FIRST MUTUAL BANCSHARES INC
8-K, 2000-09-21
STATE COMMERCIAL BANKS
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           SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                       Date of report: September 19, 2000


                          FIRST MUTUAL BANCSHARES, INC.
               (Exact Name of Registrant as Specified in Charter)


            WASHINGTON               005-57091                 91-2005970
   (State of Incorporation)    (Commission File Number)       (IRS Employer
                                                         Identification Number)


                              400 108th Avenue NE
                             Bellevue, WA 98004
                    (Address of Principal Executive Offices)

       Registrant's telephone number, including area code: (425) 455-7300


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ITEM 4.           CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.

              On September 19, 2000 First Mutual  Bancshares,  Inc. a Washington
corporation  (the "Company"),  dismissed  Deloitte & Touche LLP as the Company's
independent  accountants  and  engaged  Moss  Adams  LLP as its new  independent
accountants.  The decision to change the Company's  accounting firm was approved
by the Company's  Audit  Committee of the Board of Directors as empowered by the
Board of Directors.

              Deloitte  &  Touche  LLP  reports  on  the   Company's   financial
statements  for  December  31, 1999 and  December  31, 1998 (the two most recent
fiscal years) contained no adverse opinion or a disclaimer of opinion,  and were
not  qualified  or  modified  as  to  uncertainty,  audit  scope  or  accounting
principles.

              During  the  Company's  last two fiscal  years and the  subsequent
interim periods to the date hereof, there were no material disagreements between
the Company and Deloitte & Touche LLP on any matter of accounting  principles or
practices, financial statement disclosure, or auditing scope or procedure, which
disagreements,  if not  resolved  to the  satisfaction  of Deloitte & Touche LLP
would  have  caused  them  to  make  reference  to  the  subject  matter  of the
disagreements in connection with their report on the financial statement.

              None of the "reportable  events" described in Item 304(a)(1)(v) of
Regulation  S-K under the  Securities  Act of 1933  occurred with respect to the
Company  within  the last two fiscal  years and the  subsequent  interim  period
regarding any of the matters or events set forth in Item 304(a)(2) of Regulation
S-K.

              The Company has requested Deloitte & Touche LLP to furnish it with
a letter addressed to the Securities and Exchange  Commission stating whether it
agrees with the above statements made by the Company in this Form 8-K. A copy of
such letter, dated September 20, 2000 is filed as an Exhibit to this 8-K.

              The Company has engaged the  accounting  firm of Moss Adams LLP as
its new  independent  accountant.  The decision to appoint Moss Adams LLP as the
new independent  accountants for the Company was approved by the Company's Audit
Committee as empowered by the Board of Directors.

ITEM 7.           FINANCIAL STATEMENTS AND EXHIBITS

                  (c)      Exhibits
                           Letter from  Deloitte & Touche LLP agreeing  with the
statements contained in this Form 8-K.


<PAGE>


                                   SIGNATURES

              Pursuant to the  requirements  of the  Securities  Exchange Act of
1934,  the  registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.

                                 FIRST MUTUAL BANCSHARES, INC.

                                 By: /s/ John R. Valaas
                                    -------------------------------------------
                                 John R. Valaas
                                Its:  President and Chief Executive Officer



<PAGE>





      Exhibit Number        Description

      16              Letter of Deloitte & Touche LLP dated September 20, 2000.






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