Exhibit 99

                   [First Midwest Financial, Inc. Letterhead]



                              FOR IMMEDIATE RELEASE
                           Contact: Investor Relations
                             Telephone: 712.732.4117

                JOHN THUNE JOINS FIRST MIDWEST BOARD OF DIRECTORS

(Storm Lake, Iowa - January 27, 2003) First Midwest Financial, Inc. announced
today that former South Dakota Congressman John Thune accepted an appointment to
its Board of Directors. He will also serve on the First Federal Savings Bank,
Security State Bank, and First Services Trust Company boards and on the Audit
and Stock Option Committee.

Thune received his Master's Degree in Business Administration from the
University of South Dakota in 1984. He then worked in Washington, DC as a
legislative assistant for U.S. Senator Jim Abdnor of South Dakota. From there,
he was appointed by President Ronald Reagan to serve at the Small Business
Administration.

In 1989, Thune returned to South Dakota to serve as Executive Director of the
state's Republican Party. In 1991, Governor George S. Mickelson appointed John
as State Railroad Director. He held this post until 1993, when he accepted the
position as Executive Director of the South Dakota Municipal League.

In 1996, John sought and won his first term as South Dakota's lone
Representative to the U.S. House. Thune was reelected in 1998 and 2000. He
served on the Agriculture, Transportation and Infrastructure, and Small Business
Committees.

James S. Haahr, Board Chairman of First Midwest Financial, Inc., commented, "We
are pleased and honored to have Mr. Thune join our board of directors. He brings
local, regional and national insight that will benefit our customers, our banks,
and First Midwest shareholders."





First Midwest currently operates two South Dakota banks - Brookings Federal Bank
at 600 Main Avenue in Brookings, and First Federal Savings Bank at 2500 South
Minnesota Avenue in Sioux Falls.

At December 31, 2002, First Midwest Financial, Inc. had assets of $673 million
and shareholders' equity of $44.7 million. The company's stock is traded on the
Nasdaq National Market under the symbol "CASH."


Corporate Profile: First Midwest Financial, Inc. is the holding company for
First Federal Savings Bank of the Midwest, headquartered in Storm Lake, Iowa,
and for Security State Bank, headquartered in Stuart, Iowa. First Federal
Savings Bank operates as a thrift with four divisions: First Federal Storm Lake,
Brookings Federal Bank, Iowa Savings Bank, and First Federal Sioux Falls.
Security State Bank operates as a state-chartered commercial bank. Sixteen
offices support customers throughout northwest and central Iowa, and in
Brookings and Sioux Falls, South Dakota.