NEW TRIPOLI BANK SELECTS COCC FOR COMPREHENSIVE TECHNOLOGY PARTNERSHIP

AVON, Conn., May 24, 2005 – COCC, a leading provider of next generation technology services for financial institutions, today announced that New Tripoli Bank will replace its in-house system with COCC’s comprehensive outsourced offering. Located in Pennsylvania’s Lehigh Valley, the $242M New Tripoli Bank is COCC’s first client institution in the state.

“The completeness of COCC’s product set, the quality of support, and the stability resulting from COCC’s cooperative ownership structure represent significant advantages to New Tripoli Bank,” said the bank’s president and CEO, David Hunsicker. “We wanted a technology partner whose commitment to service equaled our own. After checking with numerous COCC clients, we knew we had found a partner that is truly committed to support.”

Mr. Hunsicker explained that today’s banking technology vendors are merging faster than banks. “By contrast, COCC has offered its services under the same banner for 38 years,” he said. “COCC’s ratio of customer service staff  to clients is the highest anywhere in the industry, which is particularly important. We’re looking forward to concentrating on banking rather than IT.”

Under the terms of today’s agreement, New Tripoli Bank will replace its current in-house systems with COCC’s OSI-based account processing, check image processing, electronic banking, risk management, network management, Oracle^® Financials and integrated COLD services. All of these solutions utilize next generation, open architecture for maximum integration and efficiency.

“COCC gives us the ideal platform for every aspect of information technology,” said Robert Wenhold, Executive Vice President at New Tripoli Bank. “Open architecture is a prerequisite for success in today’s banking environment, and COCC has taken great advantage of it.”

Wenhold pointed out that COCC’s core solution is based on Open Solutions software which is both technologically current and actively supported by a strong customer support organization. Wenhold said that COCC’s open platform will enable New Tripoli Bank to offer the leading edge products and services that customers have come to expect.

“Beyond the technology, COCC’s support strategies are very strong at all levels,” said Wenhold. “The company’s “Power User” approach encourages client institutions to advance their staff skills to the highest levels and maintain them when staff changes. That’s an important factor in keeping competitive in today’s market.”

Wenhold said he was also impressed by the way COCC follows up on day-to-day processing issues. “With every person, there is a commitment to service,” said Wenhold. “It’s just a first class operation.”

Another factor in the bank’s decision is the surge in regulatory demands. Hunsicker said that his board has grown increasingly concerned about the cost of regulations such as the Bank Secrecy Act. Converting to COCC will automate a number of risk management tasks, particularly software patching and around-the-clock Internet monitoring. “Without COCC, the bank would have to hire two people just to stay up to date,” said Hunsicker.

Automation will further improve the bank’s proof and accounting areas where Hunsicker expects to move people out of mechanical functions to revenue enhancing activities.  Increased efficiency through automation will trim efforts to balance and produce reports while enabling the bank to take advantage of next generation capabilities with image exchange.

“Everywhere we looked, COCC offered solutions that reduced cost through technology innovation,” said Hunsicker. “It’s the culture of the company, driven by their cooperative ownership structure. With COCC, we have a voice in our data processing future, which is increasingly important to our business.”

COCC’s President and CEO, Richard A. Leone, echoed that sentiment. “Today’s financial institutions are more dependent than ever on technology, which is why COCC has worked so hard to integrate the best technologies available into a comprehensive, value-rich service offering. We know that our partnership with New Tripoli Bank will contribute to the growth of both organizations.”

Mr. Wenhold added that COCC is already getting a strong reception in Pennsylvania due to their advanced technology, their integrated service model, and their cooperative ownership structure. “We like the fact that COCC’s board is composed of bankers because we know that the company is less concerned with profits, and that surplus funds are invested in technology and support that directly benefit the banks,” he said.