We present a unified image compressor with spline biorthogonal wavelets and dyadic rational filter coefficients which gives high computational speed and excellent compression performance. Convolutions with these filters can be preformed by using only arithmetic shifting and addition operations. Wavelet coefficients can be encoded with an arithmetic coder which also uses arithmetic shifting and addition operations. Therefore, from the beginning to the end, the while encoding/decoding process can be done within a short period of time. The proposed method naturally extends form the lossless compression to the lossy but high compression range and can be easily adapted to the progressive reconstruction.