Mutual Ownership Delivers Client Focus

FIRST NATIONAL BANK OF LITCHFIELD CONVERTS TO COCC

AVON, Conn., February 28, 2007 – COCC, the region’s leading provider of next generation technology services for financial institutions, today announced that First National Bank of Litchfield has converted to the company’s advanced technology platform. The $500M bank headquartered in Litchfield, Conn. is taking full advantage its technology partnership with COCC to meet its strategic growth goals.

“We have strong expectations after growing the bank’s assets by 46% over the past three years,” said Joseph Greco, President and CEO, First National Bank of Litchfield. “Only days after our conversion, COCC’s next generation technology has increased our efficiency, improved our ability to understand our customers, and given us greater flexibility to meet our customers’ needs. At the same time, COCC’s mutual ownership structure ensures that the company will maintain its sharp focus on supporting the bank’s growth strategies going forward.”

The conversion to COCC’s open technology has reduced the number of computer systems used by the bank from three to one, simplifying staff training and delivering a more uniform and comprehensive customer experience. The new system also includes prompts to bank employees to offer the “next best product” tailored to that customer’s specific needs. Employee sales and referrals are reported automatically for incentive compensation.

“This type of intelligence and automation will definitely help us reach our strategic growth goals,” said Mr. Greco. “COCC’s Marketing and CRM technology is miles ahead of the legacy systems. We now have a better understanding of who is using our products and how they are being used. This will help us promote our products and serve our customers more effectively.”

The bank has gained similar advantages from COCC’s imaging technologies. Electronic forms have enabled First National Bank of Litchfield to eliminate paper and keep current with the latest regulatory requirements. Check imaging exchange technology has virtually eliminated courier runs between branches and increased funds availability through faster collection. Electronic statements are reducing postage costs while directing customers to the Internet for more cost-effective and secure services.

“We are leveraging the latest technologies to give us greater efficiencies,” said Joelene Smith, Senior Vice President – Operations, First National Bank of Litchfield. “The old legacy systems simply can’t keep up with the speed and flexibility of COCC’s state-of-the-art technology and innovation.”

Ms. Smith added that COCC’s approach to regulatory compliance is particularly refreshing, especially in response to recent regulatory insistence on automated systems to detect money laundering activity and prevent identity theft.

“We can see how COCC’s open technology makes it easy to add functionality like anti-money laundering,” said Ms. Smith. “Add to that COCC’s network security specialists and their Internet security products and we have a real technology powerhouse behind our compliance activities.”

Ms. Smith added that COCC’s streamlined platform has also helped the bank leverage its processes and better utilize its human resources. “Because we use the same account platform throughout the bank, our staff can carry their knowledge from one area to another,” said Smith. “That’s part of the reason why we expect to save at least 20% in information technology related expenses as a result of our conversion to COCC.”

The conversion process itself was highly organized and on target. “Meetings, training sessions, and immediate follow-up gave us a high degree of confidence with the process,” said Mr. Greco. “Our staff reports that COCC’s specialists are great to work with, easy to approach, and deliver complete and prompt answers to questions.”

“It’s clear that COCC’s primary motive is service, and profits are invested in service enhancements so that clients can reap the benefits,” said Greco. “During the system search process, we could see that COCC would deliver the benefits of system integration plus the partner relationship we wanted. The conversion process proved it.”

COCC’s President and CEO, Richard A Leone, added, “COCC is committed to supporting First National Bank of Litchfield’s growth and efficiency strategies with superior products and top quality service. We have the technology, the staff, the structure, and the spirit to exceed the bank’s expectations for years to come.”