UNITED STATES
                             WASHINGTON, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

       Date of report (Date of earliest event reported): October 22, 2004


                          First Midwest Financial, Inc.
             (Exact name of registrant as specified in its charter)


         Delaware                        0-22140                42-1406262
(State or other jurisdiction of     (Commission File)        (IRS Employer
incorporation or organization)            Number             Identification No.)

                       Fifth at Erie, Storm Lake, IA 50588
               (Address of principal executive offices)(Zip Code)

       Registrant's telephone number, including area code: (712)732-4117


     Check the  appropriate  box below if the Form 8-K  filing  is  intended  to
simultaneously satisfy the filing obligations of the registrant under any of the
following provisions:

[_]  Written  communications  pursuant to Rule 425 under the  Securities Act (17
     CFR 230.425)

[_]  Soliciting  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR

[_]  Pre-commencement   communications  pursuant  to  Rule  14d-2(b)  under  the
     Exchange Act (17 CFR 240.14d-2(b))

[_]  Pre-commencement   communications  pursuant  to  Rule  13e-4(c)  under  the
     Exchange Act (17 CFR 240.13e-4 (c))


Section 2 - Financial Information.

Item 2.02.  Results of Operations and Financial Condition.

     On October  22,  2004,  the  Registrant  issued a news  release  announcing
earnings for the quarter and fiscal year ended September 30, 2004. A copy of the
press  release is  attached as Exhibit  99.1 to this report and is  incorporated
into this Item 2.02 by reference.  The  information in this Form 8-K,  including
the  exhibits,  relating to this Item 2.02 shall not be deemed to be "filed" for
purposes of the  Securities  Exchange  Act of 1934,  as amended  (the  "Exchange
Act"), or otherwise subject to the liabilities  thereof,  nor shall it be deemed
to be  incorporated  by  reference in any filing under the Exchange Act or under
the  Securities  Act of 1933,  as  amended,  except to the  extent  specifically
provided in any such filing.

Section 9 - Financial Statements and Exhibits.

Item 9.01.    Financial Statements and Exhibits.

         (c)  Exhibits.
                    The following Exhibit is being furnished herewith:

                    99.1 Press Release of First Midwest  Financial,  Inc., dated
                         October 22, 2004.


     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                    FIRST MIDWEST FINANCIAL, INC.

                               By:  /s/ Ronald J. Walters
                                    Ronald J. Walters,
                                    Senior Vice President, Secretary, Treasurer
                                    and Chief Financial Officer

Dated: October  22, 2004

                                  Exhibit Index

Number                     Description of Exhibit
------                     ----------------------

99.1       Press Release of First Midwest Financial, Inc. dated October 22, 2004