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<PAGE> PAGE 6
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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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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
066 C000500 N
066 D000500 Y
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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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> YEAR
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-START> APR-10-1995
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 88,042,074
<INVESTMENTS-AT-VALUE> 88,042,074
<RECEIVABLES> 37,923
<ASSETS-OTHER> 64,718
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 88,144,715
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 429,982
<TOTAL-LIABILITIES> 429,982
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 87,728,801
<SHARES-COMMON-STOCK> 87,730,683
<SHARES-COMMON-PRIOR> 18,000
<ACCUMULATED-NII-CURRENT> 1,970
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (16,038)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 87,714,733
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,910,772
<OTHER-INCOME> 0
<EXPENSES-NET> (470,432)
<NET-INVESTMENT-INCOME> 4,440,340
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 4,440,340
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,440,340)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 464,171,291
<NUMBER-OF-SHARES-REDEEMED> 377,600,568
<SHARES-REINVESTED> 1,141,960
<NET-CHANGE-IN-ASSETS> 87,696,733
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (15,950)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 216,379
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 509,109
<AVERAGE-NET-ASSETS> 88,752,198
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.05
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<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.54
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<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> YEAR
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-START> APR-10-1995
<PERIOD-END> MAR-31-1996
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<INVESTMENTS-AT-VALUE> 21,676,048
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<TOTAL-ASSETS> 22,079,901
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<TOTAL-LIABILITIES> 24,089
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 22,384,874
<SHARES-COMMON-STOCK> 2,238,496
<SHARES-COMMON-PRIOR> 104
<ACCUMULATED-NII-CURRENT> 47,662
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (287,977)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (88,747)
<NET-ASSETS> 22,055,812
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,356,961
<OTHER-INCOME> 0
<EXPENSES-NET> (194,462)
<NET-INVESTMENT-INCOME> 1,162,499
<REALIZED-GAINS-CURRENT> (109,194)
<APPREC-INCREASE-CURRENT> 527,854
<NET-CHANGE-FROM-OPS> 1,581,159
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,116,807)
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 2,835,206
<NUMBER-OF-SHARES-REDEEMED> 709,044
<SHARES-REINVESTED> 112,230
<NET-CHANGE-IN-ASSETS> 22,054,812
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (178,976)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 221,567
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<PER-SHARE-NAV-BEGIN> 9.66
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<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> YEAR
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-START> APR-10-1995
<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 75,280,955
<INVESTMENTS-AT-VALUE> 75,234,390
<RECEIVABLES> 1,102,869
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<ACCUMULATED-NET-GAINS> (262,977)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (46,565)
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<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,900,818
<OTHER-INCOME> 0
<EXPENSES-NET> (602,825)
<NET-INVESTMENT-INCOME> 4,297,993
<REALIZED-GAINS-CURRENT> (75,074)
<APPREC-INCREASE-CURRENT> 2,450,307
<NET-CHANGE-FROM-OPS> 6,673,226
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,110,469)
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 8,410,817
<NUMBER-OF-SHARES-REDEEMED> 1,181,072
<SHARES-REINVESTED> 403,885
<NET-CHANGE-IN-ASSETS> 76,340,919
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (187,903)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 432,881
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 692,782
<AVERAGE-NET-ASSETS> 68,516,108
<PER-SHARE-NAV-BEGIN> 9.63
<PER-SHARE-NII> 0.59
<PER-SHARE-GAIN-APPREC> 0.35
<PER-SHARE-DIVIDEND> (0.57)
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<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.00
<EXPENSE-RATIO> 0.83
<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> YEAR
<FISCAL-YEAR-END> MAR-31-1996
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<PERIOD-END> MAR-31-1996
<INVESTMENTS-AT-COST> 189,234,895
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<NET-ASSETS> 224,168,813
<DIVIDEND-INCOME> 4,584,921
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<GROSS-ADVISORY-FEES> 1,433,904
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<PER-SHARE-NAV-BEGIN> 11.39
<PER-SHARE-NII> 0.28
<PER-SHARE-GAIN-APPREC> 2.13
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<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000932381
<NAME> FIRST OMAHA FUNDS INC
<SERIES>
<NUMBER> 5
<NAME> FIRST OMAHA SMALL CAP VALUE FUND
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> MAR-31-1996
<PERIOD-START> MAR-29-1996
<PERIOD-END> MAR-31-1996
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</TABLE>
