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South Atlantic Bank Selects Jack Henry Banking

Jack Henry Banking, a division of Jack Henry & Associates, Inc. (Nasdaq: JKHY), that provides integrated computer systems for banks ranging from de novo to mid-tier institutions, today announced that South Atlantic Bank, the Myrtle Beach, S.C.-based de novo bank which currently has more than $50 million in assets, selected Jack Henry Banking as its technology partner and the SilverLake System as its technology platform.

According to Dick Burch, executive vice president and CFO of South Atlantic Bank, “We opened on November 28, 2007 based on the philosophy that ‘in banking, it’s the people that make the difference.’ So we hired the best people in the market including a management group that has more than 100 years of collective banking experience. We also believe technology plays a mission-critical role in a bank’s ability to execute and optimize its business strategy. So we selected Jack Henry Banking because we want to establish a partnership with a technology company that provides highly sophisticated financial products and services, and can support our long-term growth. I have been in the banking industry for more than 25 years and I have worked with numerous banking systems, but none of them come close to providing the fully integrated front- to back-office functionality that SilverLake offers. Jack Henry Banking’s De Novo University also proved to be a highly beneficial and unique component of the company’s offering.”

Jack Henry Banking’s De Novo University provides a formal curriculum and specific course objectives developed exclusively for de novo banks. The fundamental concept is to provide a cost-effective and comprehensive training program that enables start-up banks to systematically set up their products, completely train their staffs, and efficiently serve their customers the day the bank opens. Jack Henry Banking’s De Novo University encompasses initial Internet-based classes; comprehensive classroom-based courses; hands-on, product-specific labs; in-bank refresher training typically conducted five days prior to the bank’s opening; and continuing education. This focused and dedicated environment streamlines bank openings, optimizes bankers’ time, and reduces training-related travel and expense.

Stan Viner, general manager of sales for Jack Henry Banking, said, “A significant number of progressive, growth-focused de novo institutions like South Atlantic Bank are continuing to select Jack Henry Banking as their technology partner. We attribute our growing roster of de novo clients to our ability to develop an information and transaction processing solution specifically for each bank’s unique operational requirements, to provide integrated access to the complementary products and services they need to compete day-one, and to provide value-added offerings like our De Novo University and exacting service standards.”

In addition to the highly customizable, commercial-focused SilverLake System South Atlantic Bank initially implemented many of Jack Henry Banking’s integrated complementary solutions including StreamLine Platform Automation® – Deposits, StreamLine Platform Automation – Loans, Vertex Teller Automation System™, NetTeller Online Banking™, NetTeller PowerPay electronic bill payment solution, NetTeller Cash Management™ online commercial account management solution, Electronic Statements – Interactive, InTouch Voice Response® telephone banking solution,™ online authorization and ATM driving solution, Cognos 8 BI™ report generation solution, Remote Deposit Capture, ACH/Check Conversion Services, Check Collect Recovery Services for automated consumer check recovery, 4|sight™ item imaging platform, Check 21 solutions, components of the modular Synergy™ enterprise content management solution, Yellow Hammer™ BSA compliance and risk mitigation solution, Yellow Hammer Fraud Detective™ solution, and components of the Regulatory Reporting Solutions suite.