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ALLIED SAVINGS BANK REPORTS MORTGAGE ORIGINATIONS FOR APRIL

 SANTA ROSA, Calif., May 3 /PRNewswire/ -- Redwood Empire Bancorp (AMEX: REB) today announced mortgage originations in April for Allied Savings Bank, its wholly-owned subsidiary.
 Mortgage production in the month of April 1993 totalled $148 million compared with $62 million in April 1992. Included in the 1993 results were originations from three wholesale mortgage lending offices in Sacramento, San Jose and Santa Rosa, two of which opened in 1992.
 Terance O'Mahoney, president and chief executive officer of Allied Savings Bank, attributed the growth in mortgage originations to the company's strategy to expand its wholesale lending activities. The company anticipates that it will open two new wholesale lending offices in July 1993.
 Allied Savings Bank also has three retail lending offices in Ukiah, Santa Rosa and Lakeport.
 Redwood Empire Bancorp is the holding company for Allied Savings Bank, F.S.B., a savings bank, and National Bank of the Redwoods, a commercial bank.
 -0- 5/3/93
 /CONTACT: Doug Sherk or Jenifer Kirtland, 415-296-7383, or Michele Katz or Miriam Adler, 212-986-5900, all of Morgen-Walke, for Allied Savings Bank/
 (REB)


CO: Redwood Empire Bancorp; Allied Savings Bank ST: California IN: FIN SU:

SG -- SF007 -- 3516 05/03/93 06:31 EDT
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Publication:PR Newswire
Date:May 3, 1993
Words:198
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