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

                                October 26, 2004
                ------------------------------------------------
                Date of Report (Date of Earliest Event Reported)

                           IOWA FIRST BANCSHARES CORP.
             ------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)


            IOWA                           2-89283                42-1211285
--------------------------------------------------------------------------------
(State or Other Jurisdiction of    (Commission File Number)   (I.R.S. Employer
 Incorporation or Organization)                              Identification No.)


                             300 EAST SECOND STREET
                              MUSCATINE, IOWA 52761
                    ----------------------------------------
                    (Address of Principal Executive Offices)

       Registrant's Telephone Number, Including Area Code: (563) 263-4221

                                 NOT APPLICABLE
              -----------------------------------------------------
              (Former Name, Former Address, and Former Fiscal Year,
                          if Changed Since Last Report)

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Item 2.02.  Results of Operations and Financial Condition

On  October  26,  2004,  Iowa  First  Bancshares  Corp.  issued  a News  Release
announcing  its earnings  for the quarter and first nine months ended  September
30, 2004. A copy of the News Release is attached hereto as Exhibit 99.1.

Item 9.01.  Financial Statements and Exhibits

The following exhibit is filed as part of this Report:

Exhibit No.                                               Description
-----------                                  -----------------------------------
99.1                                         News Release dated October 26, 2004


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                                  EXHIBIT INDEX



Exhibit No.                                               Description
-----------                                  -----------------------------------
99.1                                         News Release dated October 26, 2004



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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 hereunto duly authorized.


                                      IOWA FIRST BANCSHARES CORP.


Date:   October 26, 2004              By:  /s/  Kim K. Bartling
                                           -------------------------------------
                                           Name:    Kim K. Bartling
                                           Title:      Executive Vice President,
                                           Chief Operating Officer &
                                           Treasurer


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