FMSB First Mutual Bancshares (MM)

First Mutual Bancshares, Inc. (NASDAQ: FMSB) announced today its Board of Directors has declared a quarterly cash dividend of $0.09 per share. The dividend is payable on July 6, 2007, to shareholders of record June 22, 2007. Earlier this week, First Mutual reported profits for the first quarter of 2007, with diluted earnings per share of $0.39. Diluted earnings per share in the first quarter of 2006 were $0.40. First Mutual�s performance has garnered attention from a number of sources. Keefe, Bruyette & Woods named First Mutual to its Honor Roll in 2007, 2006, 2005 and 2004 for the company�s 10-year earnings per share growth rate. In April 2007, US Banker magazine ranked First Mutual #31 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 sales finance offices in Orange Park, Florida and Mt. Clemens, Michigan.