FMSB First Mutual Bancshares (MM)

First Mutual Bancshares, Inc. (Nasdaq:FMSB) announced today its Board of Directors has declared a quarterly cash dividend of $0.10 per share. The dividend is payable on July 5, to shareholders of record June 14, 2006. First Mutual raised its quarterly dividend by 11% in 2005, and paid a $1.00 per share special cash dividend earlier this year. Earlier this week, First Mutual reported its 54th consecutive quarter of year-over-year earnings growth, with first-quarter diluted earnings per share rising 6% from the same period in 2005. 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 parent company of 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.