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): November 25, 1996
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)
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Item 5. Other Events
On November 25, 1996, the Registrant issued the attached press
release.
Item 7. Financial Statements and Exhibits
(a) Exhibits
99 Additional Exhibits
Press release, dated November 25, 1996.
<PAGE>
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: November 26, 1996 By: /s/ Donald J. Winchell
Donald J. Winchell, Vice President,
Treasurer, Chief Financial Officer and
Principal Accounting Officer
FOR IMMEDIATE RELEASE
Contact: Kristi L. Frey
Telephone: 712-732-4117
FIRST MIDWEST FINANCIAL, INC. ANNOUNCES INCREASE IN CASH DIVIDEND
AND 50% STOCK DIVIDEND
STORM LAKE, IOWA, NOVEMBER 25, 1996, (NASDAQ: "CASH") First
Midwest Financial, Inc. has announced that the Corporation will
increase its quarterly cash dividend by 2.5 cents, from 11 cents
per share to 13.5 cents per share. The increase is consistent
with First Midwest's decision in the prior fiscal year to
increase dividends following the announcement of fiscal year-end
earnings. The cash dividend will be payable on or about January
2, 1997, to stockholders of record on December 16, 1996.
Subsequent thereto First Midwest will declare and pay a 50% stock
dividend. Under the terms of this stock dividend, First Midwest
stockholders will receive one share for every two shares held on
the record date. The stock dividend will be paid on or about
January 2, 1997, to stockholders of record on December 16, 1996.
Fractional shares created by the stock dividend will be paid in
cash. Assuming that First Midwest maintains its dividend payout
at the newly announced amount as anticipated, future dividends
will be declared at the rate of 9 cents per share to reflect the
stock dividend.
James S. Haahr, President and Chairman, stated that "as we did
last year at this time, the Board of Directors increased the cash
dividend in recognition of the financial performance of the
Company." Mr. Haahr added that "the Board's action with respect
to the stock dividend will increase the number of shares of First
Midwest's stock outstanding, making it easier for small investors
to purchase stock."
At September 30, 1996, the Corporation had assets of $388.0
million and stockholders' equity of $43.2 million. The
Corporation's stock is quoted on the Nasdaq Stock Market under
the ticker symbol "CASH".
CORPORATE PROFILE:
First Midwest Financial, Inc., is the holding company for First
Federal Savings Bank of the Midwest. This includes the Main Bank
Office in Storm Lake, Iowa and its 6 branch offices in a four-
county area of Northwest Iowa. It also includes the 2 offices of
the Brookings Federal Bank Division in Brookings, South Dakota,
and the Iowa Savings Bank Division in Des Moines, Iowa. Security
State Bank, with offices in Stuart, Casey and Menlo, Iowa, is a
separate holding of First Midwest and operates as a commercial
bank chartered by the State of Iowa.
