FMSB First Mutual Bancshares (MM)

First Mutual Bancshares, Inc. (Nasdaq:FMSB) announced today that John Valaas, President and CEO, will be presenting in a Pacific Northwest Panel at the Cohen Bros. & Company Second Annual Investor Conference. The holding company for First Mutual Bank is scheduled to present on Tuesday, March 14, 2006, at 10:25 am EST. The live and archived presentation can be viewed at www.firstmutual.com. In January, First Mutual reported its 53rd consecutive quarter of year-over-year earnings growth, with fourth-quarter diluted earnings per share rising 13% from the same period in 2004. For the full year, earnings per share were $1.86, up 11% from $1.68 in 2004. First Mutual's consistent performance has garnered attention from a number of sources. Keefe, Bruyette & Woods named First Mutual to its Honor Roll in 2005 and 2004 for the company's 10-year earnings per share growth rate. In August 2005, U.S. Banker magazine ranked First Mutual #34 in the Top 100 Publicly Traded Mid-Tier Banks, which includes those with less than $10 billion in assets, based on its three-year return on equity. First Mutual Bancshares, Inc. is the holding company for its wholly owned subsidiary, First Mutual Bank, an independent, community-based bank that operates 12 full-service banking centers in the Puget Sound area and a sales finance office in Jacksonville, Florida. www.firstmutual.com