|
Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, announced that it has added 73 de novo banks to its client roster during the past 18 months. Included among these new clients are some of the most highly capitalized de novo banks in Florida, Georgia, New York, North Carolina and South Carolina.
Tony Wormington , president of Jack Henry & Associates, said, “As consumer-demand for service-focused community banks continues to grow, de novo banks are being chartered nationwide at an increasing rate. And Jack Henry is being selected as the technology partner by a significant number of these growth-focused banks. We attribute our ongoing success in the de novo market to our ability to develop an information and transaction processing solution specifically for each bank. Based on each new bank’s technology requirements and operating plan, we combine a robust core processing platform, an in-house or outsourced processing environment, and the specific complementary products and services that support its business strategy.”
Among the 73 de novo banks recently selecting Jack Henry as their technology partner are North Carolina-based Park Sterling Bank and Georgia-based Bank of Atlanta.
Bank of Atlanta
According to John Dalton, senior vice president for operations and strategic planning for Bank of Atlanta, “We identified a strategic opportunity to fill the void in the Atlanta marketplace that was created by mergers and acquisitions, so we developed a business plan to enter the market and support middle-market businesses with the personal service levels that community banks are known to provide. But we planned to differentiate our bank by providing the sophisticated financial products and services that exceed the capabilities of most community banks. We evaluated the top-tier providers of banking technology and visited existing clients of each company. Jack Henry clearly demonstrated that it provides the fully integrated, front-to-back office solution we need; and its existing clients confirmed its products and services stand the test of time. We ultimately elected to outsource our information processing to Jack Henry and selected its SilverLake System® as our operational core. In addition to this highly customizable, commercial-focused core functionality, we implemented many of Jack Henry’s complementary solutions, including check and document imaging; Check 21 solutions; ATM and debit card solutions; deposits, loans, and teller platforms; Internet banking; electronic bill pay; Internet-based cash management; remote deposit capture; enterprise-wide profitability management; and fraud detection and prevention. Based on the implementation process, the distinct service levels we consistently experience, and our day-to-day use of Jack Henry’s core and complementary solutions, we would absolutely make the exact same technology decision today.”
Park Sterling Bank
Charlotte-based Park Sterling Bank raised $45 million in capital, positioning it as the highest capitalized de novo bank chartered in North Carolina. Bryan Kennedy, president and CEO, said, “While working for another bank that used Jack Henry’s SilverLake System, I gained first-hand experience with the core functionality, with many of the fully integrated complementary solutions, and with Jack Henry’s commitment to customer care. This real-world experience, coupled with an evaluation of several competitive alternatives that was managed by an independent consultant, confirmed that the SilverLake System delivered in an outsourced environment provides the flexible and customizable functionality that our relationship-focused bank needs to attract, serve, and retain retail and commercial customers in our highly competitive business environment. We are confident that our offering, backed by Jack Henry’s technology, positions Park Sterling Bank with virtually any financial product or service that our customers want and that our competitors provide.”
Jack Prim , CEO of Jack Henry & Associates, reported, “We are seeing a number of start-up banks with the business plans and the capitalization that can quickly propel them into the mid-tier arena, and we are confident that our extensive product and service offering can meet their dynamic technology requirements. We are strategically positioned for ongoing growth in the banking industry with core processing solutions that are functionally compatible and cost-effective for institutions ranging from de novo to mid-tier banks; and with highly specialized ProfitStars™ solutions that enable financial services organizations of all asset sizes and charters to respond to specific business opportunities and challenges.”
According to Kevin Williams, CFO of Jack Henry & Associates, “The ability to provide turnkey technology solutions that enable de novo banks to aggressively and successfully compete day-one has positioned Jack Henry with a strong and growing presence is this market. While these start-up banks typically do not generate a material or immediate impact on our earnings, the long-term growth and cross-sales opportunities they generate represent an important component of our sales and growth strategies.”
About ProfitStars
ProfitStars, a division of Jack Henry & Associates (Nasdaq: JKHY), provides best-of-breed solutions that improve the performance of financial institutions of all asset sizes and charters, and diverse corporate entities. These solutions facilitate revenue and growth, risk mitigation and control, and cost control; and complement virtually any core information processing platform. Additional information is available at www.manageforperformance.com or by calling 877-827-7101.
About Jack Henry & Associates
Jack Henry & Associates, Inc. is a leading provider of integrated technology solutions and data processing services for financial institutions. Jack Henry markets and supports its systems throughout the United States, and has more than 8,700 customers nationwide. For additional information on Jack Henry, visit the company’s Web site at www.jackhenry.com. |