– $3 Billion Bank to Install SilverLake® System –
Monett, MO – May 9, 2006 - Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated computer systems and ATM/debit card/ACH transaction processing, today announced that it has been selected to provide Texas-based First National Bank in Edinburg with enterprise-wide automation. Jack Henry will install its SilverLake system and the majority of its fully integrated complementary products and services to support this bank, which has approximately $3 billion in assets and more than 50 branches that serve most major markets in the state.
According to Cynthia Myers, senior information officer, “Our bank determined that in-house processing would be more advantageous for a bank our size and more compatible with our long-term growth goals. We launched a formal evaluation of top bank technology providers, and hired a consulting firm to issue and manage the RFP process. We ultimately selected Jack Henry based on a variety of considerations, including the robust functionality provided by SilverLake, the extremely satisfied SilverLake users that we contacted, the service levels we experienced during the evaluation process, and our first-hand experience with the Jack Henry associates that were involved in the evaluation process. The broad array of complementary products and services that are fully integrated with SilverLake also competitively differentiated the enterprise-wide solution available from Jack Henry. Fundamentally, we believe Jack Henry provides the most comprehensive and integrated product and service offering available today.”
Tony Wormington, president of Jack Henry & Associations, said, “Approximately 400 banks have entrusted their ability to attract, serve, and retain their customers to our SilverLake system. In fact, SilverLake is now supporting the core processing requirements of approximately 15 percent of the domestic banks with assets ranging from $1 billion to $30 billion. We believe there are two primary reasons for the growing market share this system is capturing, and the rewarding levels of client satisfaction and retention among these banks. First, SilverLake is a competitively distinct, extremely powerful banking platform that provides highly customizable, enterprise-wide automation; and second, Jack Henry is driven by a fundamental commitment to provide each client with outstanding service. We are excited about adding this mid-tier bank to our client roster and are confident that our SilverLake-based solution will seamlessly accommodate its dynamic business strategy and long-term growth goals; and will enable it to proactively respond to the dynamic product, service, and technology trends that are guiding the financial services industry.”