From: John Valaas [John.Valaas@firstmutual.com]
Sent: Saturday, April 27, 2002 11:57 AM
To: rule-comments@sec.gov
Subject: File No. S-08-02

I would like to register my very strong objections to the proposed rule that would accelerate 
the filing dates of Forms 10-K and 10-Q.  We are a very small corporation, just barely over the 
$75 million float hurdle on a good day.  This would be extremely burdensome to an organization 
our size.  We are very thinly staffed, and work very hard to meet the existing filing deadlines, 
as there only one or two individuals in our corporation that are qualified to write the narrative sections associated with these filings.  In reality, this is not a problem that can be solved by 
hiring additional staff.  We believe that the existing filing deadlines allow investors plenty 
of time to receive and review the filings.  This would be incredibly burdensome and extremely 
difficult to meet.  I urge you not to adopt the proposed accelerated filing deadlines.

John R. Valaas
President and CEO
First Mutual Bancshares