MONETT, Mo., Oct 23, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated computer systems and ATM/debit card/ACH transaction processing, today announced that Florida-based Bank of Florida Corporation has selected the SilverLake System to provide enterprise-wide information and transaction processing. This $1.3 billion, three bank holding company will implement SilverLake through Jack Henry's outsourcing offering.
"Converting all regions of our company to a common core system was clearly in the best interest of our organization, and supports our goal to continually improve operating and cost efficiencies," said Peter Setaro, executive vice president of Technology and Operations for Bank of Florida Corporation. "After much due diligence and research, Jack Henry clearly demonstrated that the SilverLake platform could provide the functionality and technology to support our growth as we continue to expand our franchise and serve our target client base."
SilverLake currently provides approximately 15 percent of the domestic banks with assets ranging from $1 billion to $30 billion with enterprise-wide automation. SilverLake's customizable core functionality, integration with more than 100 best-of-suite complementary solutions, open architecture, ability to support both in-house and outsourced operating environments, and scalable IBM(R) System i(TM) hardware platform maximize banks' operating flexibility and long-term technology investments.
Stan Viner, general manager of sales for Jack Henry Banking, said, "We are confident that our core and complementary solutions provide the business tools this aggressive, growth-focused organization needs to optimize its progress and performance. We believe that our ongoing success in the mid-tier marketplace is a direct result of our commitments to invest heavily in SilverLake's functionality; to provide support levels that consistently exceed our clients' expectations; and to provide fully integrated complementary solutions that enable our bank clients to proactively respond to evolving customer and market demands, expedite speed-to-market with competitive offerings, increase efficiency, and address specific operational issues with proven solutions. Our success converting mid-tier banks from all of our key competitors' flagship systems also has positively influenced most of the evaluations that we have participated in during the past two years."
About Bank of Florida Corporation
Bank of Florida Corporation (Nasdaq: BOFL) was incorporated in 1998 in Naples, Florida. The company has since grown to include three separately chartered banks including Bank of Florida - Southwest, Bank of Florida - Southeast, and Bank of Florida - Tampa Bay as well as a trust and investment company called Bank of Florida Trust Company. The company's primary focus is to serve the borrowing, deposit, cash management, and wealth management needs of businesses, professionals, and successful individuals. The $1.3 billion company currently operates 13 full-service financial centers in the following Florida Counties: Broward, Collier, Hillsborough Lee, Miami-Dade, Palm Beach, and Pinellas.
About Jack Henry Banking
Jack Henry Banking, a division of Jack Henry & Associates, Inc. (Nasdaq: JKHY), is a leading provider of integrated computer systems for banks ranging from de novo to mid-tier institutions. Jack Henry Banking currently serves approximately 1,700 banks as a single source for integrated, enterprise-wide automation; and as a single point of contact and support. Additional information is available at http://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 8,700 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking supports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions. Symitar(TM) is the leading provider of information and transaction processing solutions for credit unions of all sizes. ProfitStars(TM) 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 http://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.
http://www.jackhenry.com
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