BANKNEWPORT SELECTS COCC FOR COMPREHENSIVE TECHNOLOGY PARTNERSHIP

AVON, Conn., November 10, 2005 – Rhode Island-based BankNewport with $993 million in assets has selected COCC’s INSIGHT core processing system and integrated strategic products to meet its technology needs. The Bank views its comprehensive technology partnership with COCC as a catalyst for increasing efficiency and extending its service footprint in southeastern New England.

“COCC’s thorough integration of its comprehensive product set, combined with their complete customer focus, convinced us that we had found the right partner to continue our strong record of growth in southeastern New England,” said BankNewport’s President and CEO, Thomas W. Kelly. “We knew from the beginning that COCC shares our passion for customer service excellence. Our staff is eager for the change.”

In addition to the INSIGHT core processing platform, BankNewport selected COCC’s service bureau implementation of Oracle^® Financials, Branch Capture, Interaction Management Center (Advanced Call Center), Total Vision (CRM/business intelligence), e-Commerce Banker™ (Internet Banking). Digital Document Imaging, Secure Website Hosting, Internet Security, Anti-Money Laundering, and Disaster Recovery services.

Located in historic Newport, Rhode Island, BankNewport is the nation’s oldest mutual savings bank, first opened its doors for business in 1819. In the past ten years, BankNewport has increased its assets by more than 260% through listening, understanding, and responding to customers’ individual needs.

To make its technology decision, the Bank appointed 22 officers and staff members to a technology selection committee and very quickly pursued a comprehensive solution that would present a single picture of a customers’ portfolio.

“We were using a lot of silo solutions that didn’t communicate to each other,” said committee chair Colleen Medeiros, vice president – information technology. “With a change in our processing systems, we see an opportunity to continue BankNewport’s tradition of service, quality and innovation. We are excited by the prospect of greater growth through increased customer satisfaction.”

The bank estimates that its conversion to COCC will increase efficiency through workflow improvements throughout the organization, including basic processes such as monthly reporting. BankNewport’s Executive Vice President and CFO, Andrew C. Hewitt, expects to save two-three days using COCC’s Oracle^® Financials. “That’s only the beginning,” he said.

“The more intuitive approach employed by COCC’s implementation of Oracle^® Financials adds new dimensions to the information we circulate within the senior management team,” said Hewitt. “We can customize reports and report access, use common spreadsheet software to directly access the general ledger system, and drill down to any level of information we want. It’s apparent that COCC’s offering is more advanced, efficient and easier to use.”

Beyond the process improvements, BankNewport is looking forward to giving its customers an up-to-the-second balance at every touch point from teller to ATM to home banking. In the Bank’s back room, COCC’s fully integrated system will present a comprehensive view of the customer’s full relationship to authorized staff. That view is the result of COCC’s integrated technology and a new Interaction Management Center to be installed during the conversion. This browser-based, relationship management application assembles information from every area of the Bank, enabling employees to perform their daily tasks more efficiently, provide higher levels of service, and grow key customer relationships.

Another key area for BankNewport is check image processing. Executive Vice President and Chief Operating Officer, Sandra J. Pattie, said the Bank appreciated COCC’s extensive experience in the emerging image environment and is looking forward to the opportunities made possible by branch and remote image capture.

“With greater convenience and quicker customer access to their funds, branch capture will help us expand our market presence,” said Pattie. “COCC’s success as a branch capture and image exchange leader demonstrates the company’s advanced technology features. We will absolutely increase operational efficiencies and customer satisfaction, particularly as we add check images to our Internet Banking suite.”

Pattie added that COCC’s advanced technology is only one aspect of the partnership. “Each of the 22 people involved in our decision is passionate about their area of the Bank; we saw the same thing in the COCC people,” said Pattie. “They’re not just providing a service. They’re partnering with us to deliver excellence in financial services. This is a great combination of cultures.”

COCC’s President and CEO, Richard A. Leone, said that both organizations will enjoy long-term benefits as a result of today’s announcement. “We have forged more than a business arrangement between our organizations,” said Leone. “We have a relationship that will increase satisfaction and success for both our customers and our staffs.”

“COCC has worked very hard to integrate the best technologies available into a comprehensive, value-rich service offering,” Leone continued. “BankNewport saw both the depth of our service and the outstanding value of our passion for service excellence. For several years now, COCC has been the industry leader in client satisfaction, and our clients have profited greatly from our service initiatives. We know that our partnership with BankNewport will reward both organizations with further growth through superior service.”