SECURITIES AND EXCHANGE COMMISSION
                           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):     April 17, 1998  


                       FIRST MIDWEST FINANCIAL, INC.                 
         (Exact name of registrant as specified in its charter)


  Delaware                       0-22140               42-1406262        
(State or other jurisdiction (Commission File No.)    (IRS Employer     
     of incorporation)                                 Identification No.)
                                       
Fifth at Erie, Storm Lake, Iowa                                   50588  
(Address of principal executive offices)                       (Zip Code)


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


                               N/A                                   
(Former name or former address, if changed since last report)


Item 5.    Other Events

     On April 17, 1998, the Registrant issued the attached press release
announcing second quarter earnings, which included the effect of a $1.5
million charge to provision for loan losses related to mismanagement and
possible fraud by a former loan officer.

Item 7.    Financial Statements and Exhibits

     (a)  Exhibits

          99   Additional Exhibits
               
               Press release, dated April 17, 1998.

SIGNATURES                             

     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 thereunto duly authorized.

                                   FIRST MIDWEST FINANCIAL, INC.




Date: April 17, 1998               By:  /s/ Donald J. Winchell            
                                   Donald J. Winchell, Vice President,
                                   Treasurer, Chief Financial Officer and
                                   Principal Accounting Officer