF-SHARES-REDEEMED>                    1360891
<SHARES-REINVESTED>                              85415
<NET-CHANGE-IN-ASSETS>                        47075502
<ACCUMULATED-NII-PRIOR>                         358755
<ACCUMULATED-GAINS-PRIOR>                     (123864)
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<PER-SHARE-NAV-BEGIN>                            14.77
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<PER-SHARE-NAV-END>                              18.02
<EXPENSE-RATIO>                                   1.01
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<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 082
   <NAME> ARMADA EQUITY FUND - RETAIL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                        135610027
<INVESTMENTS-AT-VALUE>                       172572009
<RECEIVABLES>                                   322004
<ASSETS-OTHER>                                    3965
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<SHARES-COMMON-STOCK>                           333129
<SHARES-COMMON-PRIOR>                           404026
<ACCUMULATED-NII-CURRENT>                       189107
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<NET-INVESTMENT-INCOME>                        1249081
<REALIZED-GAINS-CURRENT>                      18678577
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<NUMBER-OF-SHARES-REDEEMED>                     102003
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<NET-CHANGE-IN-ASSETS>                        47075502
<ACCUMULATED-NII-PRIOR>                         358755
<ACCUMULATED-GAINS-PRIOR>                     (123864)
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<INTEREST-EXPENSE>                                   0
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<AVERAGE-NET-ASSETS>                           5971978
<PER-SHARE-NAV-BEGIN>                            14.79
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<PER-SHARE-GAIN-APPREC>                           3.47
<PER-SHARE-DIVIDEND>                               .12
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<PER-SHARE-NAV-END>                              18.05
<EXPENSE-RATIO>                                   1.26
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 091
   <NAME> ARMADA FIXED INCOME FUND - INSTITUTIONAL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                        117258007
<INVESTMENTS-AT-VALUE>                       116520475
<RECEIVABLES>                                  1560550
<ASSETS-OTHER>                                    3552
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<TOTAL-ASSETS>                               118084577
<PAYABLE-FOR-SECURITIES>                             0
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<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-STOCK>                         10801748
<SHARES-COMMON-PRIOR>                          8351691
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<ACCUMULATED-NET-GAINS>                      (1937778)
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<DIVIDEND-INCOME>                                    0
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<EXPENSES-NET>                                  873891
<NET-INVESTMENT-INCOME>                        6163141
<REALIZED-GAINS-CURRENT>                        664254
<APPREC-INCREASE-CURRENT>                    (3207398)
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<SHARES-REINVESTED>                             185623
<NET-CHANGE-IN-ASSETS>                        23882124
<ACCUMULATED-NII-PRIOR>                              0
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<PER-SHARE-NAV-BEGIN>                            10.54
<PER-SHARE-NII>                                    .61
<PER-SHARE-GAIN-APPREC>                          (.22)
<PER-SHARE-DIVIDEND>                               .61
<PER-SHARE-DISTRIBUTIONS>                          .02
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.30
<EXPENSE-RATIO>                                    .80
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 092
   <NAME> ARMADA FIXED INCOME FUND - RETAIL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                        117258007
<INVESTMENTS-AT-VALUE>                       116520475
<RECEIVABLES>                                  1560550
<ASSETS-OTHER>                                    3552
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               118084577
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       628792
<TOTAL-LIABILITIES>                             628792
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     120131095
<SHARES-COMMON-STOCK>                           600711
<SHARES-COMMON-PRIOR>                           521502
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (1937778)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      (737532)
<NET-ASSETS>                                   6216191
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              7037032
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  873891
<NET-INVESTMENT-INCOME>                        6163141
<REALIZED-GAINS-CURRENT>                        664254
<APPREC-INCREASE-CURRENT>                    (3207398)
<NET-CHANGE-FROM-OPS>                          3619997
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       430647
<DISTRIBUTIONS-OF-GAINS>                         19051
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<NUMBER-OF-SHARES-SOLD>                         570360
<NUMBER-OF-SHARES-REDEEMED>                     533517
<SHARES-REINVESTED>                              42366
<NET-CHANGE-IN-ASSETS>                        23882124
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (2348532)
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 889400
<AVERAGE-NET-ASSETS>                           7803798
<PER-SHARE-NAV-BEGIN>                            10.60
<PER-SHARE-NII>                                    .59
<PER-SHARE-GAIN-APPREC>                          (.23)
<PER-SHARE-DIVIDEND>                               .59
<PER-SHARE-DISTRIBUTIONS>                          .02
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.35
<EXPENSE-RATIO>                                   1.04
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 102
   <NAME> ARMADA OHIO TAX EXEMPT FUND - RETAIL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                         84483799
<INVESTMENTS-AT-VALUE>                        84529597
<RECEIVABLES>                                  1588620
<ASSETS-OTHER>                                    2328
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                86120545
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       365907
<TOTAL-LIABILITIES>                             365907
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      85716547
<SHARES-COMMON-STOCK>                           269252
<SHARES-COMMON-PRIOR>                           295982
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         (7707)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         45798
<NET-ASSETS>                                   2869078
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              3997963
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  211040
<NET-INVESTMENT-INCOME>                        3786923
<REALIZED-GAINS-CURRENT>                         82782
<APPREC-INCREASE-CURRENT>                     (647617)
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       149821
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<NUMBER-OF-SHARES-SOLD>                          76941
<NUMBER-OF-SHARES-REDEEMED>                     117369
<SHARES-REINVESTED>                              13782
<NET-CHANGE-IN-ASSETS>                        10590846
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                      (48408)
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 666694
<AVERAGE-NET-ASSETS>                           3189914
<PER-SHARE-NAV-BEGIN>                            10.70
<PER-SHARE-NII>                                    .50
<PER-SHARE-GAIN-APPREC>                          (.04)
<PER-SHARE-DIVIDEND>                               .50
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.66
<EXPENSE-RATIO>                                    .26
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 101
   <NAME> ARMADA OHIO TAX EXEMPT FUND - INSTITUTIONAL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                         84483799
<INVESTMENTS-AT-VALUE>                        84529597
<RECEIVABLES>                                  1588620
<ASSETS-OTHER>                                    2328
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<TOTAL-ASSETS>                                86120545
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       365907
<TOTAL-LIABILITIES>                             365907
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      85716547
<SHARES-COMMON-STOCK>                          7749732
<SHARES-COMMON-PRIOR>                          7133537
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         (7707)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         45798
<NET-ASSETS>                                  82885560
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              3997963
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<EXPENSES-NET>                                  211040
<NET-INVESTMENT-INCOME>                        3786923
<REALIZED-GAINS-CURRENT>                         82782
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<NUMBER-OF-SHARES-SOLD>                        2191806
<NUMBER-OF-SHARES-REDEEMED>                    1151939
<SHARES-REINVESTED>                               9411
<NET-CHANGE-IN-ASSETS>                        10590846
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<ACCUMULATED-GAINS-PRIOR>                      (48408)
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 666694
<AVERAGE-NET-ASSETS>                          77377336
<PER-SHARE-NAV-BEGIN>                            10.74
<PER-SHARE-NII>                                    .50
<PER-SHARE-GAIN-APPREC>                          (.04)
<PER-SHARE-DIVIDEND>                               .50
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.70
<EXPENSE-RATIO>                                    .26
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 111
   <NAME> ARMADA EQUITY INCOME FUND - INSTITUTIONAL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                         55010507
<INVESTMENTS-AT-VALUE>                        61976004
<RECEIVABLES>                                   328443
<ASSETS-OTHER>                                   17241
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                62321688
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        80647
<TOTAL-LIABILITIES>                              80647
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      52591724
<SHARES-COMMON-STOCK>                          4895028
<SHARES-COMMON-PRIOR>                          3286369
<ACCUMULATED-NII-CURRENT>                       341643
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<ACCUMULATED-NET-GAINS>                        2342177
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<ACCUM-APPREC-OR-DEPREC>                       6965497
<NET-ASSETS>                                  61977902
<DIVIDEND-INCOME>                              1884787
<INTEREST-INCOME>                               132688
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  527266
<NET-INVESTMENT-INCOME>                        1490209
<REALIZED-GAINS-CURRENT>                       3007247
<APPREC-INCREASE-CURRENT>                      4208227
<NET-CHANGE-FROM-OPS>                          8705683
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      1375646
<DISTRIBUTIONS-OF-GAINS>                        569330
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        1795994
<NUMBER-OF-SHARES-REDEEMED>                     279278
<SHARES-REINVESTED>                              91943
<NET-CHANGE-IN-ASSETS>                        25922785
<ACCUMULATED-NII-PRIOR>                         232291
<ACCUMULATED-GAINS-PRIOR>                      (93238)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           370633
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 534154
<AVERAGE-NET-ASSETS>                          49079802
<PER-SHARE-NAV-BEGIN>                            11.01
<PER-SHARE-NII>                                    .34
<PER-SHARE-GAIN-APPREC>                           1.79
<PER-SHARE-DIVIDEND>                               .34
<PER-SHARE-DISTRIBUTIONS>                          .14
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.66
<EXPENSE-RATIO>                                   1.06
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 112
   <NAME> ARMADA EQUITY INCOME FUND - RETAIL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                         55010507
<INVESTMENTS-AT-VALUE>                        61976004
<RECEIVABLES>                                   328443
<ASSETS-OTHER>                                   17241
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                62321688
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        80647
<TOTAL-LIABILITIES>                              80647
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      52591724
<SHARES-COMMON-STOCK>                            20796
<SHARES-COMMON-PRIOR>                            11314
<ACCUMULATED-NII-CURRENT>                       341643
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        2342177
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       6965497
<NET-ASSETS>                                    263139
<DIVIDEND-INCOME>                              1884787
<INTEREST-INCOME>                               132688
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  527266
<NET-INVESTMENT-INCOME>                        1490209
<REALIZED-GAINS-CURRENT>                       3007247
<APPREC-INCREASE-CURRENT>                      4208227
<NET-CHANGE-FROM-OPS>                          8705683
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         5211
<DISTRIBUTIONS-OF-GAINS>                          2502
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          15409
<NUMBER-OF-SHARES-REDEEMED>                       6573
<SHARES-REINVESTED>                                646
<NET-CHANGE-IN-ASSETS>                        25922785
<ACCUMULATED-NII-PRIOR>                         232291
<ACCUMULATED-GAINS-PRIOR>                      (93238)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           370633
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 534154
<AVERAGE-NET-ASSETS>                            202906
<PER-SHARE-NAV-BEGIN>                            11.01
<PER-SHARE-NII>                                    .33
<PER-SHARE-GAIN-APPREC>                           1.77
<PER-SHARE-DIVIDEND>                               .32
<PER-SHARE-DISTRIBUTIONS>                          .14
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.65
<EXPENSE-RATIO>                                   1.31
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 121
   <NAME> ARMADA MID CAP REGIONAL EQUITY FUND - INSTITUTIONAL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                         92188235
<INVESTMENTS-AT-VALUE>                       103211589
<RECEIVABLES>                                  1343471
<ASSETS-OTHER>                                   16263
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               104571323
<PAYABLE-FOR-SECURITIES>                        199682
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       375567
<TOTAL-LIABILITIES>                             575249
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      88129235
<SHARES-COMMON-STOCK>                          7579155
<SHARES-COMMON-PRIOR>                          4479075
<ACCUMULATED-NII-CURRENT>                       251505
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        4591980
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      11023354
<NET-ASSETS>                                  99294432
<DIVIDEND-INCOME>                              1438918
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  814631
<NET-INVESTMENT-INCOME>                         624287
<REALIZED-GAINS-CURRENT>                       6946356
<APPREC-INCREASE-CURRENT>                      8581960
<NET-CHANGE-FROM-OPS>                         16152603
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       599450
<DISTRIBUTIONS-OF-GAINS>                       3933606
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        3553432
<NUMBER-OF-SHARES-REDEEMED>                     617848
<SHARES-REINVESTED>                             164496
<NET-CHANGE-IN-ASSETS>                        49436315
<ACCUMULATED-NII-PRIOR>                         256480
<ACCUMULATED-GAINS-PRIOR>                      1836495
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           571860
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 825427
<AVERAGE-NET-ASSETS>                          71622277
<PER-SHARE-NAV-BEGIN>                            11.38
<PER-SHARE-NII>                                    .08
<PER-SHARE-GAIN-APPREC>                           2.41
<PER-SHARE-DIVIDEND>                               .10
<PER-SHARE-DISTRIBUTIONS>                          .67
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.10
<EXPENSE-RATIO>                                   1.05
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 122
   <NAME> ARMADA MID CAP REGIONAL EQUITY FUND - RETAIL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                         92188235
<INVESTMENTS-AT-VALUE>                       103211589
<RECEIVABLES>                                  1343471
<ASSETS-OTHER>                                   16263
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               104571323
<PAYABLE-FOR-SECURITIES>                        199682
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       375567
<TOTAL-LIABILITIES>                             575249
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      88129235
<SHARES-COMMON-STOCK>                           363255
<SHARES-COMMON-PRIOR>                           316740
<ACCUMULATED-NII-CURRENT>                       251505
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        4591980
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      11023354
<NET-ASSETS>                                   4701642
<DIVIDEND-INCOME>                              1438918
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  814631
<NET-INVESTMENT-INCOME>                         624287
<REALIZED-GAINS-CURRENT>                       6946356
<APPREC-INCREASE-CURRENT>                      8581960
<NET-CHANGE-FROM-OPS>                         16152603
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        29812
<DISTRIBUTIONS-OF-GAINS>                        257265
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         132190
<NUMBER-OF-SHARES-REDEEMED>                     109477
<SHARES-REINVESTED>                              23802
<NET-CHANGE-IN-ASSETS>                        49436315
<ACCUMULATED-NII-PRIOR>                         256480
<ACCUMULATED-GAINS-PRIOR>                      1836495
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           571860
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 825427
<AVERAGE-NET-ASSETS>                           4391296
<PER-SHARE-NAV-BEGIN>                            11.26
<PER-SHARE-NII>                                    .06
<PER-SHARE-GAIN-APPREC>                           2.37
<PER-SHARE-DIVIDEND>                               .08
<PER-SHARE-DISTRIBUTIONS>                          .67
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.94
<EXPENSE-RATIO>                                   1.30
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 131
   <NAME> ARMADA ENHANCED INCOME FUND - INSTITUTIONAL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                         68602004
<INVESTMENTS-AT-VALUE>                        68365952
<RECEIVABLES>                                   415003
<ASSETS-OTHER>                                   17798
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                68798753
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       162831
<TOTAL-LIABILITIES>                             162831
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      68688699
<SHARES-COMMON-STOCK>                          6687888
<SHARES-COMMON-PRIOR>                          5953383
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         183275
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      (236052)
<NET-ASSETS>                                  66918343
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              3943722
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  156556
<NET-INVESTMENT-INCOME>                        3787166
<REALIZED-GAINS-CURRENT>                        302951
<APPREC-INCREASE-CURRENT>                     (648178)
<NET-CHANGE-FROM-OPS>                          3441939
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      4217329
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        5145841
<NUMBER-OF-SHARES-REDEEMED>                    4696970
<SHARES-REINVESTED>                             285634
<NET-CHANGE-IN-ASSETS>                         5621916
<ACCUMULATED-NII-PRIOR>                         589947
<ACCUMULATED-GAINS-PRIOR>                     (118426)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                      (1250)
<GROSS-ADVISORY-FEES>                           298505
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 464901
<AVERAGE-NET-ASSETS>                          63789076
<PER-SHARE-NAV-BEGIN>                            10.16
<PER-SHARE-NII>                                    .58
<PER-SHARE-GAIN-APPREC>                          (.05)
<PER-SHARE-DIVIDEND>                               .58
<PER-SHARE-DISTRIBUTIONS>                          .10
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.01
<EXPENSE-RATIO>                                    .23
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 132
   <NAME> ARMADA ENHANCED INCOME FUND - RETAIL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                         68602004
<INVESTMENTS-AT-VALUE>                        68365952
<RECEIVABLES>                                   415003
<ASSETS-OTHER>                                   17798
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                68798753
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       162831
<TOTAL-LIABILITIES>                             162831
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      68688699
<SHARES-COMMON-STOCK>                           171392
<SHARES-COMMON-PRIOR>                           250236
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         183275
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      (236052)
<NET-ASSETS>                                   1717579
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              3943722
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  156556
<NET-INVESTMENT-INCOME>                        3787166
<REALIZED-GAINS-CURRENT>                        302951
<APPREC-INCREASE-CURRENT>                     (648178)
<NET-CHANGE-FROM-OPS>                          3441939
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       159784
<DISTRIBUTIONS-OF-GAINS>                             0
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<NUMBER-OF-SHARES-SOLD>                         507880
<NUMBER-OF-SHARES-REDEEMED>                     602768
<SHARES-REINVESTED>                              16044
<NET-CHANGE-IN-ASSETS>                         5621916
<ACCUMULATED-NII-PRIOR>                         589947
<ACCUMULATED-GAINS-PRIOR>                     (118426)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                      (1250)
<GROSS-ADVISORY-FEES>                           298505
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 464901
<AVERAGE-NET-ASSETS>                           2366059
<PER-SHARE-NAV-BEGIN>                            10.18
<PER-SHARE-NII>                                    .56
<PER-SHARE-GAIN-APPREC>                          (.05)
<PER-SHARE-DIVIDEND>                               .56
<PER-SHARE-DISTRIBUTIONS>                          .11
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.02
<EXPENSE-RATIO>                                    .33
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 141
   <NAME> ARMADA TOTAL RETURN ADVANTAGE FUND - INSTITUTIONAL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                        289793342
<INVESTMENTS-AT-VALUE>                       280628009
<RECEIVABLES>                                  7142612
<ASSETS-OTHER>                                   19577
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               287790198
<PAYABLE-FOR-SECURITIES>                       4506037
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       843252
<TOTAL-LIABILITIES>                            5349289
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     288018671
<SHARES-COMMON-STOCK>                         28393481
<SHARES-COMMON-PRIOR>                         24786717
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        3587571
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (9165333)
<NET-ASSETS>                                 280400769
<DIVIDEND-INCOME>                               185797
<INTEREST-INCOME>                             18936656
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  378402
<NET-INVESTMENT-INCOME>                       18744051
<REALIZED-GAINS-CURRENT>                      12820049
<APPREC-INCREASE-CURRENT>                   (20509451)
<NET-CHANGE-FROM-OPS>                         11054649
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     21700338
<DISTRIBUTIONS-OF-GAINS>                       8342447
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        6069365
<NUMBER-OF-SHARES-REDEEMED>                    4201350
<SHARES-REINVESTED>                            1738749
<NET-CHANGE-IN-ASSETS>                        20931396
<ACCUMULATED-NII-PRIOR>                        3016611
<ACCUMULATED-GAINS-PRIOR>                     (887986)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          1545558
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1952203
<AVERAGE-NET-ASSETS>                         279275739
<PER-SHARE-NAV-BEGIN>                            10.55
<PER-SHARE-NII>                                    .70
<PER-SHARE-GAIN-APPREC>                          (.24)
<PER-SHARE-DIVIDEND>                               .82
<PER-SHARE-DISTRIBUTIONS>                          .31
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.88
<EXPENSE-RATIO>                                    .13
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000778202
<NAME> ARMADA FUNDS
<SERIES>
   <NUMBER> 142
   <NAME> ARMADA TOTAL RETURN ADVANTAGE FUND - RETAIL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1996
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                        289793342
<INVESTMENTS-AT-VALUE>                       280628009
<RECEIVABLES>                                  7142612
<ASSETS-OTHER>                                   19577
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               287790198
<PAYABLE-FOR-SECURITIES>                       4506037
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       843252
<TOTAL-LIABILITIES>                            5349289
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     288018671
<SHARES-COMMON-STOCK>                           206613
<SHARES-COMMON-PRIOR>                            10068
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        3587571
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (9165333)
<NET-ASSETS>                                   2040140
<DIVIDEND-INCOME>                               185797
<INTEREST-INCOME>                             18936656
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  378402
<NET-INVESTMENT-INCOME>                       18744051
<REALIZED-GAINS-CURRENT>                      12820049
<APPREC-INCREASE-CURRENT>                   (20509451)
<NET-CHANGE-FROM-OPS>                         11054649
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        60326
<DISTRIBUTIONS-OF-GAINS>                          2045
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<NUMBER-OF-SHARES-SOLD>                         198864
<NUMBER-OF-SHARES-REDEEMED>                       8252
<SHARES-REINVESTED>                               5933
<NET-CHANGE-IN-ASSETS>                        20931396
<ACCUMULATED-NII-PRIOR>                        3016611
<ACCUMULATED-GAINS-PRIOR>                     (887986)
<OVERDISTRIB-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1952203
<AVERAGE-NET-ASSETS>                            967013
<PER-SHARE-NAV-BEGIN>                            10.54
<PER-SHARE-NII>                                    .62
<PER-SHARE-GAIN-APPREC>                          (.22)
<PER-SHARE-DIVIDEND>                               .76
<PER-SHARE-DISTRIBUTIONS>                          .31
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.87
<EXPENSE-RATIO>                                    .36
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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