<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0101</schemaVersion>

    <submissionType>EFFECT</submissionType>

    <act>33</act>

    <testOrLive>LIVE</testOrLive>

    <effectiveData>
        <finalEffectivenessDispDate>2018-08-14</finalEffectivenessDispDate>
        <finalEffectivenessDispTime>12:30:00</finalEffectivenessDispTime>
        <form>N-14</form>
        <filer>
            <cik>0000353281</cik>
            <entityName>BLACKROCK FINANCIAL INSTITUTIONS SERIES TRUST</entityName>
            <fileNumber>333-225796</fileNumber>
            <seriesClassContractData>
                <merger>
                    <acquiringCik>0000353281</acquiringCik>
                    <acquiringEntityName>BLACKROCK FINANCIAL INSTITUTIONS SERIES TRUST</acquiringEntityName>
                    <acquiringSeriesId>S000004031</acquiringSeriesId>
                    <acquiringSeriesName>BlackRock Summit Cash Reserves Fund</acquiringSeriesName>
                    <acquiringClassContractId>C000011303</acquiringClassContractId>
                    <acquiringClassContractName>Investor A</acquiringClassContractName>
                    <targetCik>0001119720</targetCik>
                    <targetEntityName>STATE FARM MUTUAL FUND TRUST</targetEntityName>
                    <targetSeriesId>S000002053</targetSeriesId>
                    <targetSeriesName>State Farm Money Market Fund</targetSeriesName>
                    <targetClassContractId>C000005401</targetClassContractId>
                    <targetClassContractName>State Farm Money Market Fund - Premier shares</targetClassContractName>
                </merger>
                <merger>
                    <acquiringCik>0000353281</acquiringCik>
                    <acquiringEntityName>BLACKROCK FINANCIAL INSTITUTIONS SERIES TRUST</acquiringEntityName>
                    <acquiringSeriesId>S000004031</acquiringSeriesId>
                    <acquiringSeriesName>BlackRock Summit Cash Reserves Fund</acquiringSeriesName>
                    <acquiringClassContractId>C000011303</acquiringClassContractId>
                    <acquiringClassContractName>Investor A</acquiringClassContractName>
                    <targetCik>0001119720</targetCik>
                    <targetEntityName>STATE FARM MUTUAL FUND TRUST</targetEntityName>
                    <targetSeriesId>S000002053</targetSeriesId>
                    <targetSeriesName>State Farm Money Market Fund</targetSeriesName>
                    <targetClassContractId>C000005402</targetClassContractId>
                    <targetClassContractName>State Farm Money Market Fund - Legacy Class B shares</targetClassContractName>
                </merger>
                <merger>
                    <acquiringCik>0000353281</acquiringCik>
                    <acquiringEntityName>BLACKROCK FINANCIAL INSTITUTIONS SERIES TRUST</acquiringEntityName>
                    <acquiringSeriesId>S000004031</acquiringSeriesId>
                    <acquiringSeriesName>BlackRock Summit Cash Reserves Fund</acquiringSeriesName>
                    <acquiringClassContractId>C000011303</acquiringClassContractId>
                    <acquiringClassContractName>Investor A</acquiringClassContractName>
                    <targetCik>0001119720</targetCik>
                    <targetEntityName>STATE FARM MUTUAL FUND TRUST</targetEntityName>
                    <targetSeriesId>S000002053</targetSeriesId>
                    <targetSeriesName>State Farm Money Market Fund</targetSeriesName>
                    <targetClassContractId>C000005403</targetClassContractId>
                    <targetClassContractName>State Farm Money Market Fund - Institutional shares</targetClassContractName>
                </merger>
                <merger>
                    <acquiringCik>0000353281</acquiringCik>
                    <acquiringEntityName>BLACKROCK FINANCIAL INSTITUTIONS SERIES TRUST</acquiringEntityName>
                    <acquiringSeriesId>S000004031</acquiringSeriesId>
                    <acquiringSeriesName>BlackRock Summit Cash Reserves Fund</acquiringSeriesName>
                    <acquiringClassContractId>C000011303</acquiringClassContractId>
                    <acquiringClassContractName>Investor A</acquiringClassContractName>
                    <targetCik>0001119720</targetCik>
                    <targetEntityName>STATE FARM MUTUAL FUND TRUST</targetEntityName>
                    <targetSeriesId>S000002053</targetSeriesId>
                    <targetSeriesName>State Farm Money Market Fund</targetSeriesName>
                    <targetClassContractId>C000005404</targetClassContractId>
                    <targetClassContractName>State Farm Money Market Fund - Class R1 shares</targetClassContractName>
                </merger>
                <merger>
                    <acquiringCik>0000353281</acquiringCik>
                    <acquiringEntityName>BLACKROCK FINANCIAL INSTITUTIONS SERIES TRUST</acquiringEntityName>
                    <acquiringSeriesId>S000004031</acquiringSeriesId>
                    <acquiringSeriesName>BlackRock Summit Cash Reserves Fund</acquiringSeriesName>
                    <acquiringClassContractId>C000011303</acquiringClassContractId>
                    <acquiringClassContractName>Investor A</acquiringClassContractName>
                    <targetCik>0001119720</targetCik>
                    <targetEntityName>STATE FARM MUTUAL FUND TRUST</targetEntityName>
                    <targetSeriesId>S000002053</targetSeriesId>
                    <targetSeriesName>State Farm Money Market Fund</targetSeriesName>
                    <targetClassContractId>C000005405</targetClassContractId>
                    <targetClassContractName>State Farm Money Market Fund - Class R2 shares</targetClassContractName>
                </merger>
                <merger>
                    <acquiringCik>0000353281</acquiringCik>
                    <acquiringEntityName>BLACKROCK FINANCIAL INSTITUTIONS SERIES TRUST</acquiringEntityName>
                    <acquiringSeriesId>S000004031</acquiringSeriesId>
                    <acquiringSeriesName>BlackRock Summit Cash Reserves Fund</acquiringSeriesName>
                    <acquiringClassContractId>C000011303</acquiringClassContractId>
                    <acquiringClassContractName>Investor A</acquiringClassContractName>
                    <targetCik>0001119720</targetCik>
                    <targetEntityName>STATE FARM MUTUAL FUND TRUST</targetEntityName>
                    <targetSeriesId>S000002053</targetSeriesId>
                    <targetSeriesName>State Farm Money Market Fund</targetSeriesName>
                    <targetClassContractId>C000005406</targetClassContractId>
                    <targetClassContractName>State Farm Money Market Fund - Class R3 shares</targetClassContractName>
                </merger>
                <merger>
                    <acquiringCik>0000353281</acquiringCik>
                    <acquiringEntityName>BLACKROCK FINANCIAL INSTITUTIONS SERIES TRUST</acquiringEntityName>
                    <acquiringSeriesId>S000004031</acquiringSeriesId>
                    <acquiringSeriesName>BlackRock Summit Cash Reserves Fund</acquiringSeriesName>
                    <acquiringClassContractId>C000011303</acquiringClassContractId>
                    <acquiringClassContractName>Investor A</acquiringClassContractName>
                    <targetCik>0001119720</targetCik>
                    <targetEntityName>STATE FARM MUTUAL FUND TRUST</targetEntityName>
                    <targetSeriesId>S000002053</targetSeriesId>
                    <targetSeriesName>State Farm Money Market Fund</targetSeriesName>
                    <targetClassContractId>C000034514</targetClassContractId>
                    <targetClassContractName>State Farm Money Market Fund - Class A</targetClassContractName>
                </merger>
                <merger>
                    <acquiringCik>0000353281</acquiringCik>
                    <acquiringEntityName>BLACKROCK FINANCIAL INSTITUTIONS SERIES TRUST</acquiringEntityName>
                    <acquiringSeriesId>S000004031</acquiringSeriesId>
                    <acquiringSeriesName>BlackRock Summit Cash Reserves Fund</acquiringSeriesName>
                    <acquiringClassContractId>C000011303</acquiringClassContractId>
                    <acquiringClassContractName>Investor A</acquiringClassContractName>
                    <targetCik>0001119720</targetCik>
                    <targetEntityName>STATE FARM MUTUAL FUND TRUST</targetEntityName>
                    <targetSeriesId>S000002053</targetSeriesId>
                    <targetSeriesName>State Farm Money Market Fund</targetSeriesName>
                    <targetClassContractId>C000034515</targetClassContractId>
                    <targetClassContractName>State Farm Money Market Fund - Class B</targetClassContractName>
                </merger>
            </seriesClassContractData>
        </filer>
    </effectiveData>
</edgarSubmission>
