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REDWOOD EMPIRE BANCORP OPENS NEW WHOLESALE MORTGAGE OFFICE

 REDWOOD EMPIRE BANCORP OPENS NEW WHOLESALE MORTGAGE OFFICE
 SANTA ROSA, Calif., Aug. 17 /PRNewswire/ -- Redwood Empire Bancorp (AMEX: REB) today announced the opening of a new wholesale mortgage office in Santa Rosa, by Allied Savings Bank, its wholly owned savings bank. The office will serve the northern California market from Marin and Sonoma counties north to the Oregon border.
 Initially, the office will be staffed by six employees. Alison Fetherolf was appointed as the new operations manager, responsible for supervising the processing, underwriting and closing functions. John Gillien was named wholesale account representative with responsibility for broker liaison and marketing. Fetherolf and Gillien report to Martin McCormick, senior vice president and chief operating officer of Allied.
 "With this new office in Santa Rosa, we can serve the residential mortgage needs of customers throughout northern California," said Terance O'Mahoney, president and chief executive officer of Allied Savings Bank. "We are especially pleased that Alison and John have joined us. They bring extensive experience and an in-depth knowledge of wholesale mortgage lending operations in our marketplace. Furthermore, they have strong relationships with reputable mortgage brokers in the area."
 The new office in Santa Rosa complements Allied's two other wholesale residential lending offices in San Jose and Sacramento. In addition to its work with mortgage brokers, the company generates mortgage loans directly with customers through three retail residential lending offices in Ukiah, Santa Rosa and San Rafael.
 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 $255 million in assets, the company operates throughout Northern California.
 -0- 8/17/92
 /CONTACT: Terance O'Mahoney of Allied Savings Bank, 707-524-6200; or Doug Sherk or Jenifer Kirtland, 415-296-7383, or David Walke or Miriam Adler, 212-986-5900, all of Morgen-Walke Associates for Redwood Empire Bancorp/
 (REB) CO: Redwood Empire Bancorp; Allied Savings Bank ST: California IN: FIN SU: PDT


RM-BB -- SF001 -- 0323 08/17/92 07:32 EDT
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Publication:PR Newswire
Date:Aug 17, 1992
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