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ALLIED SAVINGS BANK SETS ANOTHER RECORD IN MONTHLY MORTGAGE ORIGINATIONS IN SEPTEMBER

 SANTA ROSA, Oct. 5 /PRNewswire/ -- Redwood Empire Bancorp (AMEX: REB) today announced that mortgage originations at Allied Savings Bank, its wholly owned subsidiary, reached another monthly record in September. Originations in September 1993 were $215 million, more than double the $105 million in mortgage originations in September of 1992.
 "Continued growth in origniations reflects the success of our strategy to expand our wholesale mortgage operations into key markets in northern California," said Terance O'Mahoney, president and chief executive officer of Allied Savings Bank. "We now have a total of five wholesale mortgage lending offices in Sacramento, San Jose, Santa Rosa, Fresno and San Ramon. We expect to see further increases in originations as the Fresno and San Ramon offices, opened in June and July, respectively, become fully operational."
 Allied Savings also operates three retail mortgage 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- 10/5/93
 /CONTACT: Doug Sherk or Jenifer Kirtland, 415-296-7383, or Michele Katz, 212-850-5600, all of Morgen-Walke Associates for Redwood Empire Bancorp/
 (REB)


CO: Redwood Empire Bancorp ST: California IN: FIN SU:

LH-RB -- SF001 -- 8639 10/05/93 06:30 EDT
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Publication:PR Newswire
Date:Oct 5, 1993
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