<PAGE>

                                Exhibit 12.2 

                  REDWOOD EMPIRE BANCORP AND SUBSIDIARIES 

             COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 
                  AND PREFERRED STOCK DIVIDEND REQUIREMENT 
                       (in thousands, except ratios) 

<TABLE>
<CAPTION>
                                                                     Year Ended
                                                                      December
                                                                        1998
                                                                     ----------
<S>                                                                  <C>
EXCLUDING INTEREST ON DEPOSITS 

Net income                                                              $5,091 
Taxes                                                                    2,102 
Other interest expense                                                   1,467 
                                                                     ----------

Earnings before taxes and fixed charges                                 $8,660 
                                                                     ----------
                                                                     ----------

Fixed charges per above                                                 $1,467 
Preferred stock dividends                                                  112 
                                                                     ----------

Fixed charges including preferred stock dividends                       $1,579 
                                                                     ----------
                                                                     ----------

Ratio of earnings to fixed charges and preferred stock 
  dividend requirements                                                   5.48 
                                                                     ----------
                                                                     ----------

INCLUDING INTEREST ON DEPOSITS 

Fixed charges, including preferred stock dividends                      $1,579 
Interest on deposits                                                    12,712 
                                                                     ----------

Total fixed charges and interest on deposits                           $14,291 
                                                                     ----------
                                                                     ----------

Earnings before taxes and fixed charges, per above                      $8,660 
Interest on deposits                                                    12,712 
                                                                     ----------

Total earnings before taxes, fixed charges and 
  interest on deposits                                                 $21,372 
                                                                     ----------
                                                                     ----------

Ratio of earnings to fixed charges                                        1.50 
                                                                     ----------
                                                                     ----------

Surplus                                                                 $7,081 
                                                                     ----------
                                                                     ----------
</TABLE>

The 1998 earnings are adequate to cover fixed charges by the amount noted 
above.