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): January 21, 2005


                          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 January  21,  2005,  the  Registrant  issued a news  release  announcing
earnings for the quarter ended December 31, 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
                    January 21, 2005


     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: January 21, 2005

                                  Exhibit Index

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

99.1           Press Release of First Midwest Financial,  Inc. dated January 21,