EXHIBIT 21




                         SUBSIDIARIES OF THE REGISTRANT



                                                          Percentage of   State of Incorporation
         Parent                  Subsidiary                Ownership        or Organization
- ------------------------------------------------------------------------------------------------

                                                                        
First Midwest             First Federal Savings Bank         100%                 Federal
Financial, Inc.           of the Midwest

First Midwest             Security State Bank                100%                 Iowa
Financial, Inc.

First Midwest             First Midwest Financial            100%                 Delaware
Financial, Inc.           Capital Trust I

First Federal Savings     First Services Financial           100%                 Iowa
Bank of the Midwest       Limited

First Services            Brookings Service                  100%                 South Dakota
Financial Limited         Corporation







         The financial statements of First Midwest Financial, Inc. are
consolidated with those of its subsidiaries.