HBLS BANK SELECTS COCC FOR TECHNOLOGY PARTNERSHIP

AVON, Conn. June 21, 2005 — COCC, a mutually-owned provider of next generation technology services for financial institutions, today announced that HBLS Bank has agreed to a data processing partnership. As one of Ohio’s fastest growing banks in the past few years, HBLS Bank selected COCC as the best partner to support its new image as a progressive, growing organization.

“We are excited about our partnership with COCC,” said HBLS Bank’s President and CEO, Jamie R. Shinabarger. “We were impressed by the breadth and quality of COCC’s solutions as well as its ability to integrate them into a cost-effective service platform. COCC’s comprehensive suite of advanced technology solutions and outstanding support are the right combination to take our bank forward.”

Under the terms of today’s agreement, HBLS Bank will use COCC’s account processing, image capture and exchange services, electronic banking, secure Internet services, Oracle^® Financials and disaster recovery services. All of these solutions utilize next generation, open architecture for maximum integration and efficiency.

“COCC has already moved from legacy mainframe to open architecture,” said Shinabarger. “Everybody else has to make the same move eventually. We decided to go with the only company that has the experience of converting its entire client base to open systems and to making those systems work in an outsourced environment.”

Open architecture throughout a bank’s technology infrastructure is key to its continued success. Once in place, systems such as anti-money laundering and fraud prevention can be added easily. Open architecture eliminates the need for institutions to ‘bolt on’ additional middleware solutions to accommodate the new functions, which is why cost-effective, rapid service deployment strategies begin with an open core platform. 

“COCC is one of the fastest growing data processors in our area because of their integrated service delivery and their cooperative ownership structure,” said Shinabarger. “We like the fact that COCC is client-owned. In these days of mergers, it’s comforting to know that the company’s future direction is decided by the people who use its services.”

HBLS Bank has also grown rapidly in the past two years when its assets increased by 20%. Shinabarger said “We are in the process of changing from an extremely conservative bank to a more progressive financial institution. Our market is very competitive, so we need the technology.”

Shinabarger added that the bank didn’t want relationships with a crowd of vendors. “COCC’s service is superior,” he said. “The product is complete and flexible, particularly in the loan servicing area where a number of functions will be automated. COCC is committed to support through innovative programs such as shadow days and multi-level training. Even if another vendor matched COCC’s pricing, I would still go with COCC.”

The bank is also looking forward to operational efficiencies as a result of the change. Early cutover will be eliminated by COCC’s image capture and exchange, while the bank gains faster access to deposited funds.

“I’ve always had in mind that we shouldn’t convert just because of the technology,” Shinabarger said. “Rather, we should convert because we gain functionality.”

“Our company is absolutely thrilled to welcome HBLS Bank to our client community,” said COCC’s President and CEO, Richard A. Leone. “Today’s agreement brings next generation technology and service to an outstanding financial institution. We know that our partnership translates to growth for both organizations as well as outstanding financial services for the citizens of western Ohio.”