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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 6, 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 receives approval to combine Allied Bank and
National Bank of the Redwoods subsidiaries.
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.
2-6-97
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 RECEIVES APPROVAL TO COMBINE
ALLIED BANK AND NATIONAL BANK OF THE REDWOODS SUBSIDIARIES
SANTA ROSA, Calif. (February 5, 1997) -- Redwood Empire Bancorp (AMEX: REB)
today announced that it has received approval from the Office of the Comptroller
of the Currency to combine its Allied Bank subsidiary into its National Bank of
the Redwoods subsidiary. The Company expects the merger to be consummated late
in the first quarter or early in the second quarter of this year.
"This is a significant milestone in our strategic plan to improve
shareholder value", said Tom Whitaker, Chairman of Redwood Empire Bancorp. "As I
stated in November when we announced the consolidation, this merger will allow
Redwood to achieve meaningful cost savings and to leverage common multiple
market and product strategies of the two organizations. The new Redwood Empire
Bancorp will be a market-driven banking franchise aimed at building our asset
base for long-term growth."
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 California locations Northern California.
