8-K 1 0001.txt PRESS RELEASE =========================================================================== 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 =========================================================================== 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 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. # # # #