SOURCE: Diligent Board Member Services

Diligent Board Member Services

October 21, 2010 09:46 ET

Diligent Boardbooks Board Portal Selected by Eight Banks in Q3

NEW YORK, NY--(Marketwire - October 21, 2010) -  Diligent Board Member Services, the world's leading board portal provider, announced that eight banks in Q3 have selected Diligent Boardbooks to provide a bank board portal. Diligent board portals allow banks to distribute board and committee material, enhance the efficiency of the corporate secretary's office and streamline communication to their directors.

Diligent now serves more than 70 banks. "We are seeing strong growth from the banking segment as regional and community banks move quickly to contain and reduce expenses, and at the same time enhance corporate governance," said Marc Daniels, executive vice president of licensing.

In Q3 2010 Diligent added eight new banking clients including; Bank of Whitman, Carver BancorpCommunity & Southern Bancorp, Cortland Bank, First National Community Bank, iBERIABANK Corporation, National Consumer Cooperative Bank and The Palmetto Bank.

Community & Southern Bank of Atlanta, Georgia called on Diligent as their growing bank wanted to streamline the process of getting information to its board. Community & Southern is the fourth-largest Georgia-based bank with total assets of approximately $2.8 billion and 40 branches in 18 counties throughout Georgia. 

Steve Stone, Community & Southern's general counsel, stated, "We selected Diligent as a means of reducing the time and expense involved in the preparation and dissemination of materials to our Board of Directors and Committees. Diligent provides our board with a level of convenience and security that traditional paper board books simply can't compete with. The fact that two of our board members already use Diligent's product on other boards on which they serve made the decision to use Boardbooks even easier." 

About Diligent Board Member Services, Inc (NZSE: DIL)

Diligent Board Member Services is the global leader in board portals, providing company directors, executives and administrators with an easy-to-use system of compiling, distributing, viewing, and archiving materials within a Software-as-a-Service (SaaS) model.

This document contains forward-looking statements within the meaning of the safe harbor provisions of the Securities Litigation Reform Act of 1995. Terms such as "expect," "believe," "continue," and "grow," as well as similar comments, are forward-looking in nature. Although the Company believes its growth plans are based upon reasonable assumptions, it can give no assurances that such expectations can be attained. Factors that could cause actual results to differ materially from the Company's expectations include: general business and economic conditions, competitive factors, raw materials purchasing, and fluctuations in demand. Please refer to the Company's Securities and Exchange Commission filings for further information.

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