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                SECURITIES AND EXCHANGE COMMISSION
                        Washington, DC  20549
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                          FORM 10-KSB/A    

[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934 [No fee required]
     For the fiscal year ended September 30, 1998
                           OR
[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
     SECURITIES EXCHANGE ACT OF 1934 [No fee required]
     For the transition period from _________ to __________

     Commission file number 0-20464

                   MID-IOWA FINANCIAL CORP.
(Exact Name of Small Business Issuer as Specified in its Charter)

           DELAWARE                            42-1389053         
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(State or other jurisdiction of             (I.R.S. Employer
incorporation or organization)              Identification No.)

123 WEST SECOND STREET NORTH, NEWTON, IOWA          50208
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(Address of principal executive offices)          (Zip Code)

Registrant's telephone number, including area code:(515) 792-6236

Securities Registered Pursuant to Section 12(b) of the Act:

                         None

Securities Registered Pursuant to Section 12(g) of the Act:

            Common Stock, par value $.01 per share
            --------------------------------------
                     (Title of Class)

     Check whether the issuer (1) filed all reports required to
be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the past twelve months (or for such shorter period
that the Registrant was required to file such reports), and (2)
has been subject to such requirements for the past 90 days.  
YES  X    NO      

     Check if there is no disclosure of delinquent filers
pursuant to Item 405 of Regulation S-B contained herein, and no
disclosure will be contained, to the best of registrant's
knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB.  [X]

     Issuer's revenues for its most recent fiscal year ended
September 30, 1998 were $2.8 million.

     As of December 15, 1998, the Registrant had issued and
outstanding 1,746,148 net shares of Common Stock.  The aggregate
market value of the voting stock held by non-affiliates of the
Registrant, computed by reference to the average of the closing
price of such stock on the Nasdaq Smallcap Market as of December
15, 1998, was $23.4 million.  (The exclusion from such amount of
the market value of the shares owned by any person shall not be
deemed an admission by the Registrant that such person is an
affiliate of the Registrant.)

          DOCUMENTS INCORPORATED BY REFERENCE

     PART II of Form 10-KSB--Portions of 1998 Annual Report to
Stockholders.

     PART III of Form 10-KSB--Portions of Proxy Statement for
the 1999 Annual Meeting of Stockholders.
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                      PART II 

ITEM  6.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF
OPERATION                                            
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     Pages 4, 5, 6, 7, 8 and 10 of the 1998 Annual Report to
Stock-holders under the section of Management's Discussion and
Analysis have been amended.  The information under the caption
"Management's Discussion and Analysis" in the Company's 1998
Annual Report to Stockholders is herein incorporated by
reference.

ITEM 7.  FINANCIAL STATEMENTS
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     Pages, 19, 26, 27, 31, 32, 35, 37, and 41 of the financial
statements and the notes thereto contained in the Company's 1998
Annual Report to Stockholders have been amended.  The information
under the caption "Consolidated Financial Statements" and the
notes thereto in the Company's 1998 Annual Report to Stockholders
is herein incorporated by reference.
    

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                      SIGNATURES

     Pursuant to the requirements of Section 13 or 15(d) 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.

                             MID-IOWA FINANCIAL CORP.

   
Date: February 8, 1999       By: /s/ Kevin D. Ulmer
                                 -----------------------------
                                 Kevin D. Ulmer (Duly
                                 Authorized Representative)