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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: September 27, 2000
REDWOOD EMPIRE BANCORP
(Exact number of Registrant as specified in its charter)
California File No. 0-19231 68-016636
(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 on the following articles:
1. Redwood Empire Bancorp announces no new share repurchase authorization and
the successful launch of its internet banking product.
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.
9-27-00
Date: ___________________ REDWOOD EMPIRE BANCORP
(Registrant)
/s/ James E. Beckwith
By:
James E. Beckwith
Executive Vice President and
Chief Operating Officer
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FOR: REDWOOD EMPIRE BANCORP
APPROVED BY: James E. Beckwith
Chief Operating Officer
(707) 522-5215
For Immediate Release
REDWOOD EMPIRE BANCORP ANNOUNCES NO NEW SHARE REPURCHASE AUTHORIZATION
AND THE SUCCESSFUL LAUNCH OF ITS INTERNET BANKING PRODUCT
SANTA ROSA, Calif. (September 25, 2000) -- Redwood Empire Bancorp (NASDAQ: REBC)
today announced its Board of Directors did not approve a new share repurchase
authorization. In making its decision the Company's Board of Directors cited
capital retention to support future earning asset growth as its principal reason
to terminate the program. Since inception of the program in late 1998, the
Company has purchased 638,875 shares at an average cost of $20.04 per share.
In an unrelated matter the Company today announced that the launch of its
internet banking product, NBROnline Banking has proven to be very successful. To
date, the company has over 250 online banking customers. "We expect that by year
end we could have up to 1,000 small businesses and consumers as online banking
customers," noted Chief Operating Officer James E. Beckwith.
Redwood Empire Bancorp is the holding company for National Bank of the
Redwoods, a commercial bank. The Company operates through branches in Sonoma,
Mendocino and Lake Counties.
The statements contained in this release, which are not historical facts,
are forward-looking statements that are subject to risks and uncertainties.
Actual results may differ materially from those set forth in or implied by
forward-looking statements. These risks are described in the Company's
Securities and Exchange Commission filings.
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