Centric Bank Moves to Jack Henry Banking's SilverLake System

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May 16, 2018

Centric Bank Moves to Jack Henry Banking's SilverLake System

Bank chooses powerful core platform to support growth with digital sophistication and efficiency

MONETT, Mo., May 16, 2018 /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 Harrisburg, Penn.-based Centric Bank has selected the SilverLake System® to support its steady growth with more dynamic offerings, advanced digital services, and added efficiency.

Centric Bank has $611 million in assets and is the top-rated small business lender in the Commonwealth of Pennsylvania for banks $1 billion and below in asset size. The bank is committed to helping entrepreneurs realize their dreams by funding small- and medium-sized businesses; it has supported more than 1,600 local businesses in the last 10 years. Centric Bank views small business lending as another opportunity for them to provide clients with needed funding. One of the reasons Centric Bank decided to convert to SilverLake is to provide more services and functionality for their commercial customers, a rapid area of growth for the institution.

Centric Bank is confident in its longstanding relationship with Jack Henry Banking; the bank launched with the company's CIF 20/20® core platform and has grown with it for the last decade. While JHA continues to enhance the CIF 20/20 platform and provide exceptional support to approximately 470 banks, SilverLake offered Centric Bank a more robust system to take their institution's service to the next level. Patricia Husic, president and CEO of Centric Bank, said, "Our goal is to be the community bank of choice for small and medium-sized businesses, professionals, and individuals in Pennsylvania. We promise our customers immediate, direct access to bank decision makers, accompanied by superior services. And, we depend on Jack Henry Banking to help us deliver on these goals. For many years, the CIF 20/20 platform supported us well, and we're excited about the sophisticated services offered through the SilverLake System and the expanded features we'll be able to provide our customers. The platform's power and automation will allow our employees to offer more personal customer attention and focus on strategic initiatives."

Centric Bank also relies on the input of millennials to help guide their strategic and digital direction. In 2016, the bank partnered with a local young professional group to form a millennial advisory board that helps them determine what younger generations are looking for in banking relationships and potential workplaces. The group weighs in on everything from the products and services to marketing. Husic commented, "Our advisory board's guidance contributes to our decision to invest in technology like SilverLake that will help us maintain a high level of service and success while meeting digitally-savvy customers' expectations."

Stacey Zengel, president of Jack Henry Banking, added, "We rarely bring attention to our core migrations as we tend to only announce new core customer additions, but we're excited about what's ahead for our long-time customer Centric Bank. Progressive institutions like Centric Bank are the backbone of our economy; they are constantly evolving to meet customer preferences while consistently providing for their communities. The SilverLake System provides these growing financial institutions with the dynamic functionality necessary to help meet the needs of their target markets. Jack Henry Banking is committed to helping bank partners like Centric Bank successfully scale and compete in all areas of their business."

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 multi-billion-dollar institutions. Jack Henry Banking currently serves approximately 1,100 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 technology solutions and payment processing services primarily for the financial services industry. Its solutions serve approximately 9,000 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion dollar institutions with information processing solutions. Symitar® is a 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. 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.



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SOURCE Jack Henry & Associates, Inc.

Company: Jack Henry & Associates, Inc., 663 Highway 60, P.O. Box 807, Monett, MO 65708; Analyst Contact: Kevin D. Williams, Chief Financial Officer, (417) 235-6652; Press Contact: Jessica Randall, Corporate Communications Manager, (704) 357-0298