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REDWOOD EMPIRE BANCORP INITIATES QUARTERLY CASH DIVIDEND; DECLARES THREE-PERCENT STOCK DIVIDEND

 REDWOOD EMPIRE BANCORP INITIATES QUARTERLY CASH DIVIDEND;
 DECLARES THREE-PERCENT STOCK DIVIDEND
 SANTA ROSA, Calif., Oct. 6 /PRNewswire/ -- The board of directors of Redwood Empire Bancorp (AMEX: REB) today announced that it had declared a three-cents-per-share quarterly cash dividend. It also declared an annual three-percent stock dividend.
 Both the cash and stock dividends will be paid on Jan. 4, 1993, to shareholders of record on Dec. 7, 1992.
 "This is Redwood Empire Bancorp's first cash dividend," said John H. Downey, Jr., chairman of the board. "It reflects the confidence management has in the financial strength and future growth of the company. In addition, we are pleased to declare our third annual stock dividend of three percent."
 Redwood Empire Bancorp is the holding company for two operating subsidiaries: Allied Savings Bank, F.S.B., a savings bank, and National Bank of the Redwoods, a commercial bank. With $250 million in assets, the company operates throughout Northern California.
 -0- 10/6/92
 /CONTACT: Doug Sherk or Jenifer Kirtland of Morgen-Walke Associates, 415-296-7383 or David Walke or Miriam Adler of Morgen-Walke Associates, 212-986-5900/ CO: Redwood Empire Bancorp ST: California IN: FIN SU: DIV


SG-GT -- SF003 -- 6859 10/06/92 06:30 EDT
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Publication:PR Newswire
Date:Oct 6, 1992
Words:198
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