THIRD OHIO BANK SELECTS COCC FOR DATA PROCESSING

AVON, Conn., JULY 7, 2004 — High growth North Valley Bank of Zanesville, Ohio has agreed to partner with COCC for a full range of outsourced financial information technology services. North Valley is the third Ohio bank to select COCC for core processing services this year. The bank expects to continue its strong growth trend, starting with $17M in assets only six years ago and expanding to $120M today.

“A lot of data processing companies talk the talk but very few walk the walk,” said Carl Raines, North Valley Bank’s President. “COCC shares our bank’s philosophy about customers and service. Being customer-owned, COCC and North Valley Bank have a total focus on service quality and innovation. We look forward to expanding our service footprint with COCC.”

With three branches and a six year record of $15-20M growth per year, North Valley was looking for a tightly integrated, real time system organized around customers rather than accounts.

“We’re People People,” said Jess Raines, North Valley Bank’s Vice President and CFO. “Our focus is on the customer, and our system needs to show us the full customer relationship rather than each account. Real time information gives the customers access to their actual balances at any time. As we add electronic service channels, actual balances will be more important to our customers and to us.”

The bank plans on adding a number of service channels, starting with telephone banking at conversion and Internet banking plus cash management for small business in the first six months. The bank is also installing COCC’s Financial Management product, which Jess Raines says is the best financials package on the market.

“It’s all browser-based,” said Jess Raines. “By pointing and clicking, you can drill down from summary information to the detail items. It’s also tightly integrated with the other applications. Other processors use fancy middleware to make it look like the system’s integrated. COCC is an open system which drives integration from the core level.”

North Valley’s final selection of COCC hinged on a test by President and CEO, Carl Raines. He made five random phones calls to COCC’s staff, leaving the message, ‘This is Carl Raines, please call me back at ........’ Without leaving any further information to identify himself, every person that Carl called responded the same day. Raines said he was “amazed, impressed and very pleased.” He signed the service agreement shortly thereafter.

Raines added, “I have never seen our people so excited about a system conversion. They’re asking when training is going to start. They’re looking forward to deposit automation as a result of electronic forms. We are ready for big things with COCC.”

COCC’s President and CEO, Richard A. Leone, added, “COCC’s technology and commitment to the industry is built on a close relationship with each client. By applying next generation technology and support techniques to today’s banking challenges, North Valley will achieve and exceed its strategic growth and service objectives.”