In a computer system, a parallel, distributed function lookaside buffer (TLB) includes a small, fast TLB and a second larger, but slower TLB. The two TLBs operate in parallel, with the small TLB receiving integer load data and the large TLB receiving other virtual address information. By distributing functions, such as load and store instructions, and integer and floating point instructions, between the two TLBs, the small TLB can operate with a low latency and avoid thrashing and similar problems while the larger TLB provides high bandwidth for memory intensive operations. This mechanism also provides a parallel store update and invalidation mechanism which is particularly useful for prevalidated cache tag designs.