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): December 27, 1999
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FIRST MIDWEST FINANCIAL, INC.
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(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)
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Item 5. Other Events
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On December 27, 1999, the Registrant issued the attached press release
announcing the authorization of a stock repurchase program.
Item 7. Financial Statements and Exhibits
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(a) Exhibits
1. Press release, dated December 27, 1999.
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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: December 31, 1999 By: /s/ Donald J. Winchell
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Donald J. Winchell, Senior Vice President,
Treasurer, Chief Financial Officer and
Principal Accounting Officer
Exhibit 99
Press Release
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[First Midwest Financial, Inc. Letterhead]
FOR IMMEDIATE RELEASE
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Contact: Investor Relations
Telephone: 712-732-4117
FIRST MIDWEST FINANCIAL, INC. ANNOUNCES STOCK REPURCHASE PROGRAM
(Storm Lake, Iowa - December 27, 1999) First Midwest Financial, Inc.
announced its intention to repurchase 130,000 shares through open market and
privately negotiated transactions. The shares will be purchased at prevailing
market prices during the next twelve months, depending upon market conditions.
James S. Haahr, President and Chief Executive Officer of First Midwest,
indicated that the Board of Directors authorized the repurchase program at its
meeting today. The repurchased shares will become treasury shares to be used for
general corporate purposes, including the issuance of shares in connection with
grants and awards under the Company's stock-based benefit plans. Mr. Haahr
stated, "We believe the repurchase of our shares represents an attractive
investment that will benefit the Company and our shareholders."
At September 30, 1999, the Company had assets of $511 million,
shareholders' equity of $39.8 million, and capital ratios well in excess of
regulatory requirements. 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 and Security State Bank. First Federal
Savings Bank has its main bank office in Storm Lake, Iowa, and six branch
offices in a four-county area of Northwest Iowa. It also includes two Brookings
Federal Bank Division offices in Brookings, South Dakota, and two Iowa Savings
Bank Division offices in Des Moines and West 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.
