First Mutual Bancshares Sets First Quarter 2006 Conference Call

First Mutual Bancshares, Inc. (Nasdaq:FMSB) has
scheduled its quarterly earnings release and conference call. The
holding company for First Mutual Bank expects to report earnings for
the first quarter 2006 after the market closes on Tuesday, April 25,
2006. Management will host an analyst call the following morning to
discuss the results.
   On Wednesday, April 26, investment professionals are invited to
dial 303-262-2140 at 7:00 am PDT (10:00 am EDT). All current and
prospective shareholders are welcome to listen to the live call or
replay through a webcast posted on the bank's website,
www.firstmutual.com, where it will be archived for one month. A
telephone replay will also be available for a month, beginning
approximately two hours after the conclusion of the call, at
303-590-3000 using 11056963# for the passcode.
   On January 24, 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, as well as a sales finance office in
Jacksonville, Florida.
   www.firstmutual.com