This Day On The Street
Continue to site
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

Great Western Bank Exceeds Aggressive ROE Objectives With ProfitStars' BusinessManager

MONETT, Mo., Aug. 22, 2013 /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 ProfitStars ® division today announced that $9.1 billion Great Western Bank expanded the BusinessManager ® program from a single market to four regions. In one year, the South Dakota-based bank serving seven states has more than doubled its number of BusinessManager customers, nearly tripled its outstandings to $35 million, and generated twice the program's revenue compared to the year prior.

Great Western Bank initially deployed ProfitStars' accounts receivables financing solution to Omaha-area businesses more than 10 years ago. The bank runs a tight return on equity (ROE) model, and 15 percent of its loans must achieve a high ROE rating. In re-evaluating growth measures, it saw BusinessManager's ability to attract a wealth of commercial customers and maintain high ROE thresholds. Great Western initiated an aggressive campaign in May 2012 to broaden the program into some of its additional geographic markets. BusinessManager has now become an integral part of the scorecard to reach the bank's ROE goal.

Kevin Petoske, business product manager of Great Western Bank, said, "BusinessManager has proven effective for both new businesses needing early, consistent cash infusion and veteran companies looking to expand. It has become an invaluable customer acquisition tool to the entire bank, and critical to the strength of our lending portfolio. Our once single-market, equipment financing program is now a multi-region revenue driver accommodating the cash flow needs of diverse businesses."

BusinessManager provides financial institutions with a proven method for offering initial and ongoing cash to creditworthy businesses secured by their accounts receivables. Financial institutions have significant opportunity to tap into the needs of targeted markets such as healthcare, oil and gas, and trucking.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 1,995.83 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs