--------------------------------------------------------------------------------
UNITED STATES
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): September 27, 2004
----------------
First Midwest Financial, Inc.
(Exact name of registrant as specified in its charter)
---------------
Delaware 0-22140 42-1406262
(State or other jurisdiction of (Commission File (IRSEmployer
incorporation or organization) Number) Identification No.)
Fifth at Erie, Storm Lake, IA 50588
(Address of principal executive offices)(Zip Code)
Registrant's telephone number, including area code: (712) 732-4117
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligations of the registrant under any
of the following provisions:
[_] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4 (c))
-------------------
--------------------------------------------------------------------------------
TABLE OF CONTENTS
Item 1.01 - Entry into a Material Definitive Agreement
Signatures
Section 1 - Registrant's Business and Operations
Item 1.01 Entry into a Material Definitive Agreement
On September 27, 2004 the Registrant's wholly-owned subsidiary, First
Federal Savings Bank of the Midwest (the "Bank"), extended the
existing employment contracts of James S. Haahr and J. Tyler Haahr for
one additional year through September 30, 2007. James S. Haahr is the
Chairman of the Board and Chief Executive Officer, and J. Tyler Haahr
is the President and Chief Operating Officer, of both the Registrant
and the Bank.The contracts were originally entered into in 1993 and
1997, respectively, and contained three year terms that have been
successively extended each year after review by disinterested,
independent members of the Board of Directors. In addition, the
Registrant's subsidiary Bank awarded Messrs. James S Haahr and J.
Tyler Haahr cash bonuses of $106,000 each, as well as 8,100 and 22,950
stock options, respectively, for their performances, respectively,
during fiscal 2004. The stock options are vested at issuance, which
will be as of September 30, 2004. The exercise price of the options
will be at the mid-point of the bid-ask as of the close of markets on
September 30, 2004. The option awards for James S. Haahr will be in
the form of non-qualifyed stock options. The option awards for J.
Tyler Haahr will first be in the form of incentive stock options, up
to applicable limits pursuant to U.S. tax laws, with the balance in
the form of non-qualified stock options depending on the closing price
as of September 30, 2004. The cash and option awards were made by the
Compensation and Stock Option Committees, respectively, comprised of
disinterested, independent directors.
SIGNATURE
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 hereunto duly authorized.
FIRST MIDWEST FINANCIAL, INC.
By: /s/ Ronald J. Walters
---------------------
Ronald J. Walters
Senior Vice President, Secretary, Treasurer
and Chief Financial Officer
Dated: September 30, 2004