<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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SIGNATURE PAUL J. SCHMANSKI
TITLE FINANCIAL ANALYST
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000932381
<NAME> FIRST OMAHA FUNDS, INC.
<SERIES>
<NUMBER> 1
<NAME> FIRST OMAHA U.S. GOVERNMENT OBLIGATIONS FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-START> APR-10-1995
<PERIOD-END> SEP-30-1995
<INVESTMENTS-AT-COST> 82,478,000
<INVESTMENTS-AT-VALUE> 82,478,000
<RECEIVABLES> 7,885
<ASSETS-OTHER> 80,597
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 82,566,482
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 452,884
<TOTAL-LIABILITIES> 452,884
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 82,116,454
<SHARES-COMMON-STOCK> 82,116,454
<SHARES-COMMON-PRIOR> 18,000
<ACCUMULATED-NII-CURRENT> 13,094
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (15,950)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 82,113,598
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,393,305
<OTHER-INCOME> 0
<EXPENSES-NET> (219,036)
<NET-INVESTMENT-INCOME> 2,174,269
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 2,174,269
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,174,269)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 246,433,487
<NUMBER-OF-SHARES-REDEEMED> 164,830,426
<SHARES-REINVESTED> 495,393
<NET-CHANGE-IN-ASSETS> 82,095,598
<ACCUMULATED-NII-PRIOR> 13,094
<ACCUMULATED-GAINS-PRIOR> (15,950)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 101,920
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 237,729
<AVERAGE-NET-ASSETS> 85,489,820
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.03)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.54
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000932381
<NAME> FIRST OMAHA FUNDS, INC.
<SERIES>
<NUMBER> 2
<NAME> FIRST OMAHA SHORT/INTERMED. FIXED INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-START> APR-10-1995
<PERIOD-END> SEP-30-1995
<INVESTMENTS-AT-COST> 22,350,583
<INVESTMENTS-AT-VALUE> 22,277,651
<RECEIVABLES> 382,990
<ASSETS-OTHER> 45,897
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 22,706,538
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 25,636
<TOTAL-LIABILITIES> 25,636
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 22,962,165
<SHARES-COMMON-STOCK> 2,294,340
<SHARES-COMMON-PRIOR> 104
<ACCUMULATED-NII-CURRENT> 25,662
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (233,993)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (72,932)
<NET-ASSETS> 22,680,902
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 674,730
<OTHER-INCOME> 0
<EXPENSES-NET> (95,547)
<NET-INVESTMENT-INCOME> 579,183
<REALIZED-GAINS-CURRENT> (55,017)
<APPREC-INCREASE-CURRENT> 543,669
<NET-CHANGE-FROM-OPS> 1,067,835
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (558,988)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,469,000
<NUMBER-OF-SHARES-REDEEMED> 231,302
<SHARES-REINVESTED> 56,538
<NET-CHANGE-IN-ASSETS> 22,679,902
<ACCUMULATED-NII-PRIOR> 5,467
<ACCUMULATED-GAINS-PRIOR> (178,976)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 53,654
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 109,052
<AVERAGE-NET-ASSETS> 19,335,715
<PER-SHARE-NAV-BEGIN> 9.66
<PER-SHARE-NII> 0.26
<PER-SHARE-GAIN-APPREC> 0.22
<PER-SHARE-DIVIDEND> (0.25)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.89
<EXPENSE-RATIO> 0.89
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000932381
<NAME> FIRST OMAHA FUNDS, INC.
<SERIES>
<NUMBER> 3
<NAME> FIRST OMAHA FIXED INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-START> APR-10-1995
<PERIOD-END> SEP-30-1995
<INVESTMENTS-AT-COST> 73,861,614
<INVESTMENTS-AT-VALUE> 74,738,681
<RECEIVABLES> 1,157,665
<ASSETS-OTHER> 71,830
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 75,968,176
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 64,903
<TOTAL-LIABILITIES> 64,903
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 75,294,653
<SHARES-COMMON-STOCK> 7,514,150
<SHARES-COMMON-PRIOR> 104
<ACCUMULATED-NII-CURRENT> 83,928
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (352,375)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 877,067
<NET-ASSETS> 75,903,273
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,465,779
<OTHER-INCOME> 0
<EXPENSES-NET> (285,329)
<NET-INVESTMENT-INCOME> 2,180,450
<REALIZED-GAINS-CURRENT> (164,472)
<APPREC-INCREASE-CURRENT> 3,373,939
<NET-CHANGE-FROM-OPS> 5,389,917
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,101,168)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,518,426
<NUMBER-OF-SHARES-REDEEMED> 213,229
<SHARES-REINVESTED> 208,849
<NET-CHANGE-IN-ASSETS> 75,902,273
<ACCUMULATED-NII-PRIOR> 4,646
<ACCUMULATED-GAINS-PRIOR> (187,903)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 204,241
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 328,167
<AVERAGE-NET-ASSETS> 61,651,158
<PER-SHARE-NAV-BEGIN> 9.63
<PER-SHARE-NII> 0.30
<PER-SHARE-GAIN-APPREC> 0.46
<PER-SHARE-DIVIDEND> (0.29)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.10
<EXPENSE-RATIO> 0.84
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000932381
<NAME> FIRST OMAHA FUNDS, INC.
<SERIES>
<NUMBER> 4
<NAME> FIRST OMAHA EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-START> APR-10-1995
<PERIOD-END> SEP-30-1995
<INVESTMENTS-AT-COST> 170,344,301
<INVESTMENTS-AT-VALUE> 197,616,402
<RECEIVABLES> 293,564
<ASSETS-OTHER> 129,380
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 198,039,346
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 143,365
<TOTAL-LIABILITIES> 143,365
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 163,781,454
<SHARES-COMMON-STOCK> 15,716,402
<SHARES-COMMON-PRIOR> 7,024
<ACCUMULATED-NII-CURRENT> 140,871
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6,701,555
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 27,272,101
<NET-ASSETS> 197,895,981
<DIVIDEND-INCOME> 2,200,307
<INTEREST-INCOME> 804,934
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<EXPENSES-NET> (850,347)
<NET-INVESTMENT-INCOME> 2,154,894
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<DISTRIBUTIONS-OF-INCOME> (2,021,283)
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<NUMBER-OF-SHARES-SOLD> 15,855,750
<NUMBER-OF-SHARES-REDEEMED> 312,816
<SHARES-REINVESTED> 166,444
<NET-CHANGE-IN-ASSETS> 197,815,981
<ACCUMULATED-NII-PRIOR> 7,260
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<PER-SHARE-NAV-BEGIN> 11.39
<PER-SHARE-NII> 0.14
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<PER-SHARE-DIVIDEND> (0.13)
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</TABLE>
