Think Mutual Bank Selects Jack Henry Banking™ to Provide Enterprise-Wide Automation

MONETT, Mo., June 14, 2011 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY), a leading provider of computer systems and electronic payment solutions primarily for financial services organizations, today announced that Think Mutual Bank has selected Jack Henry Banking's SilverLake core processing system to provide enterprise-wide automation.  This Minnesota-based bank, which has more than $1.4 billion in assets, has installed SilverLake in-house.      

According to Tom Floyd, senior vice president and chief operating officer for Think Mutual Bank, "As our business strategy has evolved, we knew we needed to replace our proprietary system with a feature-rich technology platform that would enable us to deliver competitive financial products and services to the marketplace more quickly, support our growing commercial banking segment, and better position our bank to respond to regulatory changes.  We hired a proven consulting firm and launched a seven-month evaluation that included an extensive RFP process, multiple days of product presentations, corporate visits, and multiple customer visits and reference calls.  At the end of our evaluation it was clear that SilverLake is the right solution for our bank based on its deep and customizable functionality, the array of fully integrated complementary solutions, and importantly, the service-driven culture that we share with Jack Henry Banking.  The level of satisfaction among its existing customers and their willingness to endorse the company's technology and how it does business are only possible when a company actually delivers on its product and service claims."

SilverLake provides highly customizable, enterprise-wide automation designed for banks ranging from de novo to multi-billion dollar, mid-tier institutions.  Approximately 500 banks, including approximately 20 percent of the domestic mid-tier banks with assets ranging from $1 billion to $20 billion, have installed SilverLake in-house or implemented the system through Jack Henry Banking's outsourced offering.  Banks have the option to fully customize the system to support their unique operational requirements or the system can be implemented as an off-the-shelf outsourced solution using an expedited and streamlined implementation process.   

Stan Viner, general manager of sales for Jack Henry Banking, said, "We provide the technology diverse banks need to capitalize on dynamic business opportunities, automated business processes, and attract and serve customers.  We are confident that SilverLake provides the functionality that Think Mutual Bank needs to further differentiate its customer service, effectively compete with traditional and nontraditional competitors, and grow its business. We respect the time and effort this bank invested in the evaluation process and believe we were selected based on the key tenets of our success – competitively distinct core functionality, a company-wide commitment to provide outstanding service day-in and day-out, and integrated complementary solutions that enable banks to quickly respond to evolving customer and market demands."

In addition to SilverLake, Think Mutual Bank has implemented a full array of Jack Henry Banking's complementary solutions including those for deposit and loan account opening, online banking and e-statements, business intelligence, document management, fraud and risk mitigation, and teller platform solutions.

About Think Mutual Bank

Since 1961, Think Mutual Bank has cultivated a culture that is centered around respect and outstanding service. From the moment a customer walks in the door the bank focuses on putting them at ease, learning about their situation, and finding a simple and effective solution to their needs.  Think is a full-service banking institution that offers a wide variety of consumer loan options, a full range of deposit products, home financing, and business banking.  Additional information is available at www.thinkbank.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 de novo to mid-tier institutions.  Jack Henry Banking currently serves approximately 1,500 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 ATM/debit card/ACH transaction processing services primarily for financial services organizations. Its technology solutions serve more than 11,200 customers nationwide, and are marketed and supported through four primary brands. Jack Henry Banking supports banks ranging from de novo 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 highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. iPay Technologies operates as a leading electronic bill pay provider supporting banks and credit unions with turnkey, highly configurable retail and small business electronic payment platforms.  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.