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): February 26, 2001

                               ------------------

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


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


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


Registrant's telephone number, including area code:           (712) 732-4117
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                                       N/A
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          (Former name or former address, if changed since last report)





Item 5. Other Events

        On February 26, 2001, the  Registrant  issued the attached press release
announcing  the  declaration  of  a  cash  dividend  to  shareholders   and  the
authorization  for the  purchase  of  shares  by the  Trustee  of the  Company's
Employee Stock Ownership Plan.

Item 7. Financial Statements and Exhibits

        (a) Exhibits

            1. Press release dated February 26, 2001.




                                   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:    February 26, 2001        By:    /s/ Donald J. Winchell
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                                     Donald J. Winchell, Senior Vice President,
                                     Treasurer, Chief Financial Officer and
                                     Principal Accounting Officer