PERPETUAL MIDWEST FINANCIAL INC
8-K, 1996-10-17
SAVINGS INSTITUTION, FEDERALLY CHARTERED
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                     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)
                              October 10, 1996



                      PERPETUAL MIDWEST FINANCIAL, INC.
       ---------------------------------------------------------------
           (Exact name of Registrant as specified in its Charter)




   DELAWARE                     0-23368                         44-1415490
- ------------------------------------------------------------------------------
(State or other           (Commission File Number)             (IRS Employer 
 jurisdiction of                                                Identification 
 incorporation)                                                    Number)

700 FIRST AVENUE, N.E., CEDAR RAPIDS, IOWA                         52407
- ------------------------------------------------------------------------------
(Address of principal executive offices)                        (Zip Code)



Registrant's telephone number, including area code:  (319) 366-1851
- ------------------------------------------------------------------------------


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


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ITEM 5.      OTHER EVENTS 


        Perpetual Midwest Financial, Inc. (the "Registrant") issued a press
release dated October 10, 1996, attached hereto as Exhibit 28.1 announcing
their declaration of a cash dividend payable November 19, 1996 to shareholders
of record October 31, 1996. 



ITEM 7.      FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS 

        (c)  Exhibits 

             Exhibit 28.1 Press Release dated October 10, 1996. 




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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. 


                                        PERPETUAL MIDWEST FINANCIAL, INC. 



Date: 10/17/96                              By: /s/ Rick L. Brown 
      ---------------------------               ----------------------
                                                Rick L. Brown 
                                                Sr. Vice President 







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                                                              SEQUENTIALLY 
EXHIBIT                                                         NUMBERED 
NUMBER                        DESCRIPTION                         PAGE 
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<S>             <C>                                         <C>
EX. 28.1        PRESS RELEASE DATED OCTOBER 10, 1996 

 


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                                                                    EXHIBIT 28.1



FOR IMMEDIATE RELEASE


                                                DATE: October 10, 1996
                                                CONTACT:  Rick L. Brown, CFO
                                                  at  (319) 369-5601

                      PERPETUAL MIDWEST FINANCIAL, INC



CEDAR RAPIDS, IOWA ------


Perpetual Midwest Financial, Inc., parent company of Perpetual Savings Bank,
FSB, announced that the Corporation will pay a cash dividend of $0.075 (seven
and one-half cents) per share of outstanding common stock. The dividend will be
payable on November 19, 1996 to shareholders of record on October 31, 1996.

Perpetual Savings Bank, FSB serves Linn and Johnson counties through its four
full service offices in Cedar Rapids and one office located in Iowa City, 
Iowa.

The Corporation's stock is traded on the NASDAQ National Market under the symbol
"PMFI." 


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