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): January 27, 2003


                          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


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





Item 5.    Other Events
- -----------------------

     On January 27,  2003,  the  Registrant  issued the attached  press  release
announcing the appointment of former South Dakota  Congressman John Thune to its
Board of Directors.

Item 7.    Financial Statements and Exhibits
- --------------------------------------------

         (a)      Exhibits

                  1.       Press release dated January 27, 2003.





                                   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:    January 28, 2003        By:  /s/ Donald J. Winchell
         -----------------            ------------------------------------------
                                      Donald J. Winchell, Senior Vice President,
                                      Treasurer, Chief Financial Officer and
                                      Principal Accounting Officer