Redwood Financial, Inc. First Quarter Earnings And Announcement of 5% Stock Repurchase Program

Redwood Financial, Inc. First Quarter Earnings And Announcement of 5% Stock
Repurchase Program 


REDWOOD FALLS, Minn., Nov. 19  /PRNewswire/ -- Redwood Financial, Inc. (OTC Pink
Sheets: REDW) (the "Company"), the parent holding company of HomeTown Bank has
announced net earnings for the first fiscal quarter ended September 30, 2003.  
For the three months ended September 30, 2003, the Company recorded net earnings
of $161,424.  Basic and diluted earnings per share were $0.32 per share, and
$0.29 per share, respectively. Comparatively, for the three months ended
September 30, 2002, the Company recorded net earnings of $147,100.  Basic and
diluted earnings per share were $0.28 per share, and $0.27 per share,
respectively.

At September 30, 2003, the Company reported total consolidated assets and
consolidated stockholders' equity of $80.8 million and $9.6 million,
respectively.  HomeTown Bank is headquartered in Redwood Falls, Minnesota and
operates through its main office in Redwood Falls and its branch offices located
in Redwood Falls and Olivia, Minnesota.  The Bank's deposits are insured up to
maximum legal limits by the Federal Deposit Insurance Corporation (FDIC).

In addition, the Company further announces its intention to repurchase shares of
the Company's common stock.  Mr. Paul W. Pryor, President, said the Company has
been authorized by the Board of Directors to repurchase up to 25,930 shares
(approximately 5% of its currently outstanding shares) of common stock. 

DATASOURCE: Redwood Financial, Inc.



CONTACT:  Paul W. Pryor of Redwood Financial, Inc., [phone], or

fax: [phone]



Web site:  http://www.redwoodfinancial.com/ 

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