SANTA ROSA, Calif. - Redwood Empire Bancorp's Allied Bank subsidiary has sold $76.5 million of mortgage loans tied to the Federal Home Loan Bank's 11th District cost-of-funds index.

A subsidiary of Lehman Brothers was the buyer, and Lehman securitized $73.2 million of the loans into senior mortgage pass-through certificates and placed them in a real estate mortgage investment conduit trust.

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