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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: February 19, 1997
REDWOOD EMPIRE BANCORP
(Exact number of Registrant as specified in its charter)
California File No. 0-19231 68-0166366
(State or other jurisdiction of (Commission File Number) (IRS Employer)
Incorporated or organization) Identification No.)
111 Santa Rosa Avenue, Santa Rosa, California 95404-4905
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (707) 545-9611
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Item 5. Other Events
Press release for the following (article attached):
Redwood Empire Bancorp announces management change at its Allied Bank
subsidiary.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
2-19-97
Date: ___________________ REDWOOD EMPIRE BANCORP
(Registrant)
By:__________________________
James E. Beckwith
Executive Vice President and
Chief Financial Officer
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FOR: REDWOOD EMPIRE BANCORP
APPROVED BY: James Beckwith
Chief Financial Officer
(707) 573-4988
CONTACT: Morgen-Walke Associates, Inc.
Doug Sherk, John Swenson, David Gennarelli
(415) 296-7383
For Immediate Release Emily Dupree, Joshua Passman
(212) 850-5600
REDWOOD EMPIRE BANCORP ANNOUNCES MANAGEMENT CHANGE AT
ITS ALLIED BANK SUBSIDIARY
SANTA ROSA, Calif. (February 8, 1997) -- Redwood Empire Bancorp (AMEX: REB)
today announced that Martin McCormick, 39, president and a board member of
Allied Bank F.S.B., has resigned to pursue other interests. Patrick W. Kilkenny,
in addition to his duties as chief executive officer of Allied, will assume the
responsibilities of Mr. McCormick. Allied Bank F.S.B. is a wholly owned
subsidiary of Redwood Empire Bancorp and is a sister company to National Bank of
the Redwoods. Redwood Empire Bancorp recently received regulatory approval to
merge its two operating subsidiaries: Allied Bank, F.S.B., a savings
institution, and National Bank of the Redwoods, a commercial bank.
In an unrelated matter, Redwood Empire Bancorp's Board of Directors is
seeking to bolster its sub-prime lending unit, Allied Diversified Credit.
"Allied's Diversified Credit unit will be an important strategic business unit
of the Company," said Tom Whitaker, Chairman of Redwood Empire Bancorp. "We
intend to provide this business unit, lead by division head, Steve Bowman, 35,
the resources necessary to fulfill its potential. With the recent announcement
of our consolidation approval, we continue to be excited about future prospects
for Redwood and increasing shareholder value."
Redwood Empire Bancorp is currently the holding company for two
operating subsidiaries: Allied Bank, F.S.B., a savings institution, and National
Bank of the Redwoods, a commercial bank. The Company operates through branches
and loan production offices in various Northern California locations.
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