This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Libertyville Savings Bank And Farmers State Bank Select Jack Henry Banking To Provide Enterprise-Wide Automation

MONETT, Mo., Dec. 18, 2012 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Jack Henry Banking ® division announced today that Iowa-based Libertyville Savings Bank and Minnesota-based Farmers State Bank have selected its Core Director ® core processing platform to provide enterprise-wide automation. Both banks will implement Core Director through Jack Henry Banking's outsourced offering.       

Core Director is a Windows ®-based solution that provides customizable core functionality that is fully integrated with approximately 110 complementary products and services. Core Director provides point-and-click operation; an extremely flexible browser user interface that can be customized to support unique user preferences and specific functional requirements; open architecture and connectivity to third-party products; in-house and outsourced implementation; and a highly scalable, cost-effective hardware platform.

Libertyville Savings Bank is based in Fairfield, Iowa and has approximately $195 million in assets. According to Ryan Troutman, the bank's CFO, "We have processed in-house for approximately 25 years on the same core system. Today, Libertyville Savings Bank is a very well capitalized community bank with a progressive management team that is capable and ready to take us to the next level. As our bank, our markets, our customers, and the banking industry at large evolved and progressed, we knew that implementing and optimizing our long-term business plan would require a state-of-the-art technology and delivery platform. We invested several months in a thorough and thoughtful evaluation of technology alternatives and after comprehensive product demos, visits, and calls with existing system users, we were convinced that Core Director and its integrated complementary solutions will provide the business and banking tools we need to execute our strategy and meet our growth and efficiency goals. We also appreciate how Jack Henry Banking does business and the strong service culture we share."

Farmers State Bank is based in Underwood, Minn. and has approximately $46 million in assets. According to Kellen Shebeck, the bank's senior vice president, "We are a family-owned bank with a strong history and reputation in the communities we serve. The decision to replace our long-time in-house system was motivated by our need for a new technology platform that would enable us to keep pace with the changing banking and business environment, puts leading-edge functionality at our fingertips, and provides continual enhancements and updates so we can be assured that our system will not become obsolete. We currently use several of the solutions provided by Jack Henry & Associates' ProfitStars division so we have first-hand experience with the company's service, culture and outstanding support staff. We have a very high level of trust in the company, its people, and its products and services."

According to Stan Viner, general manager of sales for Jack Henry Banking, "It is always rewarding to add new banks to our client roster after they have performed comprehensive and smart evaluations of our company, our solutions, and the competitive alternatives. We believe that moving to Core Director and outsourcing after decades of in-house processing will be important milestones for these forward-thinking banks. These banks clearly understand the near- and long-term value that contemporary, dynamic technology will deliver as well as the operational and efficiency improvements and cost savings they will realize in our outsourced environment."

About Libertyville Savings Bank

Libertyville Savings Bank is a family-owned bank that was established in 1901. With four locations in three counties in the Southeast corner of Iowa, the bank is known for having fun as it supports several communities with a staff of extraordinary tenure in a family-like atmosphere. Additional information is available at www.libertyvillesavingsbank.com.

About Farmers State Bank

Farmers State Bank is locally-owned, independent community bank. It has two locations to better serve its customers. Its main office is located in Underwood, Minn. and its branch is located in Dalton, Minn. Its officers, directors, and staff all live and work in its local communities. At Farmers State Bank, customers are treated with friendly, personal service, from people who value their business. Additional information is available at www.farmersstbank.com .

About Jack Henry Banking

Jack Henry Banking, a division of Jack Henry & Associates, Inc., is a leading provider of integrated computer systems for banks ranging from community banks to mid-tier institutions. Jack Henry Banking currently serves more than 1,300 banks as a single source for integrated, enterprise-wide automation and as a single point of contact and support. Additional information is available at www.jackhenrybanking.com.

About Jack Henry & Associates, Inc.

Jack Henry & Associates, Inc. ® (NASDAQ: JKHY) is a leading provider of computer systems and electronic payment solutions primarily for financial services organizations. Its technology solutions serve more than 11,900 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking ® supports banks ranging from community to mid-tier institutions with information processing solutions.  Symitar ® is the leading provider of information processing solutions for credit unions of all sizes.  ProfitStars ® provides best-of-breed solutions that enhance the performance of domestic and international financial institutions of all asset sizes and charters using any core processing system, as well as diverse corporate entities. Additional information is available at www.jackhenry.com.

Statements made in this news release that are not historical facts are forward-looking information.  Actual results may differ materially from those projected in any forward-looking information.  Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information.  Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements.  Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.

SOURCE Jack Henry & Associates, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,104.68 -68.00 -0.40%
S&P 500 1,990.08 -4.21 -0.21%
NASDAQ 4,529.14 +1.4510 0.03%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs