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UNITED STATES
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: May 12, 1998
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) 573-4800
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ITEM 5. OTHER EVENTS
Press releases for the following (article attached):
Redwood Empire Bancorp redeems its outstanding 7.8% Noncumulative
Convertible Perpetual Preferred Stock, Series A.
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.
5/12/98
Date: REDWOOD EMPIRE BANCORP
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(Registrant)
/s/ James E. Beckwith
By:
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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) 522-5215
CONTACT: Morgen-Walke Associates, Inc.
John Swenson, Micah Epps
(415) 296-7383
FOR IMMEDIATE RELEASE Sandra Badurina
(212) 850-5600
REDWOOD EMPIRE BANCORP REDEEMS OUTSTANDING PREFERRED STOCK
SANTA ROSA, Calif. (May 12, 1998)-- Redwood Empire Bancorp (AMEX: REB) today
announced that it has redeemed all of its outstanding 7.8% Noncumulative
Convertible Perpetual Preferred Stock, Series A (the "Preferred Stock"),
effective as of the close of business on April 30, 1998. As a result of this
process, the Company will redeem 1,710 shares of Preferred Stock at $10.39
per share. The balance of the 575,000 shares of the Preferred Stock which was
outstanding at the time that the Preferred Stock was called for redemption
has been converted into a total of 497,172 shares of the Company's common
stock.
"We are pleased with the results of the redemption and view completion
of this process as another step in improving shareholder value," said Tom
Whitaker, chairman of Redwood Empire Bancorp.
Redwood Empire Bancorp is the holding company for 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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