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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 25, 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 quarterly dividend increase to 15 cents.
2. Completion of Redwood's 5% share repurchase announced on November 22, 1999
and authorization for the repurchase of an additional 10% of the Company's
total shares outstanding or 316,000 shares.
3. Announcement of changes in Holding Company and Subsidiary Chairmanships.
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.
5-25-00
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 A 50% INCREASE
OF ITS QUARTERLY DIVIDEND TO $.15 PER SHARE
SANTA ROSA, Calif. (May 17, 2000) -- Redwood Empire Bancorp (NASDAQ: REBC) today
announced that its Board of Directors has declared a quarterly cash dividend of
fifteen cents per share on the Company's Common Stock. This dividend declaration
represents an increase dividend of 50%. The dividend is payable on July 17, 2000
to shareholders of record on June 30, 2000.
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.
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FOR: REDWOOD EMPIRE BANCORP
APPROVED BY: James Beckwith
Chief Operating Officer
(707) 522-5215
For Immediate Release
REDWOOD EMPIRE BANCORP ANNOUNCES COMPLETION OF ITS 5% SHARE REPURCHASE
AND AUTHORIZATION OF AN ADDITIONAL 10% SHARE REPURCHASE
SANTA ROSA, Calif. (May 17, 2000) -- Redwood Empire Bancorp (NASDAQ: REBC) today
announced that it has completed its 5% share repurchase announced on November
22, 1999. Under this repurchase, the Company bought a total of 150,000 shares at
an average price of $18.38 per share. In addition, the Board of Directors has
authorized the repurchase of an additional 10% of the Company's total shares
outstanding or 316,000 shares. Under the repurchase program, the Company plans
to purchase shares from time to time on the open market or through privately
negotiated transactions.
"We believe that shares of Redwood Empire currently represent a compelling
value, and that this repurchase program provides the opportunity to enhance
returns on capital and increased earnings per share over the long-term," said
James Beckwith, Chief Operating Officer 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 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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FOR: REDWOOD EMPIRE BANCORP
APPROVED BY: James E. Beckwith
Chief Operating Officer
(707) 522-5215
For Immediate Release
REDWOOD EMPIRE BANCORP CHAIRMAN ANNOUNCEMENTS
SANTA ROSA, Calif. (May 17, 2000) -- Redwood Empire Bancorp (NASDAQ: REBC) today
announced that Tom D. Whitaker has retired from the Board of Directors of the
Redwood Empire Bancorp and National Bank of the Redwoods. The Board of Directors
appointed Patrick W. Kilkenny to fill the Chairman position at National Bank of
the Redwoods. Mr. Kilkenny has been with the Bank since 1985 and is the founding
President and CEO. Gregory J. Smith was appointed Chairman of Redwood Empire
Bancorp. Mr. Smith serves as Managing Principal of Larson Allen Financial, LLC,
an investment banking firm and licensed broker/dealer located in Minneapolis,
Minnesota. Mr. Smith has 25 years of experience in all areas of investment
banking as well as various management positions, and was appointed as Director
to Redwood in December 1999. Mr. Smith has held several positions as Chairman in
various community banking companies throughout the United States.
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.
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