Town Square Bank Selects Jack Henry Banking SilverLake System

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Apr 11, 2018

Town Square Bank Selects Jack Henry Banking SilverLake System

$457 million bank plans growth strategy around digital banking, added efficiencies and culture

MONETT, Mo., April 11, 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 Ashland, Ky.-based Town Square Bank selected the SilverLake System® to support the institution's commercial and retail growth with a strong digital presence and an improved customer experience.

In 2014, Home Federal Savings and Loan merged with Town Square Bank to blend their strengths as "The Local Lender." The bank wanted a core technology partner that would prepare them to offer an enhanced digital platform, a modern branch experience, and additional operational efficiencies.

Cathy Groves, COO of Town Square Bank, commented, "Our bank has been a local community staple for more than 125 years. Today, as we embark on providing customers with the latest features and conveniences, it is important that we have a technology partner who will support our growth goals. Jack Henry & Associates offers us the scale and efficiency necessary to create stronger customer relationships in the branch and through digital channels."

Jack Henry & Associates' comprehensive digital platform enables customers to seamlessly transition between mobile, online, and branch experiences. Town Square Bank is introducing online account opening as a way to prepare for growth beyond its nine-branch brick and mortar presence. The bank is also renovating its branch network with banking pods for a more visual and interactive experience and technology tables that allow the bank to demo their full-service mobile capabilities to customers. 

For back office support, Town Square Bank chose SilverLake Xperience™, a customizable interface that's more intuitive for bank employees. They will use jhaEnterprise Workflow™ to streamline and standardize multi-step business processes with enterprise-wide automation, and will outsource call center operations with jhaCall Center™ so bank representatives can focus more on building customer relationships. To safeguard operations and customer data, the bank also elected to outsource its disaster recovery and business continuity through Jack Henry & Associates' data center, the Mountain, securely located 165 feet below ground.

Stacey Zengel, president of Jack Henry Banking, added, "Growth-focused institutions like Town Square Bank are leveraging the SilverLake System as a dynamic starting point for customer experiences that create loyalty and help foster growth. Jack Henry Banking is committed to delivering advanced digital and enterprise-wide technologies that will position banks like this as industry-leading competitors, solidifying their business and helping them break into new markets."  

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.

Analyst Contact: Kevin D. Williams, Chief Financial Officer, (417) 235-6652; Press Contact: Jessica Randall, Corporate Communications Manager, (704) 357-0298