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DECEMBER MORTGAGE ORIGINATIONS RISE 120% AT ALLIED SAVINGS BANK

 SANTA ROSA, Calif., Jan. 3 /PRNewswire/ -- Redwood Empire Bancorp. (AMEX: REB) announced today that mortgage originations for the month of December at Allied Savings Bank, its wholly owned subsidiary, rose 120% from the level in December 1992. Originations in December 1993 were $202 million compared with $92 million in December last year. Originations for the full year 1993 totaled $1.9 billion compared with $836 million in 1992, an increase of 127%.
 Allied currently has five wholesale mortgage offices in Sacramento, San Jose, Santa Rosa, Fresno and San Ramon. The offices in Fresno and San Ramon opened in the summer of 1993. The company 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- 1/3/94
 /CONTACT: Doug Sherk or Jenifer Kirtland, 415-296-7383, or Sue Rodney or Stephanie Ferrell, 212-850-5600, all of Morgen-Walke Associates, for Redwood Empire Bancorp/
 (REB)


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

RB-LW -- SF006 -- 8364 01/03/94 06:30 EST
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Publication:PR Newswire
Date:Jan 3, 1994
Words:191
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