First Mutual Bancshares Increases Cash Dividend by 40%.Business Editors BELLEVUE, Wash.--(BUSINESS WIRE)--Nov. 15, 2001 First Mutual Bancshares, Inc. (Nasdaq:FMSB FMSB Financial Markets Service Bank ) today announced its Board of Directors has declared a cash dividend of $.07 per share to shareholders of record on December 12, 2001. This marks a 40% increase from the $.05 per share the bank has paid historically. The dividend will be paid on January 2, 2002. "First Mutual reported its 36th consecutive quarter of earnings growth last month, and has earned over $5.2 million in the first nine months of 2001," stated John Valaas, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We have a tradition of sharing our success with shareholders, while utilizing a portion of our profits to continue to grow our business. We plan to open a branch in Woodinville, our twelfth, in the next nine months." First Mutual Bank is an independent, community-based bank that operates eleven full-service offices in the Puget Sound Puget Sound (py  `jĕt), arm of the Pacific Ocean, NW Wash., connected with the Pacific by Juan de Fuca Strait, entered through the Admiralty Inlet and extending in two arms c. area, as well as a loan production office in Tacoma. The FDIC-insured savings bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. derives a significant portion of its income from small commercial-property portfolio loan originations and mortgage banking activities. Forward-Looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. : This press release contains a statement concerning future operations, expectations, plans and prospects of First Mutual Bancshares, Inc. and First Mutual Bank (together, the "Company") that is a forward-looking statement for the purpose of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The statement containing the word "plan" constitutes a Forward Looking Statement. Actual events, results or developments may differ materially from those expressed or implied in the forward-looking statement due to a number of risks and uncertainties. Factors that could affect actual results include the ability of the Company to control its costs and expenses, attract deposits and borrowers, economic conditions, and the legislative and regulatory changes affecting the banking industry. These risks and uncertainties should be considered in evaluating the forward-looking statement and undue reliance should not be placed on such statements. The Company shall not be responsible to update any such forward-looking statements. |
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