MONETT, Mo., Dec 04, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced that New York-based Bank of Smithtown has selected Jack Henry to provide an in-house core processing platform and multiple fully integrated complementary solutions. This $1 billion asset bank will install Jack Henry's SilverLake system in-house.
According to John A. Romano, executive vice president and chief retail officer, "Bank of Smithtown is a progressive provider of financial services with responsibly managed growth plans in its existing markets. We plan to expand into new markets. We have carefully nurtured a customer-centric orientation and a commitment to personal service which we plan to continually enhance. After review of the functionality provided by our long-time in-house system we launched an extensive evaluation of core system alternatives that would support our future business and growth strategy, and enhance operational efficiencies -- all with our commitment to our customers in mind. Based on extensive demonstrations of the core and complementary solutions, we ultimately selected SilverLake as our core processing system and Jack Henry as our technology partner. We believe that SilverLake and the suite of integrated complementary solutions provide the functionality and flexibility we will need near- and long-term, and that Jack Henry has the proven reputation and commitment to meet our expectations."
Tony Wormington, president of Jack Henry & Associates, said, "Bank of Smithtown is an exciting addition to our roster of SilverLake clients that now includes approximately 15 percent of the domestic banks with assets that range from $1 billion to $30 billion. We are confident that the robust functionality provided by SilverLake and our suite of more than 100 complementary solutions will enable this bank to more effectively and efficiently serve its customers, attract new customers and expand into new markets, to optimize its business strategy, and to continually capitalize on the dynamic trends that shape the financial services industry and consumer expectations."
In addition to the SilverLake core system Bank of Smithtown will initially install Jack Henry's Vertex Teller Automation(TM) solution, StreamLine Platform Automation(R) solution, Synergy Intelligent Document Management (IDM) system, PassPort.atm(TM) ATM processing and network switching services, and the Yellow Hammer(TM) Anti-Money Laundering solution.
About Smithtown Bancorp
Bank of Smithtown is a 96 year old community bank headquartered in Hauppauge, New York. The bank has 15 branches located along the north shore of Long Island. Bank of Smithtown is a full-service commercial bank focused upon servicing small business customers and consumers. The bank also offers insurance, trust, and investment services. Earlier this year, Investors Business Daily added Smithtown Bancorp (parent company of Bank of Smithtown) to its list of the "Top 100" stocks in the United States.
About Jack Henry & Associates
Jack Henry & Associates, Inc. is a leading provider of integrated technology solutions and data processing services for financial institutions. Jack Henry markets and supports its systems throughout the United States, and has more than 8,700 customers nationwide. For additional information on Jack Henry, visit the company's Web site 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. There are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information such as economic conditions, changes in interest rates and competition. Additional information on these and other factors, which could affect each Companys' financial results, are included in their respective filings with the Securities and Exchange Commission (SEC) and potential investors should review those findings. Finally, there may be other factors not mentioned above or included in the Companys' SEC filings that may cause actual results to differ materially from any forward-looking information.
SOURCE Jack Henry & Associates, Inc.
Analysts, Kevin D. Williams, Chief Financial Officer, or IR Contact, Jon Seegert, Director of Investor Relations, of Jack Henry & Associates, Inc., +1-417-235-6652
http://www.jackhenry.com
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