March 15, 2005



Mail Stop 4-8

Darrel Posegate
Executive Vice President, Chief Financial Officer and Treasurer
H.F. Financial Corp.
225 South Main Avenue
Sioux Falls, SD 57104

Re:	Form 10-K
      Filed September 27, 2004
	File No. 033-44383

Dear Mr. Posegate:

      We have reviewed your filing and have the following comment.
We have limited our review to only your financial statements and
related disclosures.  Where indicated, we think you should revise
your documents in response to this comment in future filings
beginning with your Form 10-Q for the period ended March 31, 2005,
as
appropriate.  If you disagree, we will consider your explanation
as
to why our comment is inapplicable or a revision is unnecessary.
Please be as detailed as necessary in your explanation.  In our
comment, we have asked you to provide us with supplemental
information so we may better understand your disclosure.  After
reviewing this information, we may or may not raise additional
comments.

	Please understand that the purpose of our review process is
to
assist you in your compliance with the applicable disclosure
requirements and to enhance the overall disclosure in your filing.
We look forward to working with you in these respects.  We welcome
any questions you may have about our comment or any other aspect
of
our review.  Feel free to call us at the telephone numbers listed
at
the end of this letter.

Interim Financial Statements

Form 10-Q for the Period Ended December 31, 2004

Comparison of the Three Months Ended December 31, 2004 and
December
31, 2003 - page 27

1. We note your discussion of your year-to-date reclassification
of
deferred loan origination costs in the three months ended December
31, 2003 on page 28.  Supplementally provide us additional details
regarding this issue including the reason the reclassification was
needed, how it was identified, the noninterest income line item
that
was affected and what procedures you have designed to ensure the
correct reporting going forward.  Also, tell us why deferred fees
and
discounts on loans have trended from net deferred revenue to net
deferred costs, as disclosed on page 9 of your Form 10-K for the
year
ended June 30, 2004, and provide similar disclosure in future
filings.


* * * * *


      Please respond to this comment within 10 business days or
tell
us when you will provide us with a response.  In your response,
please tell us of your intent to provide the requested disclosures
in
future filings.  Please file your response letter on EDGAR.
Please
understand that we may have additional comments after reviewing
your
response to our comment.

	We urge all persons who are responsible for the accuracy and
adequacy of the disclosure in the filing reviewed by the staff to
be
certain that they have provided all information investors require
for
an informed decision.  Since the company and its management are in
possession of all facts relating to a company`s disclosure, they
are
responsible for the accuracy and adequacy of the disclosures they
have made.

	In connection with responding to our comment, please provide,
in
writing, a statement from the company acknowledging that:

* the company is responsible for the adequacy and accuracy of the
disclosure in the filing;

* staff comments or changes to disclosure in response to staff
comments do not foreclose the Commission from taking any action
with
respect to the filing; and

* the company may not assert staff comments as a defense in any
proceeding initiated by the Commission or any person under the
federal securities laws of the United States.

      In addition, please be advised that the Division of
Enforcement
has access to all information you provide to the staff of the
Division of Corporation Finance in our review of your filing or in
response to our comments on your filing.




You may contact Michael Volley at 202-824-5568 or me at 202-942-
1782
if you have questions regarding this comment.


Sincerely,



Paul Cline
	Senior Accountant

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Darrel Posegate
H.F. Financial Corp.
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