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ALLIED SAVINGS BANK REPORTS MORTGAGE ORIGINATIONS FOR MAY

 SANTA ROSA, Calif., June 2 /PRNewswire/ -- Redwood Empire Bancorp (AMEX: REB) today announced mortgage originations in May for Allied Savings Bank, its wholly owned subsidiary.
 Mortgage production in the month of May 1993 totalled $152 million compared with $58 million in May 1992. The 1993 results included 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 success of the company's efforts to expand its wholesale lending activities in Northern California. The company expects to open two additional wholesale lending offices in August 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- 6/2/93
 /CONTACT: Doug Sherk or Jenifer Kirtland, 415-296-7383; or Michele Katz or Miriam Adler 212-850-5600, all of Morgen-Walke for Redwood Empire Bancorp/
 (REB)


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

TM -- SF004 -- 4228 06/02/93 06:30 EDT
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Publication:PR Newswire
Date:Jun 2, 1993
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