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Bank of Santa Clarita Reports Record Pre-Tax Earnings

Northern Star Financial, Inc. Announces Agreement with Corporate Merchant Services, Inc.

Global High Income Fund Inc. – Fund Commentary

Washington Trust Announces “I Luv RI” Photo Contest Winner

Health Providers Across 40 Hospitals and 3,000 Physicians Join doxo

A.M. Best Assigns Ratings to Gateway Rivers Insurance Company

Global Debt Acquisition Company, LLC (GDR) Expands Leadership Team and Announces Expanded Role as CEO for Executive Chairman Mark Parsells

Robert L. Rosen Joins Sapient’s Board of Directors

Saks Fifth Avenue Forms Local Charitable Partnerships Nationwide

A.M. Best Affirms Ratings of Industrial Alliance Insurance and Financial Services, Inc. and Its Subsidiaries

Research and Markets: The 2011 Baltic E-Banking Report - Estonia

Research and Markets: The 2011 Baltic E-Banking Report - Lithuania

Research and Markets: The 2011 Baltic E-Banking Report - Latvia

Website Builder Yola Partners With Ecwid to Provide Drag-and-Drop E-Commerce Functionality to Yola Customers

ACCEL/Exchange Payments Network from Fiserv Again Breaks Transaction and Growth Records for the Year

Fri, 03 Feb 2012 20:45:02 -0500

Bank of Santa Clarita (OTCBB: BSCA) today announced record pre-tax earnings and strong loan growth for 2011.

Bank of Santa Clarita, the only commercial bank headquartered in the Santa Clarita Valley, reported net earnings for the fourth quarter of 2011 totaling $223,000 as compared to $104,000 for the fourth quarter of 2010. The Bank also reported a $418,000 growth in pre-tax earnings, which totaled $380,000 for the fourth quarter of 2011, as compared to pre-tax loss of $38,000 for the fourth quarters of 2010. Net earnings for the Bank totaled $381,000 and $569,000 for the years ended December 31, 2011 and 2010, respectively, while pre-tax earnings totaled $613,000 and $267,000, respectively, for those two years. As announced in the second quarter of 2011, the Bank initiated certain facilities-related transactions which are designed to provide for efficient and productive facilities supporting the Bank’s operations and likely growth in those operations for the foreseeable future. The facilities plan transactions included the early termination of the lease on our former headquarters facility, which resulted in an expense of $250,000 for the early-termination fee, which was recorded during the second quarter of 2011. The significant factors which generated our operating results are described below.

Net Interest Income: The Bank reported $6.63 million of net interest income for the year ended December 31, 2011, as compared to the $5.98 million reported for the year 2010. This growth was the result of an increase in the net margin from 3.48% in 2011 from 3.31% in 2010, which improvement was largely driven by a significant reduction in the cost of deposits, as the Bank has seen the average cost of deposits for 2011 decline to 1.04%, from 1.48% for 2010.

During 2011 the Bank experienced growth in its loan portfolio, as net loan balances totaled $135.5 million at December 31, 2011, as compared to $128.3 million at December 31, 2010, reflecting growth of $7.2 million or 6%.

Noninterest Expense: The Bank experienced an increase in total noninterest expenses, from $6.22 million in 2010 to $6.63 million in 2011; this $416,000 increase resulted from several factors, the most significant of which was the $250,000 related to the cost of terminating a facilities lease, as described above.

Income Tax Expense (Benefit): The Bank reported $232,000 of income tax expense during the year ended December 31, 2011, as compared to a $302,000 income tax benefit reported for 2010. The tax benefit in 2010 primarily resulted from the Bank’s recognition in 2010 (and in 2008 and 2009) of all of the income tax benefits relating to pre-tax losses reported in the initial four years of the Bank’s operations (2004 – 2007), for which no income tax benefits had then been recorded. Such income tax benefits reported amounted to $417,000 during 2010 and $0 in 2011, as the entire amount of the initial years’ income tax benefits was recorded during 2008 through 2010.

“We are very pleased with our operating results, as the Bank reported a record level of pre-tax earnings, an improvement in our net interest margin, and continuing excellent asset quality, with no charge-offs in 2011 and nonaccrual loans totaling only $16,000 at December 31, 2011. Moreover, considering the second quarter charge we took resulting from our decision to exercise our option to terminate early a lease on one of our facilities, the Bank’s core profitability has improved. Our facilities-related decisions will have the effects of providing both substantial cost savings over the next three years and also the physical space needed to accommodate our growth for the future,” said James D. Hicken, President and Chief Executive Officer. Mr. Hicken added, “We feel the Bank continues to be well positioned for the current environment, and we remain focused on our traditional core values which have guided us well through these challenging times.”

Frank Di Tomaso, Executive Chairman of the Bank, commented that, "2011 represented a challenging yet exciting year for the Bank. We moved into our new headquarters office, consolidated a branch office and eliminated an expensive building lease; moreover, we have seen growth in loans and significantly decreased our cost of deposits. As we now look to 2012 with great excitement, we believe that we are well-positioned to continue our loan and deposit growth by providing high quality service to our local community.”

At December 31, 2011, shareholders’ equity totaled $20.8 million and the Bank’s total risk-based regulatory capital ratio was 15.15%, exceeding the “well-capitalized” level of 10% which is prescribed in applicable capital regulations. The Bank also continues to maintain substantial liquidity positions, retaining significant balances of liquidity on its balance sheet as well as readily available collateralized borrowings and other potential sources of liquidity.

Bank of Santa Clarita, founded in 2004, is the only independent, full service commercial bank headquartered in the Santa Clarita Valley and generally serves the needs of retail consumers, small to mid-sized businesses, professionals, entrepreneurs, and high-net worth individuals. The Bank provides local, experienced decision-making and the personalized service that growing businesses need on a daily basis. Bank clients have direct access to executive management and professional staff members to address their SBA and other credit requirements, and also technology-based services that include online bill-paying, remote capture depositing, check imaging and initiating online wire transfers, among other cash management facilities, which services enable its clients to effectively and efficiently manage their cash and credit needs.

FORWARD LOOKING STATEMENTS

Certain matters discussed in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to the Bank’s current expectations regarding deposit and loan growth, operating results and the strength of the local economy. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results, performance or achievements to differ materially from those expressed, suggested or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to: the impact of changes in interest rates, a decline in economic conditions and increased competition among financial service providers as these factors may impact the Bank’s operating results, its ability to attract deposit and loan customers, the quality of the Bank’s earning assets and government regulation. The Bank does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements.

BANK OF SANTA CLARITA


BALANCE SHEETS
Unaudited

		December 31,		December 31,
		2011		2010
	(In thousands)
ASSETS
Cash and Due From Banks	$	4,033	$	1,692
Interest Bearing Deposits with Other Financial Institutions		22,928		22,199
Federal Funds Sold		1,855		2,237
Investment Securities		32,757		43,288
Loans (Net)		135,480		128,312
Other Assets		11,433		11,245
Total Assets	$	208,486	$	208,973


LIABILITIES AND STOCKHOLDERS' EQUITY
Noninterest Bearing Demand Deposits	$	43,308		40,346
Interest Bearing Demand Deposits		7,493		6,998
Money Market and Savings Deposits		34,087		30,722
Time Deposits		65,643		74,128
Total Deposits		150,531		152,194
Borrowings		36,500		35,750
Other Liabilities		698		828
Total Liabilities		187,729		188,772
Stockholders' Equity		20,757		20,201
Total Liabilities & Stockholders' Equity	$	208,486	$	208,973

STATEMENTS OF EARNINGS
Unaudited

	For the Three Months Ended December 31,						For the Twelve Months Ended December 31,
	2011			2010			2011		2010
	(In thousands except per share amounts)
Interest Income
Loans	$	1,943		$	1,804		$	7,664	$	7,323
Interest Bearing Deposits with Other Financial Institutions		20			19			73		98
Investment Securities		252			306			1,086		1,114
Federal Funds Sold		-			1			2		4
Total Interest Income		2,215			2,130			8,825		8,539
Interest Expense
Interest Bearing Demand Deposits		7			8			27		33
Money Market and Savings Accounts		46			58			206		223
Time Deposits		284			410			1,305		1,634
Borrowings		160			169			652		672
Total Interest Expense		497			645			2,190		2,562

Net Interest Income		1,718			1,485			6,635		5,977
Provision for Loan Losses		(66	)		89			50		125
Net Interest Income after
Provision for Loan Losses		1,784			1,396			6,585		5,852
Noninterest Income		136			125			659		630
Noninterest Expense		1,540			1,559			6,631		6,215

Net Earnings (Loss) Before Income Taxes		380			(38	)		613		267
Income Tax Expense (Benefit)		157			(142	)		232		(302	)
Net Earnings	$	223		$	104		$	381	$	569

Basic and Diluted Earnings Per Share	$	0.10		$	0.05		$	0.17	$	0.26

Fri, 03 Feb 2012 17:15:03 -0500

Northern Star Financial, Inc. (OTCBB: NSBK) Northern Star Financial, Inc., the parent company of Northern Star Bank, the Company announced today that it has entered into a agreement with Corporate Merchant Services Inc. who has tendered an offer to acquire fifty-one percent of Northern Star Financial, Inc. (the “Company”). Terms of the deal were not disclosed. The offer is subject to regulatory approval.

Northern Star’s President and Chief Executive Officer, Thomas Stienessen said the proceeds from the offering will be used to fund internal growth at the Company's banking subsidiary, Northern Star Bank. "We are very pleased to have reached this agreement", Stienessen said. “We believe the organization will benefit from expanded services and a more diversified stream of revenue as well as from the managerial resources, clients, products, services and capital the CMS investment brings.”

"We are very excited about the opportunity with Northern Star," said John Gerena, the founder and Chief Executive Officer of Corporate Merchant Services. "We look forward to becoming part of Northern Star Financial, Inc. We believe the investment provides us to the opportunity to grow together while benefiting our clients, and shareholders. This is a natural fit for both companies and will help us contribute to the bank's capital, growth and earnings and raise the bank’s and CMS’ visibility in the marketplace with an expanded menu of products and services.”

Corporate Merchant Services, Inc. is engaged in the business of electronic payment processing which includes: processing and settlement of credit cards, debit cards, gift cards & check transactions. This is also known as “Merchant Services”, which includes the deployment of equipment and technology software for processing of cards and check transactions. The Company’s focus is on low risk, high growth markets such as: Supermarkets, Restaurants, Medical Offices, Internet, Gas Stations, Convenience Stores, Hotels, Motels, Resorts, Franchises and Small to Medium Size Business.

Northern Star Financial, Inc. operates as a bank holding company whose subsidiary provides financial services. Northern Star Bank’s business is that of a financial intermediary and consists primarily of attracting deposits from the general public and using such deposits, together with borrowings and other funds, to make secured and unsecured loans to business and professional concerns and mortgage loans secured by residential real estate and other consumer loans. The Bank operates two full-service offices that are located in Mankato and St. Cloud, Minnesota.

THIS PRESS RELEASE CONTAINS FORWARD-LOOKING INFORMATION AND ACTUAL RESULTS MAY DIFFER.

Statements that Northern Star Financial may publish, including those in this announcement that are not strictly historical, are “forward-looking” statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may vary. Factors which could cause actual results to differ from these forward-looking statements include changes in the competitive marketplace, changes in the interest rate environment, economic conditions, outcome of pending litigation, risks associated with credit quality and other factors including without limitation statements relating to our businesses and our prospects, new products, sales, expenses, tax rates, cash flows, prepublication investments and operating and capital requirements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are intended to provide management’s current expectations or plans for our future operating and financial performance and are based on assumptions management believes are reasonable at the time they are made. Forward-looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may,” “will,” “continue” and other words of similar meaning in connection with a discussion of future operating or financial performance. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict; therefore, actual outcomes and results could differ materially from what is expected or forecasted. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Fri, 03 Feb 2012 17:15:02 -0500

Global High Income Fund Inc. (the "Fund") (NYSE: GHI) is a non-diversified, closed-end management investment company seeking high current income and, secondarily, capital appreciation through investments primarily in securities of emerging markets debt issuers.

Fund Commentary for the fourth quarter 2011 from UBS Global Asset Management (Americas) Inc. (“UBS Global AM”), the Fund’s investment advisor

Market Review

During the fourth quarter, US dollar-denominated emerging markets debt, as measured by the JP Morgan Emerging Markets Bond Index Global (EMBI Global), posted a return of 5.12%. Local market investments (in other words, emerging markets debt denominated in the currency of the issuer) posted weaker results, finishing the quarter with a return of approximately 0.48%, as measured by the JP Morgan Government Bond Index-Emerging Markets Global Diversified (GBI-EM Global Diversified).

After a negative third quarter, October saw a rally in higher risk assets as somewhat less risk-averse investors began searching for yield. US dollar-denominated emerging markets debt spreads tightened significantly in October.¹ However, with growing concerns about the ability of European institutions to solve the sovereign debt crisis, investor confidence weakened in November. In addition, an increase in new issuance volume toward the end of the month weighed on the markets. The markets closed out the year with less liquidity, as December brought renewed concerns for the global economy, the banking sector and the situation in Europe.

Performance review

For the fourth quarter of 2011, the Fund posted a net asset value total return of 3.42%, and a market price total return of 4.72%. On a net asset value basis, the Fund outperformed its benchmark, the Global High Income Fund Index (the “Index”),²which returned 2.79% for the quarter.

During the quarter, the Fund's overweight exposures to high beta (high risk) countries such as Venezuela and Argentina were a positive for performance, as their US dollar-denominated bond spreads narrowed during the period. The Fund's allocation to quasi-sovereign bonds³also benefited results. Elsewhere, long duration in local currency-denominated bonds in Brazil and South Africa, as well as a short duration exposure in Hungary, were rewarded.

Currency exposures, overall, detracted from results. In particular, the Fund's exposures to the Brazilian real, Serbian dinar and Indian rupee were negative for performance. This more than offset the positive contributions from the Fund's underweight allocation to the Hungarian forint. Underweights to high quality US dollar-denominated bonds in Mexico, Panama and Uruguay were also not rewarded.

Outlook

Many emerging market countries are experiencing growth well above that of major developed markets. It is highly likely that the growth gap will at least continue, if not widen, in the coming year. This, and relatively low fiscal deficits, are favorable for debt dynamics in emerging markets relative to those in many developed markets. Volatility is likely to remain elevated in the near-term as a result of several macro issues and investor risk aversion. However, we continue to have a positive long-term outlook for emerging markets investments. In our view, demand for emerging markets bonds will be supported by investors’ search for higher-yielding securities, and strong sovereign and corporate balance sheets in emerging markets. Solid fundamental data—stable reserves, a more solid fiscal situation and lower indebtedness—are signs of such strengths, especially for sovereigns, quasi-sovereigns and currencies. Additionally, with global growth moderating, it is likely that developing country central banks will shift their focus from raising interest rates to lowering interest rates or keeping them at already low rates. This could also support the emerging markets debt asset class.

Disclaimers Regarding Fund Commentary - The Fund Commentary is intended to assist shareholders in understanding how the Fund performed during the period noted. Views and opinions were current as of the date of this press release. They are not guarantees of performance or investment results and should not be taken as investment advice. Investment decisions reflect a variety of factors, and the Fund and UBS Global AM reserve the right to change views about individual securities, sectors and markets at any time. As a result, the views expressed should not be relied upon as a forecast of the Fund’s future investment intent.

Past performance does not predict future performance. The return and value of an investment will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Any Fund net asset value ("NAV") returns cited in a Fund Commentary assume, for illustration only, that dividends and other distributions, if any, were reinvested at the NAV on the payable dates. Any Fund market price returns cited in a Fund Commentary assume that all dividends and other distributions, if any, were reinvested at prices obtained under the Fund's Dividend Reinvestment Plan. Returns for periods of less than one year have not been annualized. Returns do not reflect the deduction of taxes that a shareholder would pay on Fund dividends and other distributions, if any, or on the sale of Fund shares.

¹ Spreads” refers to differences between the yields paid on US Treasury bonds and other types of debt, such as emerging market bonds.

² Global High Income Fund Index is an unmanaged index compiled by the advisor, currently constructed as follows: 50% J.P. Morgan Emerging Markets Bond Index Global (EMBI Global) and 50% J.P. Morgan Government Bond Index-Emerging Markets Global Diversified (GBI-EM Global Diversified). Investors should note that indices do not reflect the deduction of fees and expenses.

³ Quasi-sovereign bonds are securities issued by entities supported by the local government.

Fri, 03 Feb 2012 17:00:03 -0500

The Washington Trust Company and RI Monthly today announced that Timothy Hiebert, of Providence, R.I., has been selected as the second winner of the I Luv RI’s 2012 photo contest. Hiebert’s stunning shot of the Providence River “I-Way” Bridge entitled, “Nocturne”, has been published in the February 2012 issue of Rhode Island Monthly Magazine.

Washington Trust's Jayne Poland, left, and Elizabeth B. Eckel, right, with I Luv RI photo contest winner Timothy Hiebert, center. (Photo: Business Wire)

“This month’s photo depicts the balance of the old and new Providence, showing the bright new Providence River Bridge contrasted against the silhouettes of the city’s historic industrial buildings. It truly represents our State’s rich history and the revitalization of our capital city,” said Elizabeth B. Eckel, Washington Trust Senior Vice President of Marketing.

"I shot 'Nocturne' during a winter walk from my Fox Point neighborhood across the old I-195 bridge in Providence, at a time when intrepid pedestrians could still roam on it at will and discover some of the best views in the city. The scene attracted me because it reflected at once the staid historic legacy and the pulsing youthful energy of Providence," said Hiebert.

Hiebert’s photograph was selected as the February winner from more than 600 contest entries. Submissions ranged from photos of Rhode Island’s beautiful coastline and the State’s historic landmarks, as well as Rhode Island people enjoying life in the Ocean State.

The “I Luv RI” photo contest is sponsored by Washington Trust in conjunction with Rhode Island Monthly. Photographers may enter by sending their favorite Rhode Island photo to: www.rimonthly.com/ILUVRI, or by visiting www.iluvri.com. Each month in 2012, a winning photo will be selected and published in Rhode Island Monthly magazine. Monthly photo winners also receive an “I Luv RI” gift basket full of Rhode Island items, and one of twelve special Rhode Island experiences, including stays at Rhode Island’s best resorts, such as Watch Hill’s Ocean House; The Chanler at Cliffwalk in Newport; the Harborside Inn or RI Hotel Manisses, on Block Island; or receive special VIP experiences at the Pawtucket Red Sox, the Providence Bruins, Trinity Repertory Company, Rhode Island Philharmonic, Roger Williams Park Zoo, Warwick Mall and Yawgoo Valley Ski Resort; or a ‘Cake A Month’ from Rhode Island’s own Gregg’s Restaurants.

To enter a photo in the contest, visit www.rimonthly.com/ILUVRI. For more information about I Luv RI, visit www.iluvri.com.

The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., a $3 billion corporation headquartered in Westerly, Rhode Island. Founded in 1800, Washington Trust is the oldest community bank in the nation and is the largest independent bank headquartered in Rhode Island. A state-chartered bank, Washington Trust offers a full range of financial services, including personal banking, commercial and small business banking, as well as wealth management and trust services through its offices located in Rhode Island, Massachusetts and Connecticut. Washington Trust has 18 branches throughout Rhode Island and Connecticut. The Corporation’s common stock trades on The NASDAQ Global Select® Stock Market under the symbol WASH. Web site address: www.washtrust.com.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50157060&lang=en

Fri, 03 Feb 2012 16:00:02 -0500

doxo, the all-in-one digital file cabinet and e-payment solution, today announced major healthcare provider systems (including hospitals, doctors, and outpatient centers) joined doxo to connect with their patients online and reduce the complexity associated with medical bills, payments, and paperwork. These healthcare providers together represent more than 40 hospitals and 3,000 physicians and include Saint Luke's Health System, Advocate Health Care and Advocate Medical Group, Novant Health, Northwestern Memorial Hospital, University of Illinois Medical Center, Rockford Health System, and Rush-Copley Medical Center.

Patients connect with their healthcare providers on doxo to securely receive, review, and manage their medical and insurance documents, and pay their medical bills, from their doxo digital file cabinet. In turn, hospitals, doctors, and insurance companies eliminate paper mail, speed payment for medical services, and simplify the overall experience for their patients and members.

"doxo brings unique benefits for healthcare, because its secure, private model is built for both small and large providers that send bills and other critical documents to its customers,” said Danielle Weber, SVP of Revenue Cycle at Novant Health in North Carolina. “This is especially crucial for healthcare, because hospital statements and insurance Explanation of Benefits (EOB) need to come together in order for the patient to understand their payment responsibility – doxo helps make this process easier."

"Our patients have to manage bills and documents not just from our hospitals and physicians, but also from their health insurance, and of course all the other providers in their lives. doxo complements our existing online payment process and makes it easier for our patients to manage their medical bills,” said Terry McCarthy, director, patient accounts for Advocate Health Care. “It's all about providing the most convenient way for our patients to receive documents and pay bills online."

Each time a patient connects, paper mail is turned off, and documents are thereafter delivered directly to the patient’s digital file cabinet. While every patient may have a different set of healthcare providers and insurance plans, doxo makes it possible to manage all the documents, bills, and payments in one place. doxo enables users to manage more than just bills – it's a place they can also keep notes on their treatment and import and organize other medical records. In addition, doxo users receive bills and important documents for all their other household accounts in the same place they manage their healthcare paperwork.

“Healthcare is one of the fastest growing areas of doxo’s business,” said John Talaga, VP at doxo. “The complexity of multiple provider bills, coupled with the associated health insurance EOB’s, is often difficult and confusing for the patient to manage and often results in increased inquiries, delayed payments, and added patient stress. doxo is designed to address these problems head on to reduce hassle and stress for patients and deliver strong savings to providers and payers.”

“The growing responsibility of the consumer portion of payments has placed an additional burden on providers’ offices to track collections and maintain their profitability. As the market moves forward, providers are getting savvier in adopting automated solutions that can help ease the burden of receiving post-adjudication payments from the consumers,” said Kunal Pandya, Senior Analyst, Health Insurance and Payments, Aite Group. “Additionally, it is increasingly important for consumers to manage their healthcare bills and move from a paper-based statement to an automated tool that would help to better manage and understand their expenses. In the next 24 months, we believe that solutions that cater to consumers, providers, and health plans alike will tend to prove to be valuable for all stakeholders involved.”

With doxo Connect, any healthcare provider can directly connect with patients in a matter of minutes, with no software or professional services required. doxo works for healthcare and health plan providers of all sizes, from the nation’s largest healthcare institutions to a local physician or dentist seeking to alleviate the hassle of paper bills for patients and get paid faster.

To learn more about delivering documents through the doxo network, visit www.doxo.com/for-providers/. To sign up for your own personal doxo account, visit www.doxo.com, or download the doxo mobile app doxo.com/iphone.

About doxo

doxo is the easiest way for businesses and customers to Connect and interact. doxo provides consumers a digital file cabinet that makes it simple to organize household accounts and store important documents from multiple providers all in one place. For businesses, joining doxo makes it easy to connect and interact with customers, deliver documents paperlessly, and get paid with doxoPAY. Every month thousands of customers and businesses are connecting and going paper-free on doxo, dramatically reducing payment, paper, and postage costs and eliminating environmental waste. doxo investors include top-tier venture firms Mohr Davidow Ventures, Sigma Partners, and Bezos Expeditions, the venture investment fund of Jeff Bezos. The company is led by executives from Qpass, Amazon and Microsoft, who have driven broad consumer adoption of new online services and processed billions of dollars in e-payment transactions. doxo has been recognized as a Red Herring Global Top 100 for 2011, a Best of the Web by NetBanker, American Business Awards New Product of the Year, and the 2011 AlwaysOn OnDemand Top 100 Private Companies. doxo is headquartered in Seattle, Washington. More information can be found at www.doxo.com. The doxo iPhone app is available at doxo.com/iphone.

Fri, 03 Feb 2012 15:15:02 -0500

A.M. Best Co. has assigned a financial strength rating of A-(Excellent) and an issuer credit rating of “a-” to Gateway Rivers Insurance Company (Gateway) (Burlington, VT). The outlook assigned to both ratings is stable.

The ratings and outlook reflect Gateway’s strong capitalization and conservative operating strategy. The ratings also consider the company’s critical role and favorable profile as part of the AT&T Inc. [NYSE: T] organization, as well as its excellent operating performance during the past five years, providing insurance coverage to subsidiaries of AT&T Inc. for certain property/casualty risks.

Partially offsetting these positive rating factors are Gateway’s relatively large limits to general and products liability and property lines of business. Nevertheless, A.M. Best recognizes the substantial financial resources of the AT&T Inc. organization.

Positive ratings actions could occur if there is a sustainable and long-term improvement in the operating performance and capital strength of Gateway and AT&T Inc. Conversely, negative rating actions could occur as a result of material operational and performance issues at both Gateway and AT&T Inc. Additionally, rating pressure would be likely if there were material adverse changes to the regulatory standards applicable to AT&T Inc. The potential for future acquisitions and the associated integration risks and company profile changes could lead to both positive and negative pressures on the ratings, depending on the acquisition details.

A.M. Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated in the United States and throughout the world.

For current Best’s Credit Ratings and independent data on the captive and alternative insurance market, please visit www.ambest.com/captive.

The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Key criteria utilized include: “Risk Management and the Rating Process for Insurance Companies”; “Understanding BCAR for Property/Casualty Insurers”; “The Treatment of Terrorism Risk in the Rating Evaluation”; and “Alternative Risk Transfer (ART).” Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Fri, 03 Feb 2012 14:00:02 -0500

Global Debt Registry (GDR) is pleased to announce Executive Chairman Mark Parsells will expand his role within the organization by assuming dual responsibilities as Executive Chairman and Chief Executive Officer. Mr. Parsells is a seasoned senior financial services executive having run multi-billion dollar divisions for Citigroup, American Express, and Bank One; a start-up for AIG, Prudential and Kemper; and an early-stage company backed by private equity firms Bain Capital Ventures and Goldman Sachs. Mr. Parsells said, “As we continue to broaden our focus in new and existing markets it was critical for me to assume a more hands-on role with the GDR senior leadership team. The CEO position establishes a clearly defined point of decision-making that will enable GDR to capitalize on existing opportunities and accelerate the development and delivery of new products and services.”

GDR is also pleased to announce William P. Morrison, Jr. will be joining the senior leadership team as Managing Director of Marketing and Business Development reporting directly to Mr. Parsells. Bill comes to GDR with more than 18 years of financial services background in credit cards and retail banking. He served in senior executive roles with MBNA across numerous operational and business development areas both domestically and internationally with his most recent role as Chief Executive Officer of MBNA Spain. Following Bill’s time with MBNA, he joined Bank of America where he was the National Sales Execution Executive for 6,100 retail branches. Bill recently worked with SallieMae responsible for implementing and directing all new product development, direct marketing and business development activities for a new credit card product.

Additionally, GDR is pleased to announce the addition of Nancy Hirschbach as SVP of Sales and Business Development for Global Debt Exchange and Global Debt Registry reporting directly to Mark Parsells. Nancy comes to GDR with more than 7 years of extensive debt sales experience in the ARM industry. Ms. Hirschbach formally worked as VP of Business Development with CMAX and specializes in structuring debts sales strategies, pricing models, contracts, and promoting and protecting name brands and building markets for debt sellers across multiple asset classes.

GDR also is pleased to announce David Mertz will be joining the senior leadership team as Managing Director of Compliance, Privacy, and Risk, reporting directly to Mark Parsells. David brings more than 25 years of experience with information technology and compliance, privacy, and risk management. Mr. Mertz recently was President of his own consulting firm specializing in compliance, security, and risk in the ARM industry.

About Global Debt Registry

Global Debt Registry was founded in 1996 and is backed by a $5 Billion private equity fund. GDR’s customizable, patent-pending platform provides a comprehensive Data Integrity, Chain of Title, and Turnkey Document Management solution to the Mortgage and Accounts Receivable Industries. Our mission is to deliver significant consumer protections as well as measurable ROI benefits to all of our clients. For more information about Global Debt Registry please visit www.globaldebtregistry.com or contact Denis Concannon, Public Relations at 781.413.0002 or at dconcannon@globaldebtregistry.com.

Fri, 03 Feb 2012 13:15:02 -0500

Sapient® (NASDAQ: SAPE) announced today that Robert L. Rosen has been elected to the company’s board of directors, effective February 1, 2012. Mr. Rosen will also serve on Sapient’s audit committee.

“We are extremely pleased to have someone with Rob’s broad business and financial experience join our board of directors,” said Alan J. Herrick, Sapient president and chief executive officer. “Rob joins at a time of tremendous growth and evolution at Sapient. His experience and insights will be assets to our board and management team.”

Mr. Rosen brings to the Sapient board over thirty years of diversified public and private investing experience. Mr. Rosen also has served as a member of the Board of Overseers of NYU’s Stern School of Business for more than a decade.

“Sapient is a unique company, and I am excited to have the opportunity to serve on its board,” said Rosen. “The company applies technology to create advantage for its clients at a time when technology is increasingly used to further a company’s brand position. SapientNitro develops brand-led multi-channel marketing and commerce solutions that strengthen relationships between its clients’ customers and their brands. Sapient Global Markets designs and implements strategic solutions to help market leaders in trading and risk management succeed in today’s global economy. Sapient is a leader in both of its core businesses and is well positioned for future growth.”

Currently, Mr. Rosen serves as director to the private debt group, Ares Capital Corporation (NASDAQ: ARCC), and as operating partner of Ares Management, a $50 billion diversified asset management company. In addition, he serves as managing partner to RLR Capital Partners, LP, which invests in the securities of publicly traded North American companies. Previously, Mr. Rosen served as CEO of RLR Partners, LLC, a private investment firm that concentrates on financial services, healthcare, media and investment management. In 1998, Mr. Rosen founded National Financial Partners (NYSE: NFP), an independent distributor of financial services to high net worth individuals and small to medium-sized corporations. In addition, Mr. Rosen has served in leadership positions at Damon Corporation and Shearson American Express.

About Sapient®

Sapient® is a global services company that helps clients transform in the areas of business, marketing, and technology. The company operates three divisions that enable clients to gain a competitive advantage and succeed in an increasingly digital world. SapientNitro, Sapient Global Markets and Sapient Government Services fuse insight, creativity and technology to drive innovation and to help clients navigate complex business problems. Our approach is the subject of case studies used by MBA programs at Harvard and Yale. The company has operations in North America, Europe, and Asia-Pacific. For more information, visit http://www.sapient.com.

Sapient is a registered service mark of Sapient Corporation.

Fri, 03 Feb 2012 12:30:02 -0500

This February, Saks Fifth Avenue will give 5% of all registered purchases made with a Saks Fifth Avenue credit card back to charity. The donations will benefit certain local organizations, keeping support within each Saks Fifth Avenue store’s immediate community. Saks Fifth Avenue has partnered with 194 charitable organizations nationwide.

“Saks Fifth Avenue is committed to our local communities. We appreciate our customers’ charitable involvement and look forward to giving back locally with this exciting and newly implemented national program,” Steve Sadove, Chairman and CEO, Saks Incorporated, said.

Customers may select which local charity from Saks Fifth Avenue’s roster they wish to allocate their 5% contribution. Registration is one simple step at point of sale linking the customer account with their chosen charity.

About Saks Fifth Avenue

Saks Fifth Avenue, one of the world’s preeminent specialty retailers, is renowned for its superlative American and international designer collections, its expertly edited assortment of handbags, shoes, , jewelry. cosmetics and gifts, and the first-rate fashion expertise and exemplary client service of its Associates. Today, Saks operates 46 full-line stores in 22 states, 2 licensed stores in the Middle East and 2 licensed stores in Mexico City, 61 Saks Fifth Avenue OFF 5TH stores and saks.com, the company’s online store.

Fri, 03 Feb 2012 12:00:02 -0500

A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a+” of Industrial Alliance Insurance and Financial Services Inc. (IA) (Quebec) (TSX: IAG) and its subsidiary, Industrial Alliance Pacific Insurance and Financial Services Inc. (IAP) (Vancouver, British Columbia). Additionally, A.M. Best has affirmed the existing debt ratings of IA and Industrial Alliance Capital Trust. (See below for a detailed listing of the debt ratings.)

Concurrently, A.M. Best has affirmed the FSR of A- (Excellent) and ICRs of “a-” of IA’s U.S. life insurance subsidiaries, IA American Life Insurance Company, (Atlanta, GA) American-Amicable Life Insurance Company of Texas, Pioneer Security Life Insurance Company, Pioneer American Insurance Company and Occidental Life Insurance Company of North Carolina (these companies are collectively known as the IA American Life Group). The outlook for all ratings is stable. All companies are domiciled in Waco, TX, unless otherwise specified.

The ratings of IA and IAP reflect their stable absolute and risk-adjusted capitalization, overall profitability and growing geographic diversity in the organization’s business. A.M. Best notes that IA has continued to report favorable capital levels, although its capital structure, which includes long-term debt and preferred shares, has recorded elevated financial leverage in recent years. Net income trends have been favorable, although recent results have been impacted by the sustained low interest rate environment and volatile equity markets. The ratings also recognize IA’s continued efforts to diversify its business profile and earnings stream through the IA American Life Group and other acquisitions.

Offsetting these positive rating factors is A.M. Best’s ongoing concern with IA’s continued exposure to equity market and interest rate volatility. The equity market exposure is largely through the organization’s mutual fund and segregated fund lines of business in Canada. This exposure makes the group susceptible to fluctuations in equity market performance, lower fee income from assets under management and administration, lower sales from its savings and investment products and the possibility for higher reserve charges. However, IA successfully implemented a dynamic hedging program for its new segregated fund products, which has performed well. A.M. Best also remains concerned about the group’s increased financial leverage in its capital structure and reduced coverage ratios, which remain lower than historical levels. Nevertheless, both measures are within the guidelines for the organization’s current rating level.

The ratings of the IA American Life Group recognize the support it has received from IA through capital contributions via a surplus note, several capital infusions and synergies from home office management of actuarial reserves and its investment portfolio. The ratings also acknowledge the experience IA has gained in the U.S. market through the acquisition of the American Amicable operations during 2010.

Partially offsetting these positive rating factors are IA American Life Group’s continued weak operating results due to the statutory strain from new business production, very high level of mortgage loans relative to capital, leverage in its capital structure and challenges over the long term to grow business in its core individual annuity and life markets due to limited scale. The IA American Life Group will continue to face challenges to gain market share in a highly competitive life and annuity insurance market in the United States, where it faces larger, more established players. While significant overall earnings have not yet materialized , A.M. Best expects that going forward, premium growth during 2011 and the reallocation of the investment portfolio will improve its operating results.

A.M. Best believes IA to be well positioned at its current rating level for the near to medium term. Key factors that could result in negative rating actions include a significant and sustained decline in IA’s risk-adjusted capitalization; investment losses or operating performance that does not meet A.M. Best’s expectations over a sustained period; or financial leverage and/or interest coverage that falls short of the guidelines for the current rating level.

The following debt rating has been assigned:

Industrial Alliance Insurance and Financial Services Inc.—
-- “a-” on CAD 250 million 4.75% subordinated debentures, due 2016

The following debt ratings have been affirmed:

Industrial Alliance Insurance and Financial Services Inc.—
-- “a-” on CAD 150 million 5.13% subordinated debentures, due 2019
-- “a-” on CAD 100 million 8.25% subordinated debentures, due 2019
-- “bbb+” on CAD 125 million 4.60% non-cumulative perpetual preferred shares, Series B
-- “bbb+” on CAD 100 million 6.20% non-cumulative perpetual preferred shares, Series C
-- “bbb+” on CAD 100 million 6.00% non-cumulative Class A preferred shares, Series E
-- “bbb+” on CAD 100 million 5.90% non-cumulative perpetual preferred shares, Series F

Industrial Alliance Capital Trust---
-- “bbb+” on CAD 150 million 5.714% trust securities Series A, due 2053

The following indicative ratings on securities available under the shelf registration have been affirmed:

Industrial Alliance Insurance and Financial Services Inc.—
-- “a” on senior unsecured debt
-- “a-” on subordinated debt
-- “bbb+” on preferred shares

The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Key criteria utilized include: “Risk Management and the Rating Process for Insurance Companies”; “Rating Members of Insurance Groups”; “Understanding BCAR for Life/Health Insurers”; “Equity Credit for Hybrid Securities”; and “A.M. Best’s Ratings & the Treatment of Debt.” Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Fri, 03 Feb 2012 09:30:02 -0500

Research and Markets(http://www.researchandmarkets.com/research/d65704/the_2011_baltic_e) has announced the addition of the "The 2011 Baltic E-Banking Report - Estonia" report to their offering.

The Baltic E-Banking Report analyses the functionality, usability and performance of the public websites and Internet Banking Systems (IBSs) by every Estonian retail bank from an external user's perspective.

It ranks the banks by a wide range of customer-experience related criteria, provides comments on best-practice examples and highlights areas where improvement is clearly needed. Aggregate rankings and benchmarks are provided both in the executive summary and at the end of the report.

With the public bank websites and Internet banking systems having overtaken the regular customer service branches and in certain cases even the ATMs in popularity, e-channels have been turned into the next arena for competitive battles.

To have a chance of winning those battles, a bank needs a clear understanding of how its Internet properties compare to those of rival banks at the moment, where it is leading and where it is lagging behind.

Key Topics Covered:

1. Introducing The Baltic E-Banking Report 2011

2. Goals of the study

3. What the report offers

4. Key definitions

5. General methodology

6. Subject of the research

7. Banks covered in the report

8. E-Banking Fees

9. Functionality

10. Mobile banking

11. Clarity

12. Convenience

13. Customer Service Responsiveness

14. Innovation

About the Authors

For more information visit http://www.researchandmarkets.com/research/d65704/the_2011_baltic_e

Fri, 03 Feb 2012 09:30:04 -0500

Research and Markets(http://www.researchandmarkets.com/research/726d32/the_2011_baltic_e) has announced the addition of the "The 2011 Baltic E-Banking Report - Lithuania" report to their offering.

The Baltic E-Banking Report analyses the functionality, usability and performance of the public websites and Internet Banking Systems (IBSs) by every Lithuanian retail bank from an external user's perspective.

Key Topics Covered:

1. Introducing The Baltic E-Banking Report 2011

2. Goals of the study

3. What the report offers

4. Key definitions

5. General methodology

6. Subject of the research

7. Banks covered in the report

8. E-Banking Fees

9. Functionality

10. Mobile banking

11. Clarity

12. Convenience

13. Customer Service Responsiveness

14. Innovation

For more information visit http://www.researchandmarkets.com/research/726d32/the_2011_baltic_e

Fri, 03 Feb 2012 09:15:02 -0500

Research and Markets(http://www.researchandmarkets.com/research/97e747/the_2011_baltic_e) has announced the addition of the "The 2011 Baltic E- Banking Report - Latvia" report to their offering.

The Baltic E-Banking Report analyses the functionality, usability and performance of the public websites and Internet Banking Systems (IBSs) by every Latvian retail bank from an external user's perspective.

Key Topics Covered:

1. Introducing The Baltic E-Banking Report 2011

2. Goals of the study

3. What the report offers

4. Key definitions

5. General methodology

6. Subject of the research

7. Banks covered in the report

8. E-Banking Fees

9. Functionality

10 Mobile banking

11. Clarity

12. Convenience

13. Customer Service Responsiveness

For more information visit http://www.researchandmarkets.com/research/97e747/the_2011_baltic_e

Fri, 03 Feb 2012 09:15:03 -0500

Ecwid, Inc., producer of the world’s first platform-neutral, drop-in store builder widget, announces a partnership with website builder Yola to provide its e-commerce solution to Yola’s customers.

Yola is a leading website builder that lets individuals and small businesses easily create websites with no technical expertise required. Yola’s Online Store package powered by Ecwid allows users to quickly create a store by setting it up in their Yola dashboard and dropping it into any page of a new or existing site. Yola has taken full advantage of Ecwid’s robust APIs to create a simple, all-in-one solution for a customer looking to create a website and start selling online.

“We believe building a website should be easy, but the end-result should also be full-featured and professional. Yola’s e-commerce solution needed to be easy-to-use, but also robust,” says Trevor Harries-Jones, Yola’s President and CEO. “Because Ecwid’s drop-in widget has a wide variety of features, our customers can now create an online store with rich functionality not available on any other website builder.”

Ecwid (www.ecwid.com) is based in Ulyanovsk, Russia, with offices in Mountain View, California and London, U.K. Yola (www.yola.com) is based in San Francisco, California.

“SMBs seek out website building services like Yola to help them deploy a professional website they can manage themselves, but most offer only a limited, even dumbed-down, e-commerce solution,” comments Ruslan R. Fazlyev, Ecwid’s founder and CEO. “Yola and Ecwid’s partnership breaks that mold. With its rich functionality and easy drop-in to any web or social page, Yola will stay well ahead of its customers e-commerce needs.”

Ecwid Partner Support: Ecwid’s latest version (v10) includes a wide range of new features including enhanced partner and affiliate program support. This includes new application program interface (API) options for partners allowing businesses to smoothly integrate Ecwid with their existing platforms. Web-hosters, site-builders and payment gateways can learn more at: www.ecwid.com/partners-program.html

Ecwid’s store builder, the first and only store builder made entirely in AJAX, is used by over 125,000 storefront customers in 174 countries, with over 40 percent of customers in the United States. Store owners can embed the Ajax-based Ecwid shopping cart regardless of device or browser type and without the need to install a Flash plug-in. Even non-technical users can add a store to any existing web, mobile or social network page in less than five minutes.

Ecwid’s widget accepts payments from all major payment systems such as PayPal, Google Checkout and Authorize.net.

About Ecwid

Ecwid offers a new approach to building an online store: a free, SaaS-based widget, compatible with any existing site and payment system, designed to be trouble-free and lightning-fast. Founded in 2009 by Ruslan R. Fazlyev, Ecwid won The Business Project 2010 startup contest sponsored by Google and Forbes Russia. Fazlyev’s first startup, X-Cart, was founded in 2000, producing the world’s first PHP store builder software. With no funding, X-Cart grew from a team of three students to 120 employees. Fazlyev has left X-Cart to commit his time fully to Ecwid.

About Yola

Yola is fast becoming the leading choice globally for a small business to create and grow an online presence by offering an easy-to-use, free website builder and innovative premium hosting and feature sets to its millions of customers worldwide. Privately-held Yola, backed by Reinet Fund, is the recipient of numerous industry accolades including Business Week’s 50 Best Tech Start-ups, The Industry Standard 100, and Fast Company’s Fast 50 Reader Favorites. The company is headquartered in San Francisco, CA. For additional information, please visit www.yola.com.

Ecwid is a trademark of Ecwid, Inc. All other trademarks or registered trademarks contained herein are the property of their respective owners.

Bank of Santa Clarita, Corporate Headquarters

23780 Magic Mountain Parkway

Santa Clarita, California 91355

(661) 362-6004

www.bankofsantaclarita.com

Fri, 03 Feb 2012 09:15:02 -0500

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that its ACCEL/Exchange^® payments network had another record-setting year, processing more than 1.5 billion transactions in 2011, an increase of nearly 29 percent over 2010. ACCEL/Exchange payments network from Fiserv is one of the fastest-growing payments networks in the industry, supplying the infrastructure for financial institutions to give cardholders around-the-clock access to their demand deposit account funds at ATMs and the point of sale.

ACCEL/Exchange also experienced record-setting volume in the fourth quarter and processed more than 151 million transactions in December 2011. Network membership increased by nearly 10 percent in 2011 bringing total membership to more than 3,000 financial institutions.

“2011 was another year of above-industry growth for the ACCEL/Exchange from Fiserv, which we take as a testament to the reliability and innovative nature of our network,” said David Keenan, general manager, Network Solutions, Fiserv. ”We continue to enhance the network to make it more valuable to our financial institution members, enabling them to provide their cardholders with secure payments and convenient funds access. In 2012 we have plans to add even more value to our member institutions with the introduction of mobile access and real-time access to funds for person-to-person (P2P) transactions.”

Throughout 2011 Fiserv also saw continued growth in its Member Advantage program, an innovative interchange program for members who choose ACCEL/Exchange as their exclusive PIN debit network plus subscribe to at least one additional Fiserv product or service. Members in the program have the opportunity to earn higher interchange rates and reduce overall expenses.

“More and more institutions are recognizing that the ACCEL/Exchange Member Advantage program is the best way to leverage their debit investment,” said Keenan. “With industry-leading financials, program optimization tools, loyalty rewards and integration with the unsurpassed assets of Fiserv, ACCEL/Exchange Member Advantage is the straight-forward way for financial institutions to strengthen the relationships with their customers while maximizing the return on their debit investment in an increasingly complex and competitive environment.”

Additional Resources:

ACCEL/Exchange - http://www.accelexchange.com/

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving the financial services industry. Fiserv is driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For six of the past eight years, Fiserv ranked No. 1 on the FinTech 100, an annual international listing of the top technology providers to the financial services industry. For more information, visit www.fiserv.com.

FISV-G