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REDWOOD EMPIRE BANCORP RAISES QUARTERLY CASH DIVIDEND, DECLARES 3 PERCENT STOCK DIVIDEND AND DIVIDEND ON PREFERRED

 SANTA ROSA, Calif., Nov. 18 /PRNewswire/ -- Redwood Empire Bancorp (AMEX: REB) today announced that its board of directors has declared a 3.5 cent per share quarterly cash dividend. This represents a 17 percent increase from prior quarterly cash dividend payments of 3 cents per share. The dividend will be payable on Feb. 15, 1994, to shareholders of record on Jan. 31, 1994.
 The board of directors also declared an annual 3 percent stock dividend. The stock dividend is payable on Jan. 5, 1994, to shareholders of record on Dec. 22, 1993. This represents the company's fourth annual 3 percent stock dividend.
 Finally, the board declared a quarterly dividend on its 7.80 percent Noncumulative Convertible Perpetual Preferred Stock of 19.5 cents per share. This dividend is payable on Feb. 15, 1994, to shareholders of record on Jan. 31, 1994.
 Redwood Empire Bancorp is the holding company for two operating subsidiaries: National Bank of the Redwoods, a commercial bank, and Allied Savings Bank, F.S.B., a savings bank. The company operates throughout Northern and Central California.
 -0- 11/18/93
 /CONTACT: Doug Sherk or Jenifer Kirtland, 415-296-7383, or Michele Katz or Stephanie Ferrell, 212-850-5600, of Morgen-Walke Associates for Redwood Empire Bancorp/
 (REB)


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

LW-TM -- SF003 -- 5822 11/18/93 06:31 EST
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Publication:PR Newswire
Date:Nov 18, 1993
Words:223
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